Should I do S&T or AM if my goal is to be a PM?

Currently a sophomore in undergrad looking for some advice...

I am debating whether to pursue a S&T internship at a BB or an AM internship at an institutional shop if my main goal is to be a portfolio manager down the road.

On the S&T side, I would learn more about the markets, but the career path is not as direct and from what I've heard, there is not much opportunities that existed in prior years. Also, the skills required to be a successful S&T analyst could change slightly. Lastly, I also heard that you don't really have much of a say in which desk you will end up in.

Lastly, I wanted to know what possible opportunities there were if I wanted to pursue market making/prop trading. I know those people are smart, but not sure if they would like to play politics in a large institutional shop like I would hope to end up in

If I were to choose the AM route, my salary would be most likely 30% less. In addition, I feel like the tasks in an AM shop is fairly operational. That being said, I do feel like the path is much more direct but can be mundane at times.

Which would you give advice to, and what are the pros and cons to each career path? I know S&T and several AM shops have a 2 year analyst program. I was wondering work is like straight out of undergrad, the benefits of each, what you learn or lack with the different routes, and what skills are needed most to succeed in your role.

Thanks!

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