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:
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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%?
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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?
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Both businesses are pressured, there is no question, so do you just take the money and run as long as you can?
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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.
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