This relates to both IBD and ER but I've realized that no one looks at the ER forum, so here it is:
I'm torn between entering IBD or ER. IB seems more interesting to me, but I'm really not sure I'm cut out for the hours. I ultimately would like to work in a l/s hedge fund. I'm wondering what would be the best way to approach the application process for both SA next summer and then FT afterwards. Since I'm pretty unfamiliar with the process, I would really appreciate some answers to these questions:
How do you apply specifically to research positions? (as opposed to IBD) Do the banks that list on school career sites have separate listings for both ER and IBD?
Is it a bad idea / is it possible to apply to both ER and IBD at the same bank?
Thanks a lot to anyone with some insight.
1.) Typically, yes. Sometimes, they will recruit for a broad program that encapsulates both research and s&t.
2.) I don't think it would hurt, but you need to have a strategy. Bottom line is that Equity Research is totally cool with- if not prefers- nerds and mildly geeky people. IBanking might be a little more fratty. (I say this as an analytics developer who would play long board games with coworkers in fixed income research and equity research.) You have to decide on which work environment you want to be in- and maybe ultimately what kind of managers you want to have during the interviews.
2) I've been told not to apply to ER and IBD because it makes you seem unfocused. Not sure whether the same recruiter would be looking at both applications though so you might be ok.
What wallaby mentioned is exactly what I was worried about.
Anyone else have an opinion on applying to both?
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