Hey Guys I'm in a bit of a dilema here. (in a good way)
I have the opportunity to work at an institutional equity sales desk on a off-season internship that would potentially turn into a SA internship then hopefully to a FT position. It is at a top tier BB, arguable the best on the street.
I also have the opportunity to work as a SA for a mid tier BB (CS, DB) in their IBD Division.
I've tried to do as much research as possible on both of the divisions and realize they are two completey different functions at the basic level. (sales vs. ibd)
My question is what would you choose and why? Personally I am learning towards IBD simply because of the exit ops. Although they arent a top BB, I am a Junior so I can shop around for other offers next year.
The S&T firm has one of the best repuptations on the street and I connected with the team really well. The hours dont seem as bad, although they do wake up alot earlier for morning calls. What puts me off is the lack of exit opportunities. People have told me once you are in sales, you pretty much stay in sales.
And I have been told "do what you want to do". Both fields seem very interesting to me so it really is a toss up. Can anyone with expereince or very strong opinions chime in on this?
Thanks.
The question is what you wanted to do in the long run...
Being in a sales position might be a pretty cool one, as youre getting shitloads of money (if youre good) and have decent hours.
Being in IBD means having some very tough years (good pay but brutal hours) for the chance to find yourself in a PE position afterwards and making several millions per year in a senior position. Please be advised that only a very small percentage of these PE guys will ever make these amounts of money.
I guess nobody here can tell you what the right thing to do is, but let me tell you that I, who has focused on IB since starting my studies, regret not to have ever done S&T (though I think I would be a pretty bad trader :D).
Some sales roles can be quite interesting. At the upper end of the spectrum (i.e. exciting, demanding, interesting clients etc) you have something like Rates HF sales. Equity sales lies at the other end of the spectrum.
Thanks for the input guys.
@leeteasy - What do you mean by "shitloads of money" I know at a senior level it is highly tied to how much rev. you generate, but isnt it the same as IBD, at a senior level? Would you say that the pay is less than IBD, for the first 5 years assuming you perform well? From what I've read, its pretty standard across the street.
Also, you said you regret not having S&T? could you expand on that?
@Awon - Equity sales lies on the other end of the spectrum meaning that is a bit more boring than Rates HF sales?
As far as I know, the time between the career steps in S&T is rather dependent on your performance than just "time"(as in IB). Additionally, your performance can be measured more easily, as you generate revenue directly.
I regret not having done a single S&T internship, as I think it is a very interesting field. That does not mean that I regret heading towards IB (am still a student anyway), I just would have had the opportunity to see other parts of the finance world.
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