Why is WSO anti-buyside out of undergrad?
I was wondering why everyone on WSO is so against joining the buy-side right out of undergrad, given the opportunity? I've spoken to a wide range of people with ranging seniority on the buy-side, from analysts that chose LMM over BBIB to analysts at MFs or large-cap HFs. Nobody that chose the buy-side before IB regrets their decision. Also, many of the people later in their careers who got to the same spot they could've gotten to if they didn't do IB say that they would just join the buy-side right away instead of doing 2+2/2+2+2.
Also, just based on common sense, why would an LMM analyst that has closed twice as many deals as an associate at an MF be less qualified than a PowerPoint monkey from IB to do MFPE? Logically, that doesn't make sense whatsoever. Or how is an analyst at awith actual direct investing experience (PnL contributions), less qualified than someone who formats logos all-day, for a spot at a large-cap HF?
I'm only in college, so I may be naïve, but I feel that the IB "training" isn't as worth it as it seems. Especially since more top firms are recruiting straight from undergrad. Plus, our careers will be very long and I doubt they would actually be linear. Also, if things don't work out, you can literally just go get an MBA and do a hard reset, and start back from scratch (making great comp) mitigating any "risk" from joining the buy-side out of undergrad.