Urgent - stay sellside or move to buyside?
I have a markets role at an institutional firm in NY/SF/CHI. Early in my career, not learning much.
Have an offer from buyside credit firm in NY/SF/CHI. Pay all in would be $275-300k, but extremely specific vertical and boutique. Not really interested in the vertical but I'd be on the buyside I guess. In the long run, I want to move into public equities at a hedge fund or asset management firm. Might send a stock pitch to a few pod shops too.
Should I switch into credit or should I stay in my current role as it's already public markets focused and try and land something I'm more interested in? Maybe equity research or analyst/associate role at AM firm. This is in lieu of going to the credit shop and starting to recruit in 6 months. Should I be patient and keep looking in this tough job market?
If I go to the PC shop and I'd want to leave in 1-1.5 years so I'm thinking about if it's best to just continue recruiting from current position. Thanks Lads
Based on the most helpful WSO content, here’s what you need to consider:
Your Long-Term Goal: Since your ultimate aim is to transition into public equities at a hedge fund or asset management firm, staying in a public markets-focused role might align better with your aspirations. Moving to a credit-focused buyside role, especially in a vertical you're not interested in, could make it harder to pivot into equities later.
Recruiting from Current Role: If your current role is already public markets-focused, it might be worth leveraging that position to network and recruit directly into equity research or an analyst/associate role at an asset management firm. This avoids the potential detour of moving into a credit boutique and then trying to pivot again.
Buyside Credit Offer: While the pay is attractive, the extremely specific vertical and boutique nature of the credit firm could pigeonhole you, making it harder to transition into public equities. Additionally, if you're already planning to leave the credit shop within 1-1.5 years, it might not be the best move unless you see significant skill-building or networking opportunities there.
Job Market Considerations: The current tough job market might make patience a virtue. If you believe you can secure a role more aligned with your interests (e.g., equity research or AM) by staying put and continuing to recruit, that could be a better strategy.
Recommendation:
Ultimately, weigh the immediate benefits of the credit role against the potential challenges of pivoting back to public equities later.
Sources: Buy-side vs sell-side path to credit funds, An old man looking for advice, Banking vs. The Buy-side: 10.5 considerations, Routes to Buyside PM, Ask a VP in Equity Research anything
never take a job you aren't 100% sure about (unless you're in certain scenarios) because 1) you risk losing interest/underperforming/being fired, etc. changing your career trajectory in a way you didn't plan to and 2) job hopping in short time frames never looks good on resumes.
if you're 90% sure you want to do equities, then I don't see the reason to go to a PC fund, especially when your current role is markets facing anyways (unless it's some middle office/back office role you're claiming to be markets facing)
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