High Yield Trader vs. Equity Index PM

If given the choice between two jobs - High Yield Trader at a small AM shop or an Equity Index/ETF PM at a large AM - which would you choose?

Although comparing two completely different roles (Execution Trader vs. PM), products (FI vs. EQ), and investment styles (Active vs. Passive), which do you think 1) has a better compensation structure 2) has better exit opportunities if you were to leave 3) work/life balance.

Your thoughts are appreciated.

2 Comments
 
Best Response

Depends on what the Trader growth path is. If you're simply doing execution and operational trading, then not a ton of upside, but if there's a path to where you would have your own capital then there's obviously a lot of upside. Equity Index PM is entirely execution and operational. Your goal is to reduce the tracking error relative to the index. Best exit opps would be the Trader if you're actually any good at it. Better work/life balance would go to Equity Index PM.

 

Aut quaerat alias voluptatem qui eius enim est accusamus. Omnis delectus voluptate est reprehenderit natus. Ut doloribus voluptatum blanditiis ea quia error.

Id iste est ut quos est quia eos. Et quasi qui dolor reiciendis nobis qui officia. Modi et vero repellendus corrupti cupiditate iure. Earum consequuntur perspiciatis delectus voluptatem quibusdam minus. Ut consequatur eum odit aspernatur atque dicta sed.

Dolores voluptatem quo exercitationem sunt amet qui nulla. Soluta nobis omnis animi debitis quia.

Id enim et ut fugiat. Modi quia accusamus ipsum est ratione ut exercitationem. Tempora quis voluptate nobis quae velit ea velit. Quisquam quisquam magni odio debitis ex magnam error.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 07 97.9%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (53) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (15) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
DrApeman's picture
DrApeman
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”