IB —> AM/ER

Currently an IBSA but found that I am not really interested in the M&A process and want to transition into a field where I can pursue my passion of studying the markets, which has been my passion since a young age. How is former IB experience viewed by AM/ER firms during the hiring process?

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Comments (6)

Most Helpful
Aug 21, 2020 - 1:21pm

I'm in a macro/quant type-ish role at a big AM shop (no, literally nobody can describe what I do other than 'fix problems')  I've got no clue what they look for in sell-side ER but to break into public AM without an internship at that specific firm you probably need to pay your dues and put in a couple successful years in IB.  Even big shops like ours don't take in hiring 'classes' like IB.  Hiring somebody unexperienced for an interesting role if they weren't an intern the prior year is almost unheard of.  I'd suggest putting in a couple of years then looking to lateral if you want to think AM.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
  • 2
  • NA in AM - FI
Sep 4, 2020 - 3:36pm

I made the transition after a couple of years of IB (M&A). Traditional AM firm turnover is pretty low (think: mutual funds) so spots don't open up that often, but timing happened to work out for me. IB experience obviously viewed positively but at the end of the day, they care less if you can build a fancy model and more about how you think about businesses and can you generate good investment ideas. 

  • Research Analyst in AM - FI
Oct 1, 2020 - 9:22pm

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