I'm a junior at a target (Ivy) interested in credit. I'm trying to figure out the best way to get to a credit HF. I currently have offers to join DB's structured credit desk as well as as a HY credit analyst at a >$1bn credit fund at a large bank. Obviously 1 is sell-side and 1 is buy-side but the jobs do seem very similar. I would think that the buyside program would be better but there is no formal training program and I was unsure of what type of experience I would have. On the other hand, I genuinely like the people atand am told they take a lot of principal risk when illiquid products. To me, this means that I would be doing similar jobs, but I may be wrong.
1) Please advise?
I am hesitant to join sell side trading for a few reasons. Sellside trading has obviously changed in recent years. Revenue has dropped and many of types of risk are discouraged. I know some traders who really are not supposed to take directional bets, but this may only be true for more liquid noncredit products
2) Please advise?
3) Does structured credit trading ever use fundamental analysis or it is more market making?
4) How is DB at credit trading?
5) Which would be better learning experience? Which is more marketable experience?
6) I am not sure I want to be career trader. I like the idea of starting my own business eventually. I think buyside credit investing may allow me to get more familiar into business models. Does this make the buy-side role a better choice for me?
Thanks guys! I may be a little confused about what sell side trading desks actually do. Also there may be desks at DB that I just don't know exist.