What's your ranking of buyside careers on a risk, stress, time adjusted basis?

Based on the most helpful WSO content, the ranking of buyside careers on a risk, stress, time adjusted basis can be as follows:

1. MFPE (Mega Fund Private Equity)

   • Stress/Effort: Known for a tough culture and long hours.
   • Risk: There's little risk of getting fired, but promotions can become competitive.
   • Earnings: Among the highest and most consistent, with a chance for carry.

2. MM HF (Middle Market Hedge Fund)

   • Stress/Effort: This role can be stressful, with long hours and a constant need to think about stocks.
   • Risk: There's a risk of losing your job or not receiving a bonus.
   • Earnings: Earnings can vary, but can be lucrative if the pod outperforms.

3. SM HF (Single Manager Hedge Fund)

   • Stress/Effort: This role involves performance-driven stress and unpredictable hours.
   • Risk: Job stability is linked to performance, and bonuses can vary.
   • Earnings: There's potential for large earnings with fund success, but it's less consistent than MFPE.

4. LO (Long Only)

   • Stress/Effort: This role is more relaxed, with a long-term outlook.
   • Risk: The job is steady due to the strategy.
   • Earnings: Earnings are consistent but usually not as high as HFs or MFPE.

5. UMM PE (Upper Middle Market Private Equity)

   • Stress/Effort: This role can be intense at times, especially during deals, but is more balanced than MFPE.
   • Risk: There's good job stability, but upward mobility can be challenging.
   • Earnings: This role sits between MM PE and MFPE, with carry at senior levels.

6. MM PE (Middle Market Private Equity)

   • Stress/Effort: This role is active during deals and requires demanding analysis and due diligence.
   • Risk: The position is stable, but progression can be tough.
   • Earnings: Earnings are solid, with carry potential as one advances.

7. PC (Private Credit)

   • Stress/Effort: This role fluctuates with deal stages and requires intense due diligence.
   • Risk: The job is generally stable but varies with the market and firm.
   • Earnings: Earnings are competitive but might not match PE highs.

Please note that these rankings can vary based on individual experiences and specific firms.

Sources: Q&A: HF out of undergrad, ~5 years later, Q&A: Buy-Side Analyst, What's it like?, Q&A: 15 years as IB ANL/ASO, HF ANL/PM, Start-up Corp Finance Executive