Hi there, I'm a finance undergraduate caught in a dilemma between taking modules in equities OR fixed income. I understand the differences between both of them, however I would like some insight into the not so obvious differences behind equities and fixed income.
For example, equities are always regarded as "sexier", however I've heard that the market for FI is bigger, hence that would mean more jobs available. Also, i'm not sure which one would be a better fit for me. I am good mathematically, but I wouldn't say that I'm fantastic at math or I love math alot. I would prefer to strike a balance between quantitative and qualitative aspects.
Also, would a person studying equities be unsuitable for a role in FI and vice versa? That being said, which of the would you suggest me to pursue? I am also asking this because I would most probably like to get an internship in the near future related to one of equity or FI, but I am still undecided on my ideal career path and I would like to learn something that offers me more flexibility between the different areas of finance.
Thank you.
Are you looking to be an analyst? Or what specifically ?
I think fixed income is excellent because everyone thinks equity first and debt/FI analysts are definitely in shorter demand.. If you want to differentiate yourself from all the other finance people when apply to business school say you want to do fixed income and become a distressed loan investor :) less competition and probably a good deal of opportunities as you say
Also depends what kind of person you are -- are you more accounting / quantitatively focused or do you like more qualitative and macro top down / thematic ideas?
Hey thanks for the input. I'm definitely leaning towards the qualitative side, however it's more a 60:40 ratio. What would you suggest in that case?
I'm also interested in what @shorttheworld would suggest. Let's wait.
Anyway, I'm an investment analyst covering mostly equities, but also help fixed income fund now and then. Our fixed income fund mostly trade high yield corporate bonds, so I pretty much learn about credit analysis from there. On the other hand, that means I have not been really learning on the more quantitative side like duration, convexity, riding the yield curve strategy, etc., that are more common concepts when trading govt bonds, I think.
Taking CFA exams so far has given me a good picture about that though. So yeah, until the time comes for me to get a hand-on real life experience on govt bonds, I think I'm going to focus on obtaining the CFA charter.
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