Admitted to CBS... Should I pursue the buy-side?
Starting school this Fall, background is in ER. Dream career is working at a value oriented HF or traditional asset manager. Not as interested in the multi-manager platforms since I wouldn't have pursued an MBA.
Beyond even obtaining a role post-MBA , there is the concern of being irrelevant as a fundamental equity analyst in 15+ years. The industry is obviously changing, and tbh does the world really need another person determining the right P/E multiple for Target?
All that said, I enjoy the investment process and the job's lifestyle compared to other roles. I see it more as a craft that I can develop over my life, rather than a means to earning a paycheck.
Hypothetically - let's say I had a choice between MBB or a solid buy-side role. What would you recommend I take. Nothing intrinsically draws me to consulting outside prestige and exit opps.
If the right choice is MBB, then I won't finish up the CFA and instead of focusing on pitching stocks I'll work on casing instead.
@models_and_bottles" , @jankynoname" , @West Coast Analyst"
The industry is declining so it's not a career I would recommend pursuing today if you're heading to a top MBA program, which incidentally provides the best career reset opportunity you will have in your life.
This isn't a 15+ year issue, it's happening today. Net flows have been massively out of active products into passive over the past 2-3 years, and that trend is only accelerating. This has negative implications for comp, lifestyle, and job security. The days of being an analyst at a long only fund and collecting huge paychecks with a relaxed lifestyle are over in my opinion. I can't tell you how many sell-side ER people I know that have been let go and the buy side is starting to see it as well. There will be pockets of success / firms doing well but the trend is clear.
If you're not drawn to consulting then consider other careers. I'm not sure why you framed it as a binary decision between buy side and MBB. There are huge variety of career opportunities out there especially at a top MBA program, don't limit yourself.
Well it is certainly an industry in decline, but if you enjoy investing and get into a good mutual fund, overall its a better gig than being a consultant or working in biz development at a tech company.
And if you are good at what you do and get into a good hedge fund, its still a great career I would say.
You would be well poised to recruit for MBB, clearly, but I don't think you would enjoy it if you're only focusing on prestige and exit opps. The work is relatively unique, and you will probably not enjoy a couple years there unless you can find a nice niche that reflects your interests (potentially FS or corporate finance projects).
CBS offers you a great platform to explore new opportunities within and outside finance, that's what I would focus on.
Do you think investing needs a lot of natural talent that can't be compensated through hard work?
Great comment. What type of Hedge Funds do you see succeeding in the future? Is there a future for non-quant hedge funds? Where is the highest upside? Quant Or L/S Equity Space? Which role is easier to maintain? Where is it easier to become a PM? Your views on the longevity of each role in the next 10/20 years?
Qui nihil voluptatem corrupti id maiores. Commodi et sunt repellat officia. Ut repellendus et dolorem dolores.
Repudiandae asperiores ad in numquam autem. Voluptate omnis aperiam ullam qui. Qui eos alias non sapiente. Et et dolor nihil rerum consectetur ut blanditiis et. Dignissimos autem modi distinctio occaecati.
Sit voluptas magnam dignissimos minus sint deleniti velit. Aut et cupiditate cumque unde. In et fuga quis et qui repudiandae illum. Veritatis consequatur ut voluptatem et et velit.
Qui aspernatur quod explicabo voluptas porro vel. Et rerum ratione sed dignissimos quidem ut quo ut. Sit dolorum magni quos odio aperiam repudiandae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...