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Depends on the desks/firms/roles. It also depends on your timeline. If you're looking to make a move to the buy-side following a 2-year analyst programme in S&T, you need to get some legitimate experience in the trading role.

If you were to get a role in IM as, say, a junior portfolio manager, I would say that role is better. That's generally an associate position, though, and most analysts in AM/IM don't start in that sort of role.

Given that, I'd say S&T is your best bet (unless you get stuck on sales).

BTW, I'm assuming you want to get into a PM role, and not a buy-side execution position. That's why my advice is what it is.

 

wow interesting - thx for the replies. i'm surprised they seem to heavily favor S&T since IM sides would have a lot of the banks' hedge funds etc. could you flesh out a bit how S&T can lead to a buyside role? i would think there was danger of getting stuck in sales/client execution there...

and yea guess i should have mentioned this is for someone (not me) who is applying for a summer associate position...

 

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