Starting on the buy side?
I know there are lots of thoughts about starting on the buyside -- would love to hear a little more. I am taking a buy side investment management internship and am not sure if this will limit me. The internship is in New York, at a company with ~$400B AUM.
Based on the most helpful WSO content, here are some insights about starting on the buy side, particularly in investment management:
Internship Experience:
Career Path:
Long-Term Prospects:
Networking and Skill Development:
In summary, starting on the buy side, especially at a firm with ~$4B AUM, can provide valuable experience and opportunities for growth. It may not limit you as long as you leverage the experience, build a strong network, and continuously develop your skills.
Sources: Advice for summer Asset Management interns, AM vs HF: The Business of Our Business, Incoming Buyside Equity Analyst - Seeking Advice, Please Advise: Never-Ending Job Hunt, Moving from Asset Management into IB / PE
I did a buyside internship and converted but decided against taking it FT.
Main reason was the lack of training, some of the larger programs (KKR, Ares, BX) have structured programs which make them worthwhile. Whereas we didn’t, I also saw how interns who joined FT were treated as basically jokers vs people who came from an IB background and the IB guys were just way more capable at the job and could do things much quicker.
As a result I passed and now am incoming at a BB so it worked out well but that’s my 2 cents
Did you rerecruit for BB SA or did you enter through FT?
SA and converted that to FT
thanks for your response—can i ask which company this was for if you’ve moved on? mine is also somewhat small but they claim to have a very structured program, so hoping it’s not the same company haha
I did my SA at an AM before choosing FT at a small HF. I’d say for me, the main reason why I chose to stay on the buyside is purely due to passion for markets.
I was always passionate about markets since freshman year of college, and couldn’t think of choosing any other career besides within AM/HF.
For me, the passion and learning opportunities within my full time more than made up for the unstructured nature of the role.
Mentorship is always a big thing within the buyside. When you have a really good mentor/boss, your work experience is really geared towards self development (whether that is catering projects more towards your interest, learning, or challenging you to think outside of the box).
Sure I may not have the same structured training as others do. However, I would argue that I was able to build a way more robust foundation compared to others given the bigger responsibilities, projects more catered to my interests, and a lot more rigorous/in depth review of the foundational concepts (ie read a lot of academic papers). Try to find a way to build your edge/niche within the firm that makes you stand out apart from others (just any sort of soft skill/analytical skill/background that no else has that is a value add).
Overall I’d say the buyside is not for everyone. But if you have a genuine curiosity for markets and a big drive to outperform, you will do just fine for yourself. Just stay grounded & don’t over stretch yourself in terms of career expectations (i.e. envy is always the thief of joy).
Beatae veniam culpa vel non reiciendis quod molestias. Aliquid nam eos perferendis ea consectetur. Consequatur et optio fugit voluptatem unde. Perferendis enim ut rerum sunt voluptas. Dolores qui magni consequatur qui deserunt fugiat rerum.
Maxime quo et error itaque quia quo tenetur. Maxime molestiae nisi maiores corrupti dolorem porro dignissimos. Quia atque sint doloribus rem.
Et exercitationem a repellat voluptatibus. Nulla reprehenderit error corrupti tempora aliquid cum deserunt. Praesentium exercitationem quia harum deleniti. Ut dignissimos natus reprehenderit dolores voluptatum nostrum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...