College senior here, received an offer for an ER Associate at a MM (non-NYC) bank. I entered into this semester intending on recruiting for FLDPs (and hold a few offers for some) but had this opportunity come up unexpectedly. While I recognize that this position is more sought-after than a typical F500 FLDP, I understand most of that may be due to its ability to place on the buyside. I do believe I would enjoy the work in research, but to be honest I don't have a burning desire to land at a hedge fund or similar later in my career. Additionally, MIFID, passive investing, and other factors make me a bit nervous on the long-term viability of the job I've been offered. As such, I imagine I'd be looking at an exit within a few years of starting next summer.
My question then is this - will the experience I get in research still trump that of corporate finance even if I might anticipate myself making a move back to corporate in 5 years time?
Kinda matters what sector you’d be working in. Is it a sector you like, find interesting, and would want to stay in? Or something that you get placed in randomly and would be looking to leave after a year? Also matters how the analyst is regarded - are they known as a star in their sector or lesser so? Reason being that if you want to move to the Finance side of a public company, particularly one that you may cover if you start in ER, coming from an analyst who’s reputation is solid would likely allow you to come in beyond where you may be able to enter from undergrad.
Also, going from ER to corporate finance is much much easier than the other direction. ER also would let you understand your covering companies’ reporting frameworks and management styles, both of which would be helpful when weeding out companies for a move to the corporate side.
Unfortunately I can't answer what sector at this point - I was told they are hiring a group of 5 or so associates and will be placing them with analysts closer to next spring. I do have some autonomy as to what sectors I'd prefer but no guarantees.
I think something you should consider is work/life balance. If you’re not interested much in public equity and don’t have interest in the more competitive exits, why torture yourself with earnings seasons?
As someone a bit older... Look OP, you got a job in a pandemic. And a pretty good one it sounds like. And something pretty stable. And something where you will learn about finance, some industry(ies), companies etc and hopefully work with nice people who will hopefully show you some ropes and mentor you. Why not see how it goes and then worry about it from there?
No one expects you to stay in your first job post college and much of the learning you will do will not be specific to this job, but much more about yourself. What kind of work you like, what kind of work atmosphere, what industries etc.
Congrats!
Good Luck
Agree with above. Doing a few years and leaving or going to a top MBA is a great path. Take the job and figure it out later.
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