Guys, I need some help please! Senior out of undergrad, just finished full time recruitment
Goal: Becoming a PM at an asset manager / going to a HF. Would like to be in public side on equities
Offer 1: Prestigious long-only AM .Top 5 in terms of AUM. Located in NYC. Will be on equities Cons: Low pay. Expected all-in range from worst to best case (65K - 95K) Pros: well-known, lots of exit opps in AM
Offer 2: unranked, sellside ER at an investment bank in NYC Cons: Ultimately I want to be on buyside. this bank is struggling a lot. Dont know if I'll have good exit opps to large AM/HF Pros: Pay is ok. worst to base case is (80k - 110k). i like the people
Offer 3: Small 30 person mezz fund, not in NYC, brand name in certain circles Cons: I want to be in NYC to build up/maintain my network. It is basically private debt, transaction oriented and exit opps are to stay there or credit funds Pros: Lots of responsibility, great pay, worst to best case (105K - 140K)
The way I see it. Offer 1 ~= Offer 3 > Offer 2. Should I pursue my interests in equities even if it means low pay for a couple years? Or start at the mezz fund, earn a lot, and take my chances to get back to equities? Should I even consider Offer 2 if I have offer 1?
80K and you think pay is "ok". You're kidding me? Is offer 2 Nomura? Where is offer 3?
Relative to the other 2 dude. Of course on an absolute lvl, 80k is amazing. It is not nomura. Offer 3 is half way btwn nyc and greenwich
offer 1
.
mezz funds can be interesting, and from a macro standpoint will likely perform well over the next couple years but the skillset is PE but caring more about the capital structure and less about growth opportunities, about as far from public equities you can get.
Take into account whether there is a growth path for undergrad hires at the AM, has anyone been promoted to Analyst out of your program, or did they all lateral/bschool after 2-3 years?
The other thing is, why do you like public equities so much? If you have given any thought at all to public high-yield or cross-capital structure stuff as opposed to long-short equity, mezz will set you up well for that
65 to 95k is standard out of college.
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