AM analyst vs IBD analyst internships


#1

Hi everyone

I am starting a master in finance in ESADE (#2 on FT) in september, Application period for 2015 summer internships are about to open for large banks and asset management companies, and as most banks only let you apply for one job position. I am dithering between asset management internships and IBD intern positions. ( In UK and Switzerland)

I prefer AM, especially for two reasons, the job is more interesting and apparently the lifestyle is slightly better.

I know this sector is tremendous competitive to get in. Do you think is more difficult to get an internship for AM rather than for IBD? I think so, as I presume there are more spots for IBD, and also because most alumni in ESADE (the Business School I am attending) found jobs/internships in IBD and not in AM.

Thank you,


#2

Hi there,

You’re right in saying the work/ life balance in AM is usually better than IB. Because of this the pay/ bonus is usually more in IB on average. There are more roles available in IB, although this is slowly changing over time and AM is getting more popular.

The roles are very different and usually suited to quite different personality types. I would research well in to both to see what you prefer.
The main difference is that AM guys are on the buy side, and IB on the sell side (i.e. Investment bankers sell financial products, and asset managers buy them and manage them for their clients). So they can be on opposite ends of the same transaction. As a generalisation: asset management plays towards more analytical skills and IB is more sales related.

I hope this helps!