Fidelity Strategic Advisers Internship

Based on the most helpful WSO content, Fidelity internships, such as the Strategic Advisers or Investment Research Associate roles, are generally well-regarded within the asset management space. However, they differ significantly from investment banking roles in terms of career trajectory, compensation, and prestige.

Key Points to Consider:

1. Career Path:

   • Fidelity internships typically lead to roles in asset management, portfolio management, or research. These positions are more focused on long-term investing and client advisory rather than transactional work.
   • If your goal is to break into investment banking, Fidelity might not be the most direct path. Investment banking roles often lead to private equity, hedge funds, or corporate finance, which are different from the asset management focus at Fidelity.

2. Compensation:

   • Compensation for Fidelity internships and entry-level roles in asset management is generally lower than investment banking roles. For example, first-year analysts in investment banking can earn total compensation in the range of $168K, while asset management roles tend to offer less, especially at the entry level.

3. Prestige:

   • While Fidelity is a highly respected name in asset management, it does not carry the same level of prestige in high finance circles as top-tier investment banks like Goldman Sachs, Morgan Stanley, or JPMorgan. This could impact networking opportunities and exit options if you're aiming for roles in private equity or hedge funds.

4. Networking and Experience:

   • Investment banking internships are known for providing rigorous training, extensive networking opportunities, and a strong foundation in financial modeling and deal-making. These experiences are highly valued across the finance industry.
   • Fidelity internships, on the other hand, focus more on research, client solutions, and investment strategies, which are valuable but cater to a different skill set.

Recommendation:

If your primary goal is to pursue a career in investment banking, it would be more strategic to prioritize IB internships over Fidelity. However, if you're open to exploring asset management or prefer a less intense work environment, Fidelity could be a great opportunity.

Sources: Fidelity Investments Investment Research Associate Internship 2019, What offers would you take over a BB S&T?, I did an Internship in IB now im unsure if following the path, it was shit, Loyalty v career progression, What are interns making this summer?