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Depends on what you want to do long term. What I do know is, guy from my school going to Dodge and Cox ER SF is a good dude, and the other guy going to GS NR is a snakey Gaouy

 
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Wow, first of all congrats on two great offers. I mean both of those are extremely competitive.

Like most of the people here have mentioned, the decision should come down to what you want to do long term. However, this forum likes to push IB down people’s throats, so I just want to provide a little more information than someone who just sees GS IB and drops their jaw.

In terms of career path, the IB experience will give you strong foundational transactional skills that will serve you well in pursuing career banking, PE, etc. On the other hand, Dodge & Cox is one of the most well-respected buyside asset management firms. Most people stay in those seats for a long long time. But, if you want to switch it up in the future, most people lateral to other similar firms or move on to HF.

In terms of lifestyle, hours, and culture, it doesn’t really compare. Buyside AM roles offer much lower hours than the rest of the high finance world with average usually sitting around 55-60hr/week depending on the firm. You’ll likely have a decent amount of autonomy, but you have to put you’re money where your mouth is. If you’re wrong in buyside ER, it actually matters. I’m assuming you’re familiar with the hours at IB. I will say there is a couple positive aspects of working long hours. For example, after a couple of years in banking, there will be no question of work ethic for future roles. Plus, it’s a great tendency/skill to have for other roles that you can pivot into like PE, HF.

My advice would be to take some advice and think about your long term goals. What aspects of finance really excite you? Is it reading through a lot of information about an industry/company and forming a thesis on how it might perform in the future or is it working in a transactional, client-facing role helping companies perform M&A activities?

Can’t go wrong with either though. I hope this helps a bit. Good Luck!

 

Forgot to add location preference. If this is for FT, this is really important.

Are you comfortable in both cities? Do you have friends and family close to one city or the other? If you had to live in either SF or NY forever (a little extreme), which one would you prefer?

Don’t discount the locations just for the roles. Many people learn that the hard way and end up being stuck somewhere away from friends and family and are miserable.

 

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