Post MBA Options for a HF Career? Equity Research vs IBD Associate

IBanker99's picture
Rank: Chimp | 5

Hi All -

I'll be starting at a respectable MBA program this year and will be in the fortunate position of having to decide between IBD or Sell Side Equity Research (Buy side would be ideal but taking a conservative approach)

So I was under the impression that IBD would open more doors generally, than Equity Research. I was willing to deal with the stress, the hours, and the work that can get a little repetitive with IBD if I could leave in a couple of years to do ER for a buy side investment firm or even go into PE. But apparently there is a regimented HF hiring timeframe for talent and that time period begins and ends with the Analyst program? Is this true? And if it is how reasonable is it for someone starting as Associate program at (GS,MS,JP) to get through to the buy side, PE or HF in a couple of years.

I guess my question is, is it better to just do Equity Research (take the pay cut with the better hours and more meaningful work) for a couple of years and then network into the buy side? The nature of sell side research work is much closer to what HF's do, coupled with the fact that you interact with Portfolio Managers on a regular basis, would it not stand to reason that sell side research is the better option between the two? Especially considering that the 'post-mba associate programs in IBD' seemingly have (fewer?) exit opps to the buy side.

Side Note: I see a lot of vitriol on this forum especially when there are dissenting views so please let's keep it civil

Thank you in advance

Comments (4)

Apr 20, 2018

IBanker99, pure crickets, that's where I come in. Any of these useful?

  • Hedge Fund Careers: Getting a Hedge Fund Job Out of Undergrad and Beyond the optimal career trajectory for so many. Hedge Fund Lifestyle and Wages The job rests significantly ... equity research. If you want to be in a systematic hedge fund / CTA fund, you'll need to do some ... banking will typically leave most doors open to pursuing a career in a hedge fund
  • Networking into a Hedge Fund? It's Unstructured. the IBD to HF article mostly inquired about how to go about networking your way to a hedge fund ... in banking, research, private equity, hedge funds, or some combination thereof. They know their ... thought it would be best to post this sooner rather than later so that those interested in the hedge fund ...
  • Day in the Life: Hedge Fund Associate- Investment Banking Background and when the market your hedge fund operates in opens, but for an Equity Long / Short associate ... conversations on life at a hedge fund (as an associate) we reiterate that this what you should expect if you ... working as a hedge fund associate with an investment banking background. The focus here will be o
  • Best B-Schools For Hedge Fund hedge fund business school <p class="h4 m-t-none">Business School and GMAT Forum ... Did a search and couldn't find anything. So what schools are best for getting into a hedge ... Answers</a></li><li><a href="[embed]">HF
  • 7 Figure Hedge Fund Salary- Myth or Reality? @LTV, a hedge fund associate, sharing details about smaller funds vs. bigger funds. LTV- Hedge Fund ... Fund Salary vs. Hedge Fund Salary On the more junior levels, fund of fund salaries are comparable to ... HedgeHog- Hedge
  • Post MBA Hedge Fund Career- How should I plan? MBA, how about first doing Asset Management? (equity research, high yield research) 3. If not directly ... associate is for people who want to have long term banking career) 4. Should I decide a specific strategy in ... post MBA job. Not sure if it is feasible to switch to distressed after HY experience- Merge Arb To me, ...
  • From <2 GPA, to Bulge Bracket and Hedge Fund career pathway, etc. For example, if you ultimately aim for hedge fund, a sell-side research experience ... a porter, to hedge fund intern, and finally, a bulge bracket intern **Yet after going back to school ... cold-emailing I have actually landed an equity research internship in an investm
  • How to get a Hedge Fund Internship a full-time position at a hedge fund out of college can be done. Compensation for HF Internships These ... Want to Intern for a Hedge Fund? Check out the WSO HF Guide Want access to 20+ more sample pitches with ... information regarding hedge fund salaries for internships through the Wall Street Oasis
  • More suggestions...

Who will rescue this thread? @Jpownow @Jpownow @Robert-Lee

Hope that helps.

Apr 27, 2018

i have hedge fund experience. Personally i think sellside IB is better out of undergrad but sellside ER is better out of MBA. here's why. Out of undergrad all the premium buyside recruiters love to work with you and get you a buyside gig. You have a ton of options. Out of MBA to IB, the recruiters don't want to help you, you're typically too old to be an associate in PE or HF. Therefore, you would have to network on your own as an IB associate which is not impossible but extremely hard spoken from experiences (I've emailed hundreds of buyside). I'd recommend doing sellside research and maintaining relationships with buyside and recruiters. If you work for a good analyst, he'll also get hit up about opportunities for his junior staff. It's true they might take a 2 yrs ib analyst or 2 yrs ib + 2 yrs pe over you but I think sellside ER opens a bunch more doors than you would be able to get on your own. Finding a hedge fund job is very difficult as is.

Best Response
Apr 28, 2018

I went from post MBA associate to HF from top M&A group. But it was really tough. Now that I am on the other side, I can see why. There are simply too many people with buyside experienice looking for jobs that the resumes with no buyside experience are the first to get weeded out. At least with sellside ER experience, you are thinking about stocks, the market, and doing something that is directly relevant to what you'd be doing on the buyside. I personally think -- I don't want to generalize, because all hedge funds are different -- that sellside ER people would sit higher in the pile of resumes and would have a better shot of making the transition.

    • 2
May 3, 2018