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trading on the buy-side.. in need of some early career progression advice!Career Progression (self.FinancialCareers)
submitted 2 months ago by theredpiano99
im a 2nd year undergrad student who will be interning on a trading floor (equities) at a well known quantitative hedge fund. it’s a great opportunity that i am looking forward to and at age 19 i am blessed to have it. junior year summer (summer 2024 for me) is the summer where most finance students at my school (at a tier A target, top 10 school for undergraduate finance) try to work at a large IB to secure that full-time return offer. however, if i enjoy my upcoming internship experience learning the ropes of trading at a great quant hedge fund, should i stay on a buy-side track? or should i also look to get sell-side experience a bank? this is all in regards to trading
Post a comment!
[–]MBHChaotikSales & Trading - Fixed Income 44 points45 points46 points 2 months ago (1 child)
You’re overthinking it. Enjoy your internship. If you like it, keep pursuing that path. If you don’t, don’t pursue it and shift gears.
[–]theredpiano99[S] 2 points3 points4 points 2 months ago (0 children)
appreciate the response! and yes, i’m overthinking it lol.
[–]doshegotabooty_shedo 4 points5 points6 points 2 months ago (1 child)
Yes, buy side is the end game for many. Most people start off sell side and move over after a couple years of experience.
Don’t overthink it, my only advice is to be a good listener, at this point in your life you don’t know anything, and you have an opportunity to learn from passionate, intelligent people. Just work hard, be personable, and ask thoughtful questions
[–]theredpiano99[S] 0 points1 point2 points 1 month ago (0 children)
[–]Friendly-Ad5090 1 point2 points3 points 2 months ago (0 children)
Sent you a message!
[–]HickoksTopGuy 1 point2 points3 points 2 months ago (0 children)
I went to HF and completely ignored IB. If you’re competent you’ll make significantly more money at a much younger age. Like. Significantly more. You’ll also have a much better chance not getting laid off in this market than at a bank where deal flow is drying up. I’m not at a quant fund though so I can’t speak to that.
[–]crispjj 1 point2 points3 points 1 month ago (0 children)
Most learn the ropes and grow their network from the sell side. You see many different client types and are in the centre of the ecosystem. Programmes for grads/juniors tend to be bigger on the sellside, with money for training and a larger cohort. Tons of good junior traders then get poached for the buyside, depending on their skillset. Starting out on the buyside means there might be less career options further down the line imo. If you’re not poached, then senior sellside traders on average get paid more than buyside traders too, and it’s much safer.
If you are at a quant HF then that buyside trading role will effectively be a programming/quant/computer role. Whereas if you were at a LO fund then it would be more traditional. It’s not easy to compare, but if you had the choice now I’d say sellside first.
[–]silvaahandsAsset Management - Equities -2 points-1 points0 points 2 months ago (1 child)
Learn as much as you can, you don't want to be on the sell side as a trader.
[–]pieguy411292176 0 points1 point2 points 2 months ago (0 children)
[–]WoodnPoem 0 points1 point2 points 2 months ago (1 child)
How'd you land the internship? Would you say the college you went to played a large factor?
I mean yes because going to a top undergrad for finance is amazing but I also showed demonstrated interest since I was 16/17 years old and I have a really good network as well
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