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The more significant equity research vs. investment banking differences relate to recruiting and careers , including points such as the compensation and exit opportunities. public markets roles ( hedge funds , assetmanagement , etc.), and areas like corporate finance or strategy at normal companies.
Unfortunately, it’s not quite that simple – due to massive competition, a fairly involved recruiting process, and low conversion rates at many banks. Expectations for technical skills and work experience are lower, but the process is more random than normal internship recruiting and depends on fit, grades, and activities.
But then recruiting moved up, the MBA process became more structured, and now we have 4-year-olds aiming for “Target Kindergartens” so they can eventually get into investment banking ~15 years in the future. A long time ago, the idea of a pre-MBA internship was odd because most people stayed in their full-time jobs until their MBAs began.
Almost nothing is worse than recruiting for investment banking internships , winning an offer, preparing , completing the internship, and then not getting a return offer. All the large investment banks – bulge brackets , elite boutiques , and middle-market firms – use internships as a recruiting tool for Analysts and Associates.
How to Recruit for Distressed Debt Hedge Funds The best background is restructuring investment banking because the skill set is directly relevant. Two relevant internships in 1L and 2L, such as at a restructuring boutique bank and a PE or credit-related one. A few of these funds specialize in distressed (e.g.,
Recruiting in Wealth Management vs. Investment Banking You should know all about IB recruiting from reading this site, but it’s insanely competitive and starts very early. By contrast, wealth management is much less competitive to get into. and your odds are not spectacular.
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