ER at Jefferies/Oppenheimer/Piper Jaffray or Equities at Schroders/Amundi/Janus Henderson

Prospect in Other

I currently have an ER internship offer from a IB firm (think Jefferies/Oppenheimer/Piper Jaffray) and an offer from a European asset management firm like Schroders and Aberdeen. I'm hoping to continue to do equity research after graduation, and am also open to fields such as AM and IB in the future.
The IB ER internship offer is based on the healthcare department, while the AM ER one is a generalist equities department. Also, as both internships are based in US, one concern I have is that European AMs might not have a strong foundation here. Which internship would set me up for a better full-time recruiting opportunities?

Comments (5)

  • Research Analyst in AM - Equities
Feb 5, 2020

Seems pretty simple - if you want to do sell side ER full time then take that internship.

I think the buyside ER offer is harder to get and is generally seen as a more desirable spot regardless of the firm being EU based or not. If you can't turn the buyside internship into a full time offer you will still be in a decent spot for full time sell side recruiting.

  • Prospect in Other
Feb 5, 2020

Thanks for your reply! My main concern was that the European AM firm, while big in Europe, may not have much of a deal flow or a brand name here that could help with full time recruiting. As my goal is to get a full-time ER role at a top BB, I thought doing ER at a relatively more well-known MM might be more helpful.

Feb 11, 2020

Deal flow? Its AM not IB or PE. No deals involved.

I would take the buyside AM role as those are viewed as more prestigious and hope to leverage that into a FT offer. The end goal for equity research is buyside equity research. Schroders and Aberdeen are also still well known in the US. If you want to do IB or PE, then I would still think that the buyside role would be viewed better (more prestigious) that you could hopefully leverage for a FT role in IB but not sure.

Feb 5, 2020

Take the buyside offer bro.

  • Prospect in Other
Feb 5, 2020