How do these two differ? I'm only asking as the is the first time i've seen the job title "Investment solutions group".
I know equity research is seen as front office, but would i be correct in saying ISG is front office too?
How do the exit opps differ?
As far as i know, equity research is advising the firm of whether to buy/sell certain companies through the research you have done.
Where does ISG fit in at grad level? It states putting together investment portfolios but clearly a grad student wouldn't do that. So would it kind of be using the ER departments research in order to do further research to show the fund manager how to invest a client's money?
Don't know anything about ISG but equity research is very much front office. At a place like Fido, you will have a level of corp access superior to that of almost any place in the industry. You will meet and possibly develop relationships with CEOs of every company in your industry group. Not to mention you will have sell side brokers fellating you constantly.
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How would you rate this opportunity in comparison with a IBD summer internship at one of the major banks?
Ok. So given the description here, this sounds like a portfolio construction group. You're optimizing sharpe ratios, doing scenario analysis, out of sample tests, etc, trying to use statistical tools and factor models come up with the ideal portfolio. Your life may become the BARRA risk model. These are the portfolio and cross-product analytics quants, and you see them at places like MSCI, Barclays POINT, maybe some of Bloomberg's portfolio tools, and at a lot of hedge funds. Linear/convex optimization, stats, and programming are all necessary skills here.
This is a front office group. This job offers the best lifestyle of all of the front office roles- but it also probably has the most mediocre pay. If you are OK with earning $100K/year, there are worse places to work.
I'm neither of those. I'm a Strategist (a weird hybrid of programmer, statistician, and quant). I make good money; I am grateful for every dollar I earn, but I do not make amazing money. Most people who could get hired into portfolio construction groups could earn $80K (maybe more) at a tech firm doing a tad less, and most entry level hires who'd consider $100K at a portfolio construction group couldn't earn $200K elsewhere having their lives completely run by their jobs.
My view is that $100K/year is good money for most top 5% college graduates.
My view is that $100K/year in Boston is better money than $100K/year in NYC.
My view is that $100K for 45 hours/week in Boston is even better.
My view is that both jobs are worth giving serious consideration to. OP will have a moderately better career working 65 hours/week in equity research at Fido, but the decision has a lot of nuance to it. How much do you value your twenties, and how much do you value your career? My wisdom as a 28 year old having worked with people from both teams can't make this decision for you, other than to say it has a lot of nuance to it. If you want to work hard, and you want to have a great career, choose ER. If you value having a life, having a girlfriend, having friends, choose IS.
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