PIMCO Product Analyst vs dbAchieve FICC Sophomore Summer for IB Track

Hi I'm a sophomore interested in pursuing IB for 2024 junior summer. Which would be a better option for me: PIMCO product analyst or dbAchieve FICC for sophomore summer? Many thanks

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tbh I think both roles are good/strong brands but mainly because I saw friends go through recruiting last cycle with sophomore internships accepted at BBs who recruited at different BBs/EBs for junior SA, and a lot of them had trouble convincing their interviewers of their reasoning for switching banks before even starting their sophomore SA. Obviously they "chose" their sophomore SA because it's where they could get an offer and obviously they want a more "prestigious" bank junior summer, but you can't say this in an interview. "I see you're interning at UBS this (sophomore) summer, what led you to choose them?" Instead of saying "its where I got an offer" you'll say "I really liked the people I talked to/culture there" and then they ask "so why are you interested in working at a different bank/here specifically for your junior summer, and you'll say "I really like the people here the best." You could come up with a better answer but its just challenging to convince interviewers of your reasoning for switching banks (besides prestige) when you haven't even worked at the first one yet, probably easier to go from PIMCO to top BB/EB than from DB to top BB/EB assuming similar roles (could be wrong bc idk exactly what product analyst role is at PIMCO), now if it was DB IBD that might change things, also PIMCO = tier 1 for fixed income while DB is not. At the end of the day both are good offers though and you will do fine as long as you have a good story.

 

Product analyst is not on the trading side from what I remember. I’m assuming this is the product management role. Moreso advertising new funds etc. DB FICC would be better.

 

I see! I'm curious to hear your perspective on the product analyst role vs portfolio management. Based on my understanding, the product analyst role is not completely sidelined from investing compared to account analysts which is more client-facing. Do you think there is a large distinction between product and portfolio in terms of prestige and especially when it comes to IBD recruiting? Or will some recruiters not even care abt the difference? Many thanks!

 

I’m unable to understand the person who claims DB isn’t tier 1 in fixed income? Or maybe I just don’t understand what WSO tiers are all about.

Anyways, at least as far as I know, DB’s FIC is it’s strength and imo (at least in the EU) is stronger than its M&A franchise. I don’t know what desk exactly is your internship going to be on but both the private and public side of the business within global markets is nearly if not top tier.

Yes, PIMCO is prestigious but then comparing what it does within FI with that of DB’s might be an apples to oranges comparison?! Also, sorry I don’t know what you’ll be able to do within that specific role at PIMCO.

Overall, no, doing DB FIC and then aiming for IB (whether markets or otherwise) at banks like MS, JPM would not be a bad choice

 

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