Buy-side credit research vs. Fixed Income trading (Asset Management)
Hey everyone,
I received two offers and would love to get some guidance on which would be the better long-term move for my career. This will be my first job out of undergrad, and my ultimate goal is to end up in an idea-generating portfolio management role, ideally at an asset manager, hedge fund, or another buy-side investment firm.
Trading Role:
- Location: LCOL city
- Compensation: ~$92K base, $4.5K sign-on, 10% target bonus
- Role: More execution focused, good training, not a very big name but a legend in their niche
Credit Research
- Location: MCOL city (I really like this city, and would prefer to be here)
- Compensation: ~$80K base, unknown sign-on, 30% target bonus
- Role: Investment position at a large insurance company (think Prudential, AIG, State Farm). Focused on credit and fixed-income research. Household name and Fortune 500 company.
My main questions are: Which role would better position me for an eventual move into portfolio management? Would the trading role pigeonhole me into execution, or could it serve as a stepping stone to an idea-generating PM role? Conversely, would the insurance investment role limit exit options to only other insurance firms?
Thanks in advance!
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