Buyside -- Sellside -- Industry
Hi everyone,
I know this topic has been discussed; however, it has been some time based on the threads I've seen, and given the highly dynamic nature of the business, I wanted to pose the question again: does it make sense to ever go back to sell-side from buy-side? Would the rational action be to exit the industry ASAP?
I know all situations are different, so I'd like to share mine and gather thoughts:
I graduated with a garbage GPA from a non-target in the Midwest, was able to gain three years of experience at a boutique independent sell-side shop on a consumer team and have been at a US long-only (~$15b AUM) for the past two years. We've had some turnover at my current firm, and (shocker) we haven't back-filled with anyone due to cost cutting and now equities and fixed income research are under one umbrella. I am a CFA level III candidate.
Currently I have opportunities in an IR/FP&A role at a large firm (Fortune 50) in the middle of nowhere, a lower-tier BB ER Sr. Assoc. role where the IB side banks heavily, and my current gig where I have a BBG terminal, CIQ, access to a plethora of research and NDRs, and work an 8-5 with no weekends. The catch is that the buy-side role pays the least. I truly don't want to be in NYC, and am currently not in NYC.
While everyone values work/life, pay, experiences, etc. differently, I'd love to hear some thoughts if the crowd is willing to give them.
A few specific Q's:
Does it make sense to go back to the sell-side from buy-side if you are able to increase your total comp by 30-50%?
Is the experience of a buy-side role so rich that it makes sense to sacrifice pay now for upside later? Is there upside later at all?
Both businesses are pressured, there is no question, so do you just take the money and run as long as you can?
Do you get into industry ASAP (corp dev or IR) given the pressures alluded to in question 3?
Appreciate all views.
Hi LongsOnlyPlsThx, check out these resources:
I hope those threads give you a bit more insight.
Sorry to get off topic here, but do you have any advice for how to find a boutique long only shop such as the one you’re at? I am currently in SS ER with under a year of experience, but have decided I don’t think it’s for me long term. I would sacrifice pay personally to work on the buy side where you are actually learning how to invest and not to mention a shop like yours where the hours aren’t as bad it sounds like.
Qui aperiam necessitatibus et et tenetur amet. Sit sed quia possimus in deserunt possimus.
Unde aut recusandae rerum occaecati blanditiis. Fugiat dolores porro doloribus quisquam sequi facere esse. Error debitis vitae quaerat deleniti eos nisi nihil ullam.
Autem aperiam est voluptas quod dolor esse. Sed quia dicta aperiam quam iusto voluptatem delectus odio.
Neque soluta aut reprehenderit consequatur sit. Cum doloremque et molestiae omnis quod. Ipsum ut numquam eos omnis vel minus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...