MS/JPM Equity Research Buyside Prospects?
Going to be interning at one of these firms next summer in ER. Have done a prior SA at a large MM (P72/Citadel/MLP etc) and was curious how my profile would look for L/S HF exits if I decide I want to move into it. I think I want to stick to the sellside but if I ever move it'd probably be to L/S as I'm not that interested in LO.
Due to my last SA I can model 3FS/DCF with revenue and cost builds and have some idea of how the pod process works and what idea generation can look like for pitches. I'll probably do the Fundamental Edge Academy program to go back over what I did during my SA and extend my knowledge for my next SA with a formal training program. Curious if this background would make me more competitive for L/S exits or if there's no incremental differentiation provided by it.
I know people place into MMs and SMs from these firms in LDN; I'm more interested in how much opportunity there actually is to go from sellside to buyside in LDN given and if my background makes me more competitive than other sell siders that might want to switch into L/S.
Asking as it seems a lot of the rapid MM hiring growth is slowing down; I will likely prioritise the sell-side for now though.
I think the switch from sell-side to buy-side is very competitive but something every student wants until they see the depth of work at these large MM's you've mentioned or can't handle it as well. In my personal opinion, I think you having experience on both sides and being able to foster skills from both environments, puts you at a leverage point to be an ideal candidate in comparison to the students going straight from these BB's into the L/S HF space. I would think very carefully if I was you though as your getting a perspective after your summer from both sides and ultimately money doesn't really matter and more about what you want to do and makes you happy as cringe as it sounds. As you mentioned already, growth at these MM's have had slowed hiring, so I would take that into account whilst deciding what side to stick to. However I think you would definitely be at an advantage, especially with your technical knowledge. Congrats on the SA as well btw
Should be set, especially if you digest Brett’s course and get some reps putting it into practise. Will definitely put you ahead of the sellside candidates that we interview that haven’t got an actual process or quite figured out how to build a differentiated thesis on the drivers that matter.
MS/JPM have solid Research departments (unlike other BBs) which are respected by PMs and have solid brand names that BizDev/Headhunters look for. you can even stay on the sellside for a while as you build up your coverage and get known in the industry if you want to exit to one of LDNs top SMs.
Having HF xp and solidifying it with Brett’s teachings (I’ve done his course) will make you a top candidate if it’s what you’re interested in.
Would you mind giving a review of the FA course?
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