Prestigious Hedge Fund Operations vs. Bulge Bracket I-Bank Analyst
I'm an undergrad choosing between an offer from a prestigious hedge fund operations position and bulge bracket analyst role. The offer compensation is roughly the same, but what about future opportunities? I know for a bulge bracket ibank I have a clear career path leading to MBA to associate and above. But what about the hedge fund? The company is notoriously hard to get into, but how hard is it to move up from operations back office to higher positions?
Thanks a lot for your help. If you can provide more detailed answers given the company's names, send me an email at dcheva19@yahoo.com. Thanks again for your time.
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Frankly
I think it's easy enough to answer even without the company names. Moving from ops to the front office is very, very difficult. It is a high-risk proposition to start in ops, with plans to move into the front office later.
Even if this is the best hedge fund in the world, I'll tell you to take the BB.
Agree with above poster,
Agree with above poster, take the BB analyst position anyday.
The only thing I'd take the Hedge Fund Ops position over is a BB Ops position. Of course if you want to do 9-6 everyday and has all your weekends free, then definitely do ops.
If you're talking about ops
If you're talking about ops at a DE Shaw style elite hedge fund, you can forget about ever being allowed to touch any front-office work and move into the front-office. They are extremely selective of who they hire for the front-office, so if you're not in consideration for a front-office position now, you won't ever be, no offence.
Summer
Thanks for all your comments. I forgot to mention one thing, this is for a summer position. For the hedge fund, while it is classified under finance and operations, is my role as deep set as a job offer? From what I was told (though it might be biased) is that I get to work on a variety of different things in the summer. So perhaps my role isn't as set until after summer? Also, the pay at this hedge fund operations is actually higher than the 2 bulge bracket ibank firms I got. Is this indicative of future salary, or will the difference show up when it comes to bonuses? Thanks!
operations people at the
operations people at the fund probably won't get much bonus. At the bank your bonus could more than double your take-home pay.
BB
take the bb analyst job...back office to front office is tough
If you're talking about
If you're talking about SAC's operations position, which I suspect. I don't think they recruit for the front office. In general, Ask them about their previous interns. How many came back full time. How easy is it to move to a FO position (is it possible)? Do people go to business schools? Where do they get in? Etc.
Be aware
Even if the fund says it's easy to move from BO to FO, they may be lying to you.