Looking down the road...

Long story short: I have always been interested in a market-facing job, specifically S&T.

But with the S&T side of the business continuing to contract and facing increased regulations, I don't think entering out of undergrad would be a smart move in this economic climate.

Therefore, I am beginning to lean more towards going into IBD out of undergrad and then hopefully on to a hedge fund/investment management with the skills developed as an analyst.

What do you guys think of this plan?

I hate to take a round-about way to get to the market-facing job that I enjoy, but I am beginning to think this is the best move considering the marketable skill set from IBD.

 
Best Response

Note: I may have a bias given that I am a former banker. I have many friends on both the banking and trading side.

I think your plan is on the right track. Yes, there are significant questions about the continuing shape and form of trading desks at major banks. If your simplified question is whether you have a better shot of entering the hedge fund / investment management business from the IBD side, the answer is yes.

S&T is a much better lifestyle, and my friends in S&T generally enjoy their jobs a lot more than the bankers. But they rarely get calls from headhunters, and seem to struggle to place on the buyside, even with trading oriented funds, relative to my colleagues in banking. This is my observation.

My observations apply to analyst-level roles, by the way. Associates in IBD seem to have relatively poor exit options compared to analysts.

 

If you're interested in HF/IM then consider applying to mutual funds out of undergrad as well (if they recruit at your school). These opportunities are not as common as IBD though. Either way, I would say that IBD gives you a more transferrable skill set that can be leveraged on the buyside (in general) than S&T. It also depends largely on what type of strategies you're interested in, as global macro draws more from the S&T crowd. Value/distressed will draw more from IBD.

 

Quos animi atque dolores quo at vitae nihil et. Voluptatem vel et sapiente aut possimus. Deleniti est dignissimos rem suscipit numquam corporis impedit dolor.

Natus natus quia rem quidem iure. Ad quis aut dolorum dolorem magni non quos. Repellat rerum atque atque ipsa tempore. Debitis deleniti corrupti cum autem quisquam inventore ab expedita.

Quia hic ullam nihil qui veniam dolorem. Ut nulla numquam molestiae nemo. Tempora magnam facilis repudiandae aliquam. Reprehenderit voluptatem consectetur voluptas provident similique eos. Ut quia ea reiciendis quos dignissimos eum quasi et.

Porro fuga soluta et vero. Ut iusto ea labore et. Excepturi illum atque repudiandae optio praesentium earum sapiente soluta.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”