Would you pick a non-EB boutique (good deals, no brand name) or a reputable ER shop if your LT goal is to go to L/S at a pod shop.
Exits from the boutique primarily include EB’s, ER, and venture.
Which would provide a better option if you are certain regarding entering L/S.
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I'd give slight edge to ER. Both paths are possible but if the ER gig is name brand I'd just do that. Pod PMs like sell side ER because it's closest functionally to the buy side associate role (covering names, analyzing newsflow, talking to IR/management).
I run a book at a L/S shop and last time I hired someone the first place I looked was the associates for the sell siders I thought did good work. Banking also works sometimes but I find IB juniors are way less in the newsflow of the companies in the space because they aren't tied to the market the same way.
Agreed. Only potential downside is if you're assigned to cover a crappy subsector in ER, you might get pigeonholed into covering that space and pivoting away from it might be difficult.
But if you're assigned a decent coverage, the transition to a L/S pod will be very easy.
What ER sectors are considered crappy?
for pods specifically, a lot of traditional finance sectors are tough. commodities/energies equity universe havs dwindled a lot vs their heydays + havent been the best fit at the equity pod model
Thanks +1SB. Could you explain why those sectors tend to not do well in a pod model?
You want to cover a (sub)sector with plenty of large, liquid companies/stocks that will be around for a long time.
I don't know about financials, but energy is shrinking and some question how much longer we will be using oil. Tech, healthcare and such are great. Of course if you have a personal interest in the sector, that's an added plus.
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