Dillema between IBD n ER Position

I feel like you should pick one of the two.

It's a lot easier to have your "story" down when you choose what you want to do.

When it comes to networking I don't think that telling alums that you're not sure about what you want to do is a good thing. It's a lot easier for them to help you if you are specific.

Also, when preparing for interviews, if you pick only one of them your life will be a lot easier - although there's obviously things that apply to both positions.

You just gotta think about what you want to do the most...

third that. you need to figure out where you want to be, not both. what do you like about ER? IBD?

Do you think ER will place you at a good fund? elaborate more on your goals/where you see yourself and we can help.

I think go with both, you will get a feel for the type of people that do IBD vs ER in the process - besides preparing for both isn't going to kill you and being versatile like that is a great skill!

ER: Applying into Er, I am thinking more on a long term basis. Honestly, I think I would enjoy the nature and content of the work. Building models, evaluating financial statements, writing research reports, and basically becoming an expert in one industry sounds ideal to me. It's something I can see myself long term, so I am not thinking about exit opps. Plus, I like the overall mix of client interactions, interactions with capital markets personnel, and then kind of also doing my own independent work. I think that balance is more suitable to my personality. But the problem with ER is that not all banks have ER internships, and most only have the general Research intern position. So that makes applying to ER even more of a predicament because I am not sure whether I would get the opportunity. And if not ER, I don't want to do other kind of research roles.

IBD: I have a more short term focus, if go into IBD. For obvious reasons, IBD is a great place to begin my career. I get to work on live deals, gain tons of transferable skill sets, and interact with clients. But after a few years, like most analysts and associates, I would probably also be looking for exit opps (PE, hedgefunds). And IBD is great for exit opps. What i don't like about IBD is that it's not really a long term focus. Plus I don't like the fact that the more senior you become, the less relevant the fundamental skill set that you acquire through working as an analyst and associate becomes. At the MD level, it basically becomes all about relationship building with clients. With ER I would be doing the same thing that i started as a newbie, but with just a lot more experience, and a lot more client interaction.

so I was thinking that for banks that specifically offer ER internships, I'll go for that. For the rest that only offer general research internships or worst only Capital Mks internship, I'll apply for IBD internships. So what do you guys think? Does my logic seem reasonable??

Sounds like a plan...

Capital Markets is nothing like research. Capital Markets is closer to IBD and at the smaller banks are not considered separate. Research is on the other side of the Chinese Wall.

Keep in mind it will be easier to switch from IBD to ER, then it will be to switch from ER to IBD. Just a thought.

Level II passed, are you in B-school? impossible to do I feel if you are a junior applying for a summer internship..

I am doing a Msc Finance course from a well respected program in Europe. Anyways, so people some insight please. Perhaps some loopholes in my logic that I haven't covered???

theres BBs that have Equity Research as a summer position. its a good role hav a friend doing iat at JPM and got offered for fulltime 2011.

be careful, its not as sexy as it seems. sellside er pay is better and hours are worse. buyside your looking at 70+10k bonus.

Any input on differences btw ER intern interviews and IBD interviews?

much different obviously. know stocks and why you would invest into them know how to value etc dividend discount model etc i dunno easy shit man