BB Asset Management or Macro S&T Internship for Full-Time ER Recruiting?
Hi everyone! I'm currently a junior (Class of 2028) and have recently received two SA2027 offers in NYC. Unfortunately, I am deeply conflicted about which to choose and would love to hear some advice or perspective on it. My long-term goal is to pursue sell-side Equity Research full-time.
One is in Global Capital Markets (Macro S&T) at a growing regional bank, and the other is in Asset Management Alternatives at a BB.
Macro S&T: The role focuses on rates, FX, commodities, and repo, with potential exposure to pricing, derivatives, risk analysis, and macroeconomics. Responsibilities include monitoring market conditions, analyzing financial products, and supporting trading activities and institutional client transactions.
BB Asset Management Alternatives: The role focuses on investment due diligence across private equity, private credit, hedge funds, and other alternative assets. Responsibilities include evaluating fund managers, analyzing investment strategies and performance, reviewing fund materials, and preparing investment committee reports to support fund selection and allocation decisions.
I'm conflicted because the Macro S&T role seems to offer stronger exposure to financial markets and potentially more technical experience, while the BB offers stronger brand recognition and more research-oriented work, though its research is focused on private-market funds. Since neither internship directly involves public equity research or company valuation, I'm unsure which experience would translate better into full-time ER recruiting.
Would really appreciate any advice or perspective on which to choose!! Would I also be making a mistake turning down Macro S&T at a regional growing bank for a BB investment due diligence role? (Also, due diligence sounds a bit weird I think it's more like an allocator role)
I also just don't want to be locked out of going into ER if I do a due diligence internship 😔
Some info regarding what I'm thinking:
Some additional context on why I'm conflicted: The regional bank is aggressively expanding its capital markets business, aiming to generate over 10% of total revenue from capital markets and looking to double its Wall Street presence. I see this as an opportunity to join during a period of growth, potentially gaining more responsibility, hands-on experience, and exposure as the platform expands. At the same time, I'm hesitant to pass up an opportunity at a BB, especially given its stronger reputation and potential networking opportunities for full-time recruiting.