Working in AM vs IB out of undergrad?
Hey y'all, this is my first post so I hope you go easy on me :)
I am a junior at a target school. In the fall, I accepted a summer internship at a Top AM (BlackRock/PIMCO/Capital Group) in the portfolio management group and had an offer at an EB that I turned down because people told me it's better to go to the buyside directly despite the lower pay for 3-4 years and then get an MBA. That was my plan, but I'm starting to doubt myself now. I would love to eventually be a PM or work for a HF.
I made a list of pros and cons for picking AM here.
Pros: - Direct buyside - Exposure to really smart PMs - Specialized skillset - Lifestyle - Good shot at MBA programs Cons: - Pay - Lacking in traditional modeling skills - Less career flexibility - Work as a junior employee is not as substantial as they primarily hire MBAs. I am NOT going to be directly researching investment ideas.
Basically, my concern is that I'll be at a disadvantage to bankers looking to move to a HF because I'm missing out on modeling skills, a large network, and there must be a good reason all my friends took IB internships. Not to mention the pay difference, and I wouldn't mind long hours at this age. I know I can always re-recruit for full time, so what do you guys think? Stay with AM, or try to go for IB? Would really appreciate any advice.
Think you forgot the rest of the post...
Nevertheless congrats on the AM job!
whoops, fixed!
"Hey y'all, this is my first post so I hope you go easy on me :)" --> Forgets half the post
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