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Hi guys- I have been following the site since the fall, but wanted to wait to post a thread until I actually got offers. Quick background- I am from a non-target, but strong LAC school. I am studying abroad in Italy for 3 months starting in mid-February until May. I have two offers so far, one from a top HF (similar to Moore, Tudor, etc) and one from a solid MM IB (since I leave for abroad before their super day they allowed me to do an accelerated interview process). I am also interviewing at other similar MM’s (like Jefferies, Cowen, Stifel) whose superdays, IF I get invited back, would be right before I leave. I was wondering what you guys thought would be the better option for SA. Obviously interning at the HF would look great on a resume, but I am almost 100% sure I will not get a full time offer if I intern there. Especially considering I am from a non-target, would it be safer/wiser to take the IB offer that would possibly translate into a full time offer? Thanks in advance, and please go easy on me as I’m new to all of this.

Comments (12)

  • Sandhurst's picture

    Do you want to work at a hedge fund full-time? Or, do you want to work in investment banking? This should be enough to answer your question.

    "There are three ways to make a living in this business: be first, be smarter, or cheat."

  • In reply to Sandhurst
    Newspeak's picture

    Sandhurst wrote:
    Do you want to work at a hedge fund full-time? Or, do you want to work in investment banking? This should be enough to answer your question.

    He said that the hedge fund prob won't give a return offer though.

  • oliver13's picture

    The HF - not even comparable. If it's something like Tudor, Moore, I'd take it over Goldman.

  • amann219's picture

    Thanks for the input guys. I would ultimately like to work in either PE or HF. I would be completely fine with doing two or three years in IB first, and then hope to move over. I think the issue, and question I have, is whether it'd be worth to intern at the HF knowing that I won't get a full-time offer, and then having to go through the full-time IB recruiting process from a non-target school, which will be difficult.

  • idragmazda's picture

    Be realistic - given that you have a non-target background, and the fact that the HF will not give you a return offer, you may be better off doing the IB gig, killing it, landing a return offer, and then weighing your options from there.

    Internships don't guarantee a second look during full time recruiting (if you're doing resume drops, etc.), especially considering that most people get their gigs through networking.

    Personally, I feel that as a non-target, you need to be a little more risk-averse compared with your target competitors; you're really in a tougher situation than they are. I'm not saying you can't do it, or that it can't be done, but as you said, it's going to be much harder.

    Super Nintendo, Sega Genesis - when I was dead broke man I couldn't picture this

  • streetwannabe's picture

    Agree with other posters. Take MM IB, that's a good platform for going to HF or PE in future; esp since HF isn't giving FT offers.

    "History doesn't repeat itself, but it does rhyme."

  • In reply to Newspeak
    Sandhurst's picture

    Newspeak wrote:
    Sandhurst wrote:
    Do you want to work at a hedge fund full-time? Or, do you want to work in investment banking? This should be enough to answer your question.

    He said that the hedge fund prob won't give a return offer though.

    I saw that.

    I believe strongly that, in the long run, if you follow your interests things will pan out. If you want to run money, why not learn more about running money? I can sympathize with getting a job being a huge concern - it is - but at a certain point you have to jump at an opportunity to follow a passion. You can't control when those opportunities presents themselves.

    "There are three ways to make a living in this business: be first, be smarter, or cheat."

  • In reply to Sandhurst
    SirTradesaLot's picture

    Sandhurst wrote:
    I believe strongly that, in the long run, if you follow your interests things will pan out. If you want to run money, why not learn more about running money? I can sympathize with getting a job being a huge concern - it is - but at a certain point you have to jump at an opportunity to follow a passion. You can't control when those opportunities presents themselves.

    This.

    adapt or die wrote:
    What would P.T. Barnum say about you?

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  • slowdive's picture

    The HF internship has a very different risk and payoff profile. It is the bolder choice, but I would take it in a heartbeat. Even if there is no offer at the end, if you work your ass off, there will be guys there who will want to help you. It really comes down to what you are shooting for.

  • In reply to slowdive
    oliver13's picture

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  • amann219's picture
  • In reply to amann219
    Sandhurst's picture

    "There are three ways to make a living in this business: be first, be smarter, or cheat."