IB vs long only AM out of undergrad

Hi all, I have the choice of working in coverage at a mid BB or at a long only asset manager ($2b-$8b AUM in a single strategy) out of undergrad. I'm having a pretty hard time with this decision, so would really appreciate any input.

My family is financially secure. Because of this, I am not trying to maximize career earnings and candidly just care more about having an enjoyable life and a career that supports that.

Reasons to pick AM:

  • WLB will be very good compared to IB. I will probably work 40-60hr weeks initially, with any hours past ~50 being of my own volition (no one will keep me past 5). There is no time sensitive work, so I will enjoy a very stable schedule
  • Work will be interesting. Looking at stocks is fun, and lacks all the process bs you have to do in banking.
  • Comp is a ~25% haircut to what I'd get in banking, which I think is market / slightly better than market and a good deal given the better WLB

Reason to pick IB / not pick AM:

  • I would have no peers my age at the AM since it's a small shop that doesn't hire juniors. In IB, I would have a lot of peers my age. I don't care a ton about the size of my professional network, but honestly I am worried about not having friends through work. I have some friends in NYC, but not a ton, so I'm wondering if not having the social experience of the big analyst class would be lonely / isolating.
  • Lifestyle aside, IB is probably a career optimizing move. It would preserve a lot more optionality across industries, and I could likely get into a better AM shop after 2 years in IB. I like the asset manager, but it is small, has no name recognition, and recent returns are underwhelming.

Honestly, the biggest factor in my decision is whether I would rather have more free time and fewer friends, or more friends and less free time. Any thoughts are welcome. Thank you!

1 Comments
 

Provident quo aut repellat ex dolores maiores est. Quae cumque non omnis ea. Qui accusantium minima sequi magnam quod iste. Voluptate nam culpa consequatur vitae saepe.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.2%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.2%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (48) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”