MS Research or GS Compliance?
for a junior summer internship. Interned at GS before, securities call backs were horrible, have VP friends who I know would bat for me in compliance. I have an interview lined up with Morgan Stanley's Investment Research team as well. Let's say I get both GS Compliance and MS IR. Which should I pick and why?
I think I can mobilize around GS for FT when the time comes but my alumni base isn't so great at MS (top 5 network at GS, not great at MS).
research > compliance compliance = internal risk management right?
research no question
Easy decision...research.
Unless you have some specific reason to believe compliance would be a better fit, you shoulr pursue the research position. I'll be surprised if anyone tells you that compliance would provide a better opportunity for you than research.
The reason why I put down compliance as a viable option is because I got to know this one VP very well; we even went to a concert together, and he seemed to be making bank with a mansion in NJ, a 7 series BM, married with a couple kids and he was the sole provider. On top of that, I liked GS's type-A culture and the fact that I had so many prominent alums that always watched out for their own. Further, compliance might be just a summer stint and I might be able to mobilize into research for FT anyway.
On the other hand, research at MS seems great. I have no idea what the pay, culture, or future outlook for MS is though. I might be totally mistaken but what I saw that GS VP with made me feel like their comp is such an outlier that down the line, it might not make a diff if I do research at MS or comp at GS. I could be completely wrong, but this is just what I've seen (which isn't much).
Even though I've interviewed tons before and feel confident to land both, I'll just wait to see if I even actually get the offer and then shadow people at both.
Still open to opinions or first-hand experiences though...
Do you by any chance know how much the GS VP makes? I would guess 200-250k base, but it’s tough to find reliable salary info for compliance roles. Also, does he have a JD? It can be tough to progress in certain compliance divisions without a law degree.
Worry about getting an offer first before you start choosing which one to accept.
You are waisting people's time on this forum with these hypothetical questions.
I know that you say that you are great and everything and that you expect offers, but from what you posted it sounds like you don't even have one offer yet; and in this market you should not assume anything.
Since I am already writing I will give you some advice anyway:
I highly doubt that you will make as much in compliance as in research, especially once you hit senior analyst, although I could be wrong.
I know a person who interned for compliance one summer and did everything possible to get into equity research (not sure if by investment research you mean equity research or PWM) the following summer. That intern told me that everyone in compliance is trying to get into research (or other front office).
In research you will be writing research reports, in compliance you will be reading those reports to make sure that someone did not inadvertently (or on purpose) type the word shit in the middle of the paragraph, like that one guy on WSO who said he wrote that word in his cover letter to see if recruiters actually read cover letters.
double post
Research no doubt...seriously
research no doubt front office man
I guarantee you it's easier to move from research to compliance than the other way around. If nothing else, think about which one gives you better options.
If you're considering this decision, then you deserve to be in compliance.
agreed.
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