Unsure about career

Currently ~1 year into SS ER (MM Industrials) in a tier 3 city.

I’m getting decent exposure to modeling and stock input, but was recently offered a product strategy role at a sizeable ETF manager. It’s a good pay bump and would move me to a tier 1 city.

Ultimate goal: move to the buyside at a LO or AM.

Would staying in SS ER another 1–2 years position me better for a buyside seat (or possibly lateral to a bigger platform first)?

Or could taking the product strategy role (buy-side adjacent) still make the switch feasible later?

Any insight would be appreciated.

3 Comments
 

Based on the most helpful WSO content, here’s what you need to consider:

  1. Staying in Sell-Side ER:

    • Staying in sell-side equity research (SS ER) for another 1–2 years could help you build a stronger foundation for a buy-side role, especially if you’re getting solid exposure to modeling and stock input.
    • However, as highlighted in WSO threads, the skill set in SS ER tends to plateau after 2 years. Your exit opportunities after year 2 are often the same as after year 5, so extending your time in SS ER may not significantly enhance your profile unless you lateral to a bigger platform or a hot sector.
    • If your goal is to move to the buy-side, it’s generally recommended to make the jump after 1–2 years in SS ER, as buy-side firms often prefer more junior talent.
  2. Taking the Product Strategy Role:

    • The product strategy role at a sizeable ETF manager offers a pay bump and relocation to a tier 1 city, which are attractive benefits. While it’s not a direct buy-side role, it’s buy-side adjacent and could still keep the door open for a future move to a long-only (LO) or asset management (AM) firm.
    • However, transitioning from a product strategy role to a pure investment role on the buy-side might be more challenging compared to moving directly from SS ER. You’d need to demonstrate strong investment acumen and networking to make the switch.
  3. Key Considerations:

    • If your ultimate goal is a buy-side investment role, staying in SS ER for another year or two could position you better, especially if you can lateral to a bigger platform or a more prestigious sector.
    • On the other hand, the product strategy role could be a good move if you value the pay bump, tier 1 city relocation, and are open to a slightly less direct path to the buy-side. It might also provide a broader perspective on the asset management industry, which could be valuable in the long term.

Recommendation:

If you’re confident in your ability to network and leverage the product strategy role to eventually transition to the buy-side, it could be a worthwhile move. However, if you want to maximize your chances of landing a buy-side seat in the near term, staying in SS ER for another 1–2 years and potentially lateraling to a bigger platform might be the safer bet.

Sources: Feel Trapped, Exit Opps From Sell-Side ER?, A warning to those aiming for Sell Side Equity Research, A warning to those aiming for Sell Side Equity Research, Would you leave in this situation?, Feel Trapped, Exit Opps From Sell-Side ER?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

Hey mate, congrats on the offer. Clear answer: stay on the SS in you want to go into a LO. Having SS then some random product strategy stint makes no sense in the eyes of a long only. 

Long Answer: Make sure going to a LO is what you want to do. If you are ok doing the same work you're doing now but having added stress of making calls while juggling what you PM wants then LO makes sense. But if you wanna have chills WLB at a tier 1 city then take the time to reflect on your life and what the offer can do for you. My relationship with the buyside (specifically LO) is confusing. A part of me wants to make the jump mostly because it's the only thing I've thought about doing since college. On the other hand recruiting for a LO while doing SSER is incredibly difficult. A growing part of me wants a corp role where the structure is set, hours are predictable, and the weeknights+weekends are mine.  

 

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