[SA] MS equity research vs. JPM FICC sales
I got two summer analyst offers, both leading to potential full-time offer.
- MS Equity Research
- JPM FICC Sales.
I have been an equities guy, mostly because I started investing in stocks 4 years ago when I first entered college.
I am delighted when I have discussions about the eq market but dont know that much about FICC. And part of that is because as a student, it's been difficult to get real market exposure/experience for the latter.
Up until last night I was leaning against MS EQ research but people from the industry i met up with all told me to go to JPM FICC because equities have no future with shitty commission they get, whereas FICC guys all make a shitload of money (esp. JPM with their HUGE book.)
They also said FICC has a higher entrance barrier which will keep my ass safe in the long run (but hardly left with exit opportunities).
When I dont have an excetional math brain, is JPM still a legit call for me?
Can I hear pros and cons for each option?
Rather than FICC vs Equities, it is more about Research vs Sales. They are so different that they require a different skillset and character. I am sure you will enjoy ER as you are investing but sales ... you really must understand what you are stepping into and if you don't have any specific interest in FI, you will be having a hard time. However, it is a summer so you may want to try something you are unsure about. MS ER is one of the best, I would not worry about prospects even though the industry is under pressure.
Thanks for the insight mate.
I have worked in UBS eq sales as an intern before so I know I like sales activity in general. Dealing with client requests and all.
I guess I'm unsure of whether there will EVER be another strong bull market for equities, so that my ER experiece would payout (whether it be in promotions and raises, new positions in buyside, etc.) at some point in the future.
Whereas for fi sales, the entry barrier, high commission %, OTC market allows you to reap a lot more $ with the same degree of effort as equities.
So i guess my question boils down to "ideals vs the money" with current market prospects in the picture.
Thanks again!
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