Career Advice - AM to trading/macro?
Ever since I started my undergrad, my recruiting mandate has always been S&T or HF - basically the jobs that are more connected to the market and would offer me a chance to run my own risk/manage a book down the road. Now I'm in interning at a niche shop with a pretty broad investment mandate that doesn't warehouse any meaningful amount of risk(more like an allocator).
Maybe it's not so grateful of me to say this given that I'm just starting my career and I can practically learn a lot from any job. (I guess also I should feel lucky to even have somewhere to intern in this economy) But honestly, my current job doesn't excite me much. Because 1) my seat is a bit research focused, 2) the product we invest in is not very marked to market and no meaningful amount of risk is taken. Therefore, my initial mandate of recruiting is further confirmed by the feeling I'm having rn in terms of what do I really want.
Now I'm about to start my next cycle for 2024 SA. It appears that there are more seats/opportunities in the AM arena. This lead to my 2 questions - 1) what kind of risk do people usually take in AM? I know it's probably product dependent - but are there many AM seats that do rates/fx? 2) For someone who ultimately wants to end up in a macro hf, is there a viable path out of starting my career at an AM (in a relevant team/product ideally I guess but Idk if that's in my control)? Or should I just stick with s&t given that its a more traditional path towards what I want?
I would greatly appreciate any insights or advice you can provide.
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