Private equity analyst Vs BlackRock fund Analyst
Hey Guys I've had this on my mind for a while, I'm just about to finish uni, I am a final year undergrad at a London non target university; however I have two graduate offers; Fund analyst @ BlackRock and a offer as private equity analyst at a emerging and frontier market private equity start up...
What do you think guys...
I'm leaning towards the start up...
Whatre your long term goals? What do you want to get out of a job/your experiences? Which is in a location that you would enjoy more? What is the background of the leaders of the PE fund (are they solid, with backgrounds in PE)?
It depends largely on you, though for the record I would probably take the PE role, without a doubt, if all of the factors I listed came out in a way that made the comparison seem neutral or greater than with regards to the PE role.
I would say it largely depends on what division you're talking about within BlackRock. Does fund analyst equate to PMG?
Thnx for the comment guys..
@Seabird; My long term goal was always to get into PE... BlackRock is based in the Square mile (London) & the PE gig is in Mayfair so there isnt much of a difference coz I live in LDN..
The guy starting the PE has a gd track record and he's very much connected in emerging markets...
@Dark Star; No the role is with the Portfolio analytics Group...
My only reservation is BlackRock is big brand which would be gd for my CV..
Get 2 years of BlackRock on your resume and then run for the hills. Great look on your resume due to the size of the firm, but absolutely horrible dog crap culture
would you mind elaborating?
How small is the start up? Have they raised a fund? What is the experience level of the partners?
I will confirm that, from everything I have heard, Blackrock PAG is terrible, culturally speaking. Go to Glassdoor. The comments there are similar to what I have heard from others. Also, the PAG>PMG transition is rare; don't let them sell you on that.
These questions MUST be answered before you can get any real advice. My take is, fundraising still ain't no joke...so if the fund isn't raised or they don't have very assured capital sources then you are taking a big risk.
I interned at a 'start-up' MM PE when I was in college and all the partners were actually from another really well established MM PE firm and after a couple of the senior guys decided they were going to retire, the sub-senior level guys broke off into groups and spun out on their own. Even with a decade plus track record together, they were having a slow-go at raising a fund. Ultimately they got most of what they were looking for, but not all of it and it took longer to get there then they want.
Anyways, that strictly anecdotal, but I think most people will tell you that the fundraising environment isn't a walk in the park at this point and if they can't get enough money together for a fund, then there isn't going to firm to work at. I'm assuming they have some experience and wouldn't leave their last employer to strike out on their own without a good bit of confidence they could raise some money...but it is in your best interest to investigate just how likely that will be.
Regards
The culture? Take a look @glassdoor.com comments on blackrock and you'll see a good sampling of ppl talking about the bureaucracy there. I came from the legacy BGI world; the SF office scored around a 3.7 overall on glassdoor, compared to the BLK SF office of 2.8.
Absolutely no transparency in pay, promotion, ratings, etc. Also, the management model is laughable at best - 1 person managing 1 person managing 1 person managing 1 person. The Org chart looks like a laughing squid.
Think about how income is distributed. For each $1 the company makes, how many ppl need to get paid before you do? Looking at that model, a lot.
When I was at BGI, I reported into the head of global research. at BLK, I am about 3 people away from that person. This is after 3 years of being a top 10% performer.
I'm leaving this year though :)
Interesting. Any ideas on what it's like for your colleagues in Asia, particularly the HK office?
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