3 ER Offers: UBS vs. Credit Suisse vs. Bernstein
Hi all, I have received three equity research junior summer internship offers for 2023 from UBS, Credit Suisse, and Bernstein. I'm really struggling to choose among the three and was wondering if any of you had insight into this. I am also considering a Strategy& consulting offer-- any insight into ER vs. consulting? Thanks!
Good job, without know any specific details (e.g., sector, analyst), my first choice would be Bernstein by a far margin. It’s a very well respected shop and places well in the buy side. That said, ER is meaningfully different from MC, so it’s difficult to give a perspective there. In my mind, landing Bernstein is harder than Strategy&, along with fewer spots available.
Thanks so much for the insight! What implications do you think AB would have for me right out of undergrad-- e.g. name brand vs. Wall Street, specializing in researching an industry without having had the chance to explore around yet, not being sure if I want to go into buy-side one day, etc.?
Are the offers all with the same industry?
Bernstein has a unique model of priming associates for the buy side, which removes the friction between associates and analysts once they’re trained up.
The analysts are also top tier, and overall - more focused on strategy and industry knowledge vs. the average shop. Fwiw, it has a fair share of ex McK people, so maybe most aligned with your goals so far.
It’s more of an ‘if you know, you know’ kind of brand within Wall Street vs. very recognizable names.
Yes, all the offers are in equity research if that's what you mean, though I have not been staffed on researching any particular industry yet. I'm a little worried that this "specialization" will limit my options, especially if I ultimately decide buy-side isn't for me. Thanks for the super clear and helpful advice! :)
Bernstein > UBS > Credit Suisse.
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