IB or buyside after undergrad
tldr: I’ll be an SA at a top EB this summer. Do I accept a return offer or go for a buyside role in my non-NYC hometown straight out of undergrad (in long only public equities or maybe PE)?
more info: I anticipate being moderately happier on the buyside, as I’ll be near family & friends, work moderate hrs, and can be a multi-dimensional person. That said, I don’t want to give up the branding from the EB, the connections I’ll make, the skill set I’ll develop there. I plan to eventually attend HSW and then maybe start a company.
Curious which you guys think is better for my career, straight to buyside or an analyst stint at a top EB, and by what magnitude.
Buyside
Do you think I would lose overall clout though, from the branding and just being in NYC?
are you 12?
you lose clout by being a fucking pussy
I’d worry about this getting a return offer.
Historically return offers have been 85-90% but you never know with the economy not being as robust as before. Who knows what’ll happen to offer rates by august
Yep I agree there, and of course I will aim for that, but this is a hypothetical question based on assumptions. Curious what you think though, with the assumption I get a return offer
Curious to see why'd you see a fall in returns even if the economy begins to fall? I'd figure analysts are the cheapest and cuts would primarily be at the VP level?
Generally when firms don’t do well they don’t give out offers so their future costs don’t increase why increase headcount when deal flow is going down?
Interns / incoming first year analysts overall are a net minus to a firm. If economy isn’t good, a firm can easily hire well trained 1/2nd year analysts from other firms that got fired for the same amount instead.
Also, not giving an intern an offer costs nothing for the firm. Firing analysts (albeit not that high) you still have to pay severance, etc.
EB, if you start out on the buy side, you have to produce or get out. With the EB you can actually learn something and have the connections with coworkers and people that you do business with. This can help you out when you want to leave the industry to start that business of yours.
The quality of the buyside firms you can recruit for would increase following an EB stint relative to out of undergrad. For this reason the two years spent with an EB make sense career wise.
I don’t see what long term benefits the buy side gig offers you that the EB won’t. I’m all for the buy side after skills have been developed but at your level, why wouldn’t you go to IB where you can develop the skills while simultaneously making more money and making connections you wouldn’t otherwise make.
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