BB IBD or hedge fund?

Hey guys - I've been at a BB IBD firm in SF after graduating from a target for about 6 months now. I hate it - I'm in a products group (think restructuring, debt, etc. and not industry coverage) and it's absolutely boring. I just got an offer from Point72 to join their investing group. Front office, same salary (but bigger bonus upside of course). What do I do?

BB IBD is obviously more "prestigious"...in the sense that everyone has heard of it. Con is that hours are terrible, the work I do is pretty meaningless, and I am NOT in an industry group so I am not getting recruited by PE / HF besides this. I would have to work here for 2 years, do internal mobility, and then get the OPPORTUNITY to apply to buy side roles.

HF has reputation issues, obviously, but the fund is still fantastic. My PM is great - I got the job because I networked hard with him. It is not as "prestigious" I suppose, but I don't care so much about that. I am very interested in investing, so I am hoping the work is a little better. Hours will not be GREAT but will be an improvement from what I do now.

Ultimately, long term goal is to go to b-school in a few years. 3-5 years from now I want to be at an MBA program and then start my own thing, whether that's a fund or a company. Right now I just want to learn as much as I can - about companies, finance, etc.

What do I do? Help!

 

take the HF offer, you can always go back to ibd if things don't work out...

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Thanks guys. Yea makes sense...

I was just wondering if the name was gonna stop me from moving around should I choose to do so. I am aware that other opportunities will arise 12 - 18 months from now - the issue is that will they be as good of funds? I'll get the OPPORTUNITY to apply to other funds - but will I get the jobs / will they be as good of funds? That's a separate question...additionally, I just hate the IBD job I have now. I dunno.

 
Best Response

Seems like an easy decision to me:

Pros:

-You are miserable and do not want to be in your current role one day longer -The new offer is in a more desirable industry with higher pay and more interesting work -You would have to endure 1.5 more years of misery in the prime of your life for a similar offer -Your new offer provides you with a better lifestyle -Your new offer is more in line with your long-term career goals

Cons:

-19 year olds on this site will tell you to stick it out for 'Prestige" and "Exit Ops"

 

I understand that. Would you also say that most would take the oppurtinity at a hedge fund over a MM IB?

Reason I ask this is because a relative of mine current works at a top hedge fund has relayed that there may be possible openings in Jan. Having signed with a mm firm already, I am trying to gauge if I should pursue th HF opportunity and which would be generally more advantageous in the future.

 

Depends on the MM IB, depends on the fund, and depends on the role in the fund. If you can work at a top hedge fund it's probably not worth passing up, but you need to make sure you'll be learning the skills you need to make investment decisions, not just doing ops work or what have you AND you like the strategy of the fund.

PM me if you want to talk more about it.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

need more information on the HF/the role to give an opinion...

personally i would go to a large well known HF right out of undergrad if you were going to be working with analysts to learn fundamental analysis etc. i wouldnt go to a smaller lesser known HF or go straight in as a TA

 

How is the TA position regarded typically? I have an opportunity work directly under one of the partners. This is a fund that is mostly the partners money.

"Oh - the ladies ever tell you that you look like a fucking optical illusion?"

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

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