Buyside -- Sellside -- Industry

Hi everyone,

I know this topic has been discussed; however, it has been some time based on the threads I've seen, and given the highly dynamic nature of the business, I wanted to pose the question again: does it make sense to ever go back to sell-side from buy-side? Would the rational action be to exit the industry ASAP?

I know all situations are different, so I'd like to share mine and gather thoughts:

I graduated with a garbage GPA from a non-target in the Midwest, was able to gain three years of experience at a boutique independent sell-side shop on a consumer team and have been at a US long-only (~$15b AUM) for the past two years. We've had some turnover at my current firm, and (shocker) we haven't back-filled with anyone due to cost cutting and now equities and fixed income research are under one umbrella. I am a CFA level III candidate.

Currently I have opportunities in an IR/FP&A role at a large firm (Fortune 50) in the middle of nowhere, a lower-tier BB ER Sr. Assoc. role where the IB side banks heavily, and my current gig where I have a BBG terminal, CIQ, access to a plethora of research and NDRs, and work an 8-5 with no weekends. The catch is that the buy-side role pays the least. I truly don't want to be in NYC, and am currently not in NYC.

While everyone values work/life, pay, experiences, etc. differently, I'd love to hear some thoughts if the crowd is willing to give them.

A few specific Q's:

  1. Does it make sense to go back to the sell-side from buy-side if you are able to increase your total comp by 30-50%?

  2. Is the experience of a buy-side role so rich that it makes sense to sacrifice pay now for upside later? Is there upside later at all?

  3. Both businesses are pressured, there is no question, so do you just take the money and run as long as you can?

  4. Do you get into industry ASAP (corp dev or IR) given the pressures alluded to in question 3?

Appreciate all views.

 

Hi LongsOnlyPlsThx, check out these resources:

  • Going from Buy-Side Analyst to Sell-Side Equity Sales? going from buy-side to-> sell-side (which i would be willing to do), but they want me in an (cash) ... Equity Sales role! I am open to go to the sell-side, but did not expect that. I was expecting a Research ... appreciate any advice on that! sales;equity;sell-side ...
  • Moving to the buy-side from the sell-side forget the sell-side, and say i'm not going to stop until i get to the buy-side with my current ... i have some leads on some buy-side firms- mutual funds and hedge funds, non value-oriented firms- but no ... to equity research to start earning some money again and move to the buy-side later? If i go back to ...
  • Sell-side M&A vs. Buy-side M&A information between your client and the sell-side advisor. Both sell-side and buy-side M&A require a lot ... sell-side is that they have a much higher chance of closing (1 seller, many buyers). While that's not ... opportunities too). It's not to say you can't learn a lot on buy-side too as you'll do valuation ...
  • Sell Side and Buy Side Trading Career Path Buy-Side To Sell-Side From No-Name College To Buy-Side Out Of Undergrad Buy Side VS Sell Side Trading Want ... Side Firms Sell side firms such as Bank of America, Goldman Sachs, and Morgan Stanley have large, ... prolific sales and trading arms that have hierarchical levels just like the investment banking
  • Confused about Finance career paths, is my understanding of buy-side VS sell-side correct? Finance- Sales- Trading- Legal What I can do to get here: MBA Buy-side: Funds What they do:- Buy and sell ... Ok so I know this: Sell-side: Investment Banks What they do:- Buy securities from the primary ... securities from the secondary market in hopes of making capital gains- Buy equities from the the sell-side ...
  • Does buy-side have the automatic promotion as in sell-side? Does buy-side have the automatic promotion as in sell-side? Investment Banking buy-side sell-side ...
  • moving from buy-side to sell-side i know the typical path is to go from sell-side to buy-side, but how difficult is it to do the ... eventually move to the sell-side to a market-making role. how easy would it be to get sell-side interviews ... after doing a stint on the buy-side? ...
  • from the buy-side back to the sell-side it's sell-side > buy-side and not vice-versa. ... for another BB at the sell.side, then moved to a long/ short equity hedge fund (so buy-side), but then ... came back to the sell-side (his current position at the BB). Does that happen often? I always thought ...
  • More suggestions...

I hope those threads give you a bit more insight.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Sorry to get off topic here, but do you have any advice for how to find a boutique long only shop such as the one you’re at? I am currently in SS ER with under a year of experience, but have decided I don’t think it’s for me long term. I would sacrifice pay personally to work on the buy side where you are actually learning how to invest and not to mention a shop like yours where the hours aren’t as bad it sounds like.

 

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