Mudit was one of the better analysts that I've come across. The kid was a modeling whiz, had an uncanny attention to detail, and an incredible problem solving ability. He was quiet, polite, and presented well to senior bankers and industry executives. Mudit had no intentions to go into private equity or business school after his 2 years were up and, instead, hoped to stay on-board and be promoted to Associate.
You have somehow managed to survive your first full year within one of Goldman Sachs ' most elite units, Healthcare Mergers & Acquisitions. You received your largest paycheck ever, you now have new pledges to do some of your dirty work, and you managed to get off work around 9pm, eat a meal that hasn't come from SeamlessWeb, and finally explore what New York City has to offer. Being the overly ambitious individual that you are, you have begun to wonder, "what's next?" On a slow Monday morning, you receive a phone call from a headhunter who has plucked your info from LinkedIn using their "premium account". Congratulations! You been selected to participate in a research associate recruiting event at a top hedge fund. You think to yourself, "Life can't get any better right now!
In Vanity Fair's latest expose on Goldman Sachs, Lloyd Blankfein cites Goldman's "culture" as the compass that allowed the firm to navigate the financial storm of 2008. At...
"Which associate career should I pursue: Private Equity or Hedge Fund?" Second-year investment banking analysts who are just entering the associate recruiting cycle consistently pose this question to me. Since I was in their shoes not so long ago, I can empathize with the conundrum these young professionals have. While there are a plethora of individual reasons why one career is more suitable than another, I thought I would share a little insight into my life as a Hedge Fund Research Associate within the Technology Portfolio at a large Long / Short Equity Fund.