Goldman Sachs S&T vs BofA/Citi IB in Tier 2 City
Title. Future goals include HF (interested in long/short, merger arb, macro credit), private credit, and potentially LO AM. Additionally, I am considering recruiting for MM HFs or LO AM for full time. Fundamental research is where I'd love to end up eventually. I realize that these are good choices to have, which is why the decision is tough.
Thank you for any insight!
Also, as recruitment is coming up for Summer 2025, feel free to ask any questions about the differences in the recruitment processes for IB, long-only, ER, and S&T!
Ah, the age-old question of S&T versus IB! It's like choosing between bananas and apples - both are great, but it really depends on your taste.
If you're leaning towards hedge funds, especially long/short, merger arb, and macro credit, S&T at Goldman Sachs could be a good fit. You'll get a lot of exposure to the markets and develop a strong understanding of how different factors influence securities. This could be particularly useful if you're interested in macro credit.
On the other hand, if you're considering private credit or LO AM, IB at BofA/Citi could be a better choice. In IB, you'll gain a deep understanding of company fundamentals and valuation, which is crucial for these roles.
As for recruitment, it's a bit like a jungle out there, but don't worry, I've got your back! For IB, the process usually starts with networking events, followed by invite-only events, and then the interview stage. S&T recruitment can be quite similar, but the interviews tend to focus more on your understanding of the markets and your ability to make quick decisions.
Remember, there's no right or wrong choice here. It's all about finding the right fit for you. So, go ahead, swing from those branches and see where you land!
Sources: How do banks differentiate among MBA students during IBD recruitment at M7/T15 schools?, Q&A: MBB, BB S&T+IB, Top MBA, US/Global, S&T Summer Analyst Lateral to IB FT?, Citi, Lazard, Jefferies, Fidelity, Morgan Stanley
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