I’m currently still looking for my first internship (wasn’t very successful with BBs so now trying other options) as a sophomore and I’m wondering if that’s still the best choice since my ultimate goal right now is to become a portfolio manager in the next 10 years or so. I’ve heard a few years in IB/PE is the way to go but now I’ve also heard conflicting things about this and idk if I want to spend so many years doing a job I know I’ll hate. Are there other options?
There are a few options to become a PM, one of them is what you’re working towards right now. I would say that 10 year is on the very short end of the time frame so just keep in mind that it takes most people longer than that.
In terms of the IB/PE path, it is very common and the few years in IB will set you up nicely for dealmaking experience in PE. You learn about finance, markets, business operations, Excel, etc. You may also want to look into getting a CFA during your time in PE.
You could also take the trading path and it’s quite common too. People who start off on a trading desk can often become PMs, especially at hedge funds. Finally, you could also think about equity research at a bank. but this role is quite different as it entails a lot more writing and less execution experience. It’s also more back office and you’ll have less face time with senior management.