Best place to end up if you don't get IB
IB being the end goal what would be the best place to end up?
Which would be the better choice between valuations and equity research?
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ER all day
Seconded
Sales and trading. Less hours and at the junior level, the pay gap isn’t all that wide. Macro based desks are great for exit ops.
As a math + econ double major and now i-banker, I think macro desks are where I want to be but it might be a bit late
Sorry if this is a basic question, but why are macro desks better for exit opps?
Do you need a mathsy degree to work on a macro desk?
Out of those options ER definitely
What if it's boutique ER?
Corp Banking. Similar comp and very possible to lateral to IB later if you want
MBB or FAANG
Good luck getting into McKinsey if IB didn't work out.
You're not wrong though.
Nah Ik a couple who did that. Recruiting for the top banks was pretty early so a lot of kids werent fully prepped. After a couple months with more recruiting experience and after their sophomore internships, they did a lot better.
If you're interested in a specific industry, Corp Dev/Corp Fin. Can reasonably have a good chance of lateraling into reputable banks that way. Fairly common at the MM/boutiques
In general ER but very situation specific. I do a mix of valuation, corporate finance, and capital markets, and tech work, and would prefer the experience I’m getting over 95% of ER roles. Now if you’re doing big 4 client-based type valuations where the client expects a certain number, that’s quite a bit different and gets beaten out by most ER roles. You want a role that’s highly technical but also has good number of touch points for research, collaboration, etc. don’t want to be isolated in a silo doing generic valuation work all day.
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