Stay in sellside or take buyside offer?
I have a markets role at an institutional firm in NY/SF/CHI. Early in my career, not learning much.
Have an offer from buyside credit firm in NY/SF/CHI. Pay all in would be $275-300k, but extremely specific vertical and boutique. Not really interested in the vertical but I'd be on the buyside I guess.
In the long run, I want to move into public equities at a hedge fund or asset management firm. Might send a stock pitch to a few pod shops too.
Should I switch into credit or should I stay in my current role as it's already public markets focused and try and land something I'm more interested in? Maybe equity research or analyst/associate role at AM firm. This is in lieu of going to the credit shop and starting to recruit in 6 months.
Should I be patient and keep looking in this tough job market? If I go to the PC shop and I'd want to leave in 1-1.5 years so I'm thinking about if it's best to just continue recruiting from current position
Happy Sunday lads
a niche pc role will 100% pigeonhole you. wouldn't make the switch unless it's a space u for sure want to be in long term.
Based on the most helpful WSO content, here’s how you might approach this decision:
Long-Term Goals Alignment:
Since your ultimate goal is to transition into public equities at a hedge fund or asset management firm, your current public markets-focused role might provide a better foundation. Jumping into a highly specific credit vertical at a boutique buy-side firm could pigeonhole you, making it harder to pivot into equities later.
Recruiting from Current Role:
Staying in your current role and focusing on networking, building a strong stock pitch, and targeting equity research or asset management roles might be a more direct path to your goal. Public markets experience is already relevant, and you can leverage that to position yourself for equity-focused opportunities.
Buyside Credit Offer Considerations:
While the pay at the credit firm is attractive, the lack of interest in the vertical and the boutique nature of the firm could limit your growth and exit opportunities. If you’re already planning to leave in 1-1.5 years, it might not be worth the switch, especially if it doesn’t align with your long-term aspirations.
Job Market Patience:
The current job market is challenging, but patience and persistence in targeting roles that align with your goals (e.g., equity research or AM analyst/associate roles) could pay off. Sending stock pitches to pod shops and networking within the industry are proactive steps that could yield better opportunities without the detour into credit.
Recommendation:
Unless the credit role offers significant transferable skills or connections that could accelerate your move into public equities, it might be better to stay in your current role. Use the time to refine your stock pitches, network strategically, and target roles that align more closely with your long-term goals.
Sources: Banking vs. The Buy-side: 10.5 considerations, Breaking into buy-side equity research - my experience, Am I missing something about buyside exits?, Buy-side vs sell-side path to credit funds, BofA Wholsale Credit vs Credit Risk
Is the shop pure DL PC or are you able to do more SS work? Any public credit facing strats you may be able to work on? Those will be much more useful in jumping to equities than a stale markets role imo
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