Difference between S&T and Asset Management

Hello,
I'm currently looking for internships and I don't know which section is the most suitable for me. Particularly, I don't see the difference between Sales&Trading and Asset Management. Personally, I don't want to do Sales (I'm more technical than social). If I would describe my dream position, it would be a position where I do research about stocks (only stocks), develop new strategies and trade equities based on own decisions instead of just executing customer orders. I think Prop Trading / Hedge Funds would be most suitable for me, but as I have zero experience it will be too hard to get an internship directly. Does this match more with S&T or Asset Management (or even something else).
Thanks.

 
Best Response

What you're describing is a lot more like Asset Management

Sales & Trading has two main roles: * Sales: Sells research to Asset/Fund Managers so that they will execute trades with S&T desk. * Trading: Finds a way to process & execute large orders from Asset/Fund Managers, through the markets

Asset Management has about two main roles too * Sales (Relationship Management): Finds funds/pension funds that will give Asset Managers money to invest with. * Trading (Products): Comes up with strategies to turn AUM into more money, Does more research/less client facing, Basically comes up with investment ideas for Portfolio Managers.

Wicked Smaht
 

Really, wow. I think I'm going to choose -- regardless since I'll be able to lateral into a strictly Investing group my junior summer (I'm rotating between portfolio management & Trading and Sales this summer so it should be an easy transition for my junior summer), or I could check out any other group.. Goal is to be an PM in the long run.

 

Doing GS IMD as a sophomore would open up a world of opportunities for you in PM if you take it.

BAML S&T will do the same but GS is probably more well-regarded in the PM world.

Comp is completely dependent on how well you perform for bonuses so I wouldn't be too picky about that unless if you're extremely competitive. I'd probably take GS though.

 

Are you familiar with the different roles within each division and what they do? If so, there's nothing much we can tell you and you just have to make your own mind up about what you want. Sounds like any of these (S&T/AM/Research) will fit you if you enjoy following the markets. Trading is more fast-paced and short-term focused than research and AM.

If you're not familiar, then you should say so instead of asking which one is "the best."

 

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