MM IBD or BB S&T?
Really fortunate to be extended two great offers for my summer 2021 internship (both in NYC). One is at a UMM IB firm (think HL, Piper, Jefferies) in a non-rx group, and another in Trading at a top BB (GS, MS, JP) very likely on the credit trading side of things. Long term goal was always Global Macro or HY/Distressed Credit type Hedge Fund. Any takes on how to proceed?
Also, have one month in between S&T internship and sem end so I can squeeze in another short IBD internship at a LMM shop that I have great relationships at (they're fine with a one-month long stint before I move to NYC)
Bump, was in same sit and took S&T and loved it though
Not sure if JP takes desk analysts out of undergrad. So I'd take the IB offer if your long-term goal is credit investing
Wdym? JP doesn't hire full time S&T out of undergrad?
No I'm saying credit desk analysts, who are the people doing most of the legwork in fundamental research
is it common for grads to work in a desk analyst role? are most desk analysts more senior and have worked on the trading floor for a number of years?
I think both will offer you great exit opportunities. So first of all, congrats on getting those offers. Good on you.
Second, I would say you should go with what interests you most. Yes, considering exit opps is always good but at the end of the day, top performers can go anywhere. So go with where you feel you would enjoy working and, consequently, perform your best. Different personalities required to be successful in IB vs Trading and vice versa.
Are you very quantitative? Like a fast-paced environment? Or do you like longer term projects and more of a team atmosphere? Things to consider.
In the end, you can't go wrong with either.
Don't do BB S&T...
I did BB S&T for my SA. It made recruiting for FT MUCH harder, and you have to work way harder to demonstrate your interest in IB.
If your long term goal is to do be in a global macro hedge fund I wouldn’t do IB. Completely different skill set
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