Two offers: one for T Rowe Price equity research in Baltimore, another for an elite boutique in New York. Which offer should I take if I want to be at a top fund (HF or long-only) down the line?
I know the EB will give me a wider range of opportunities. Trowe will give me the training necessary to become an investor, but it's in Baltimore.
Does the benefit of working at Trowe make up for the opportunity cost of foregoing an offer with an EB in New York, and the network/opps that come with it?
Thanks!
Anyone? I’d appreciate the advice!
If you want to do long-only equities than T.Rowe is a great name in the space. If you are unsure of what you want to do and want to leave the door open to doing other things like PE, activist strategies, debt funds, etc. then you should take the IB position.
I’m sure I want to be in the public equity space, but not sure which strategy. Will Trowe give me the skill set for multiple types of strategies or is it going to limit me to long-only?
Thanks again.
Trust me you will get constantly pinged for L/S roles from Trowe lol
You will likely be viewed as a long-only mutual fund guy if you go down the T.Rowe path. Nothing wrong with that in my view. But, I think you would find it more difficult to move into a long/short fund or anything that requires some form of transactional background. If you are certain you want to do long-only equities take the T.Rowe job. If you want the possibility to do other stuff then the IB option is a better fit. Also, you can always exit from IB to a mutual fund if you decide that's what you want to do.
Just as an FYI, I'm a buy-side equity analyst at a long-only shop. I can build merger models and LBO models as well as anyone so you would think I would be able to land positions at other types of funds. But, I almost never get taken seriously when I apply for activist funds or the long/short guys or the arbs. They almost always come back to me saying they want the guys with the IB skill set. Just something to think about.
I find researching companies to be really rewarding intellectually and I have a great work life balance so in a way I'm glad I didn't do the IB path, but in many respects it opens a lot more doors for you.
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