Equity Research vs. Investment Banking (both done at BB)
After having a couple of classmates who have gone into investment banking and equity research, I have heard a few anecdotal tales of what the work-life balance is like for both.
But since we’re all still in college, we don’t really have an idea of what to expect in terms of the long-term career.
I want to maximize my earnings, but obviously still have a life outside of work.
The idea of “making deals” in M&A seems pretty cool to me, but I am sure that even if I do make it into a good IBD offer, I will be over a decade away from actually having any tangible impact on company growth.
Equity Research also seems intriguing to me. I like the idea of concentrating on a sector, perusing through a selection of companies, and trying to select which one will have a positive future.
The truth is, all of my worrying for the future is useless because I myself have yet to score an internship. However, I’ve noticed among my class that the idea of maximizing earnings is a point of comparison and honor for many of my friends. I obviously want to be able to compete with them, even though both careers offer a very good compensation (the best in the world, probably for any job).
So, I was wondering if you could help me:
1. How much more of a work-life balance do ER analysts have over the course of a career compared to their IBD counters?
2. Is the better work-life balance in ER worth taking, considering the lower compensation compared to IBD?
3. How much can I make in either careers as an “average analyst” or a “average” banker at an elite BB in my: 20’s, 30’s, 40’s, and 50’s?
4. Life time earnings?
5. For PE and HF’s, which career has the best track record for exit opportunities and getting selected for an MBA?
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