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!
If you hate one job and like another, it's pretty much a no-brainer....
take the HF offer, you can always go back to ibd if things don't work out...
Point72
fwiw if you stick it out at the BB you will have plenty of recruiting opportunities in 6-18 months for opportunities that are less tainted/risky than point72.
....is this a real question? Nobody worth anything is going to ding you because Point72 seems seedy or whatever. Easily the better opportunity. Go there
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.
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"
Point 72 is a great name - the issues stevie cohen had have absolutely nothing to do with you. People recognize the brand and it's "tainted" from a business ethics standpoint but everyone recognizes SAC built an incredibly talented team.
Go there.
Do what you want, but Point 72 is absolutely not a "bad name".
Take the job at Point72 and don't look back.
Thanks, guys.
IBD VS HF (Originally Posted: 09/09/2015)
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Why would you want to do IB over HF?
Call me crazy, but I absolutely enjoy the process of M&A, and seeing industries change as a result. I've have Corporate Development (M&A) experience on a small scale, and IB is something I would love to experience.
work in a hedge fund and realize that its much more fun and better in any regards then IB and then you wont even think about IB anymore
Noob: HF vs IB (Originally Posted: 11/17/2010)
I searched the forums but did not find a suitable link.
Im fairly new to the HF world so forgive me for such amateur questions.
What are the major roles within a HF, or rather what role most here are vying for in a HF? Are most analysts within research / covering companies?
What is the pay like at a top HF as an alayst and what are the possible exit opportunities vs IB?
Thank You
Odds of being an analyst at a good HF before going through a banking program are low.
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.
Hedge fund or i-bank !?! (Originally Posted: 07/13/2008)
Is it smart for a senior in a Big Three school to go to an HF directly after undergrad? Or should I go to a Bulge Bracket Investment banking division? How do the two compare? Is it true you will be a trading assistant in an HF? Which do you suggest?
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
Also depends on what you want to do long term. I agree with the above and would choose a well known HF like D.E. Shaw or Citadel over a BB.
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?"
From my experience the TA position is regarded well but it is more of an trade execution job than an actual investment analysis job. If you are working under one of the partners you would probably still learn a lot though, and connecting titles with what people actually do varies between funds.
www.sharpeinvesting.com
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