I'll keep this short and sweet:
You want to be an investor as a long-term career, and say you were given these two hypothetical job offers out of college:
1) Nomura High Yield and Distressed desk analyst - somewhat principal strategies like role where you perform fundamental analysis on different credits to identify investment opps. The desk has sizable balance sheet to deploy (think 1.5b+)
2) JP Morgan Investment Grade Finance - Project Finance analyst. You are essentially in IBD, though you will be under the DCM umbrella. You will be placed on deals that involve infrastructure, energy & power financings... think power plants, stadiums, pipes.. etc.