GS Equities vs. MS Fixed Inc. - Thoughts?

So, it turns out I got offers from both (see an earlier post - it took quite a while) in Sales and Trading (I want to do trading).

I think it is fair to say that Goldman has a slight edge but I don't know about the division, I would definately prefer to do something in the fixed income sphere, which is what Morgan Stanley are offering.

Would be good to hear your thoughts. Also - does anyone know the prospects of moving divisions after a Summer Analyst program?

Thanks in advance.

12 Comments
 

that's just crazy to say GS is the closest thing to heaven on earth. U should do what u're interested in, don't do it because of the name of the company. At the end of the day, it's about ur happiness and accomplishments that count, not the brand name or what people think of the brand name lol.

 

Thanks for the comments thus far guys.

I think it is worth mentioning that one of the things which I am thinking about is how much I should be preferring FI much over Equities in the first place?

Because I want to go into trading, I figure that Equities just isn't a growth market like some areas of FI are and that commodities, currencies and some bond products would be more interesting to be involved with.

Perhaps if someone has experience in both they could give some advice.

Thanks.

 
Best Response

FI is going to be a lot more quantitative I think. I worked at Blackrock last summer and as u know it was a fixed income house and we had to learn a lot about FI. Oh man it's like soo much more complicated than equities. Some people like that, some people dont. It depends on ur background and ur interest. Look up some stuff like interest rate swap, credit default swap, term loan, etc and read up on some FI concepts to see if you like it .

 

Fair point uzohoi. it is true that I would want to avoid very quantitative stuff. What I would point out is that things like currencies and commodities do come under the FI division as well and are generally less complicated than what you referred to. There are obviously pros and cons but I do think a legitimate concern is that equities (for trading at least) is not a big growth area. Companies aside - there is a question about divisions which I will have to think about.

 

In my view it's simple - If you think the FI world is more attractive go work at MS. Forget prestige for a second and put yourself in the best possible chance to succeed.

From what I can tell equity (delta one) trading is becoming more of a technology based business at this point. If I were to build an equity trading team I would hire more computer whiz-kids than traders. I think you are right to be concerned with the growth prospects of equity trading.

 

equity trading is quickly becoming VERY computational. I've heard to same thing as the above poster. If you aren't a whiz in algorithms and computer science than its probably not a long term option for you. But if they hired you and you aren't a CS expert then they obviously still have a role for you. Maybe something more sales/customer related. Or maybe fundamental institutional equities research...or something? You should somehow try to find out what these roles really entail.

 

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