I'll keep this short and sweet:
You want to be an investor as a long-term career, and say you were given these two hypothetical job offers out of college:
1)High Yield and Distressed desk analyst - somewhat principal strategies like role where you perform fundamental analysis on different credits to identify investment opps. The desk has sizable to deploy (think 1.5b+)
2)Investment Grade Finance - Project Finance analyst. You are essentially in , though you will be under the umbrella. You will be placed on deals that involve infrastructure, energy & power financings... think power plants, stadiums, pipes.. etc.
I guess the obvious difference isvs MM. The role at 1) is much more appealing, but would it be better to go through 2) to learn all the traditional skills i.e. modeling?
Any thoughts welcome.