Wondering how to figure out if I would enjoy IB vs S&T as a career. I know that they are vastly different paths. I just don’t know which one I would fit with better. Could anyone touch on skill sets and personalities that fit best for each. Thanks in advance
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FYI I am a rising junior at a semi target with very solid experience
What's your experience?
F500 finance & PE internship
Both S&T and IB are very client-centric. I'd say S&T is more so - you work quite a bit with the same clients on the same types of trades that they are looking to execute. Since a lot of S&T is automated/becoming automated, S&T is becoming more and more "sales" driven rather than "trading" driven. There has been a lot of talk about S&T shrinking, you don't want to go into the field, etc. And most of that is true and real, but there will always needs to be someone talking to clients making sure their trades are executing the way they'd like.
IB, as opposed to S&T, is definitely not shrinking. If you are someone who just works really, really hard, has immense amounts of drive and determination, and has good attention to detail, IB is probably a good fit. Someone who is a slacker just doesn't make it in IB. IB is for top performers, I would argue.
TL;DR S&T is a fine career path, and it is more client focused than IB. You spend a lot of time on the phone, your hours are more like 6am-6pm, and you have better weekends/holidays. IB is a solid career path. It is for determined and hard-working individuals who can work long hours and be okay spending 5 hours fixing up a fancy presentation for a client.
+1 Thanks for the response. I really like M&A but have always found the markets interesting and understand that it gets harder to lateral between the two after undergrad. The hours in S&T appeal more to me, but at this point in my life I would give up work life balance to build a career that will be more fulfilling in the long run- which is why I'm really trying to figure out my best path
Although I'm a strong advocate for IB, if you consider yourself someone who has above average confidence and the ability to think quickly on your feet, the S&T route is one that will exploit those qualities. OTC sales I've always found interesting and may be something worth looking into. Overall, I think the most important quality of working in S&T is having extreme confidence and not second guessing yourself. Also, at the junior level, I think you have to be willing to eat shit and come back for more.
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