Fixed Income Research/ Analyst out of UG
Generally speaking, is fixed income more difficult to get into relative to equity research out of undergrad? I would assume that a desired fixed income analyst would be a quant msf or something, rather than just a typical finance or econ major out of undergrad... what do you think?
Fixed income is typically split into different functions. FI Strats is more quantitative (of course, different banks have different structures as well), however many places do have FI fundamental analysts. Not sure if it is "harder" per say, however I think that finding a FI fundamental research job is a little more difficult than ER as they are typically not disclosed as being a part of any analyst or rotational program and spots are fewer.
Anihilist, is networking the only way to break into FI research then? Do you know the exit ops for FI research analysts? I assume their exit ops are much better than FI trader?
As for the OP, I read an article not too long ago about a girl from Beijing who broke into CS Fixed Income Research. Check this video out:
I'm honestly not positive on this. I'm in a very unorthodox situation myself, but I think that there are programs in FI trading where you can work as a desk analyst at many BBs. FI trading is a very broad term, so I won't make that comparison, but FI fundamental research (exit opps differ from strats/quant) exits are typically a L/S credit fund, distressed/HY fund, or something in AM.
Have heard of some people also going into ER, and where I work, one of the traders on the desk used to have my job in research.
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