Comparing Endowments: Factors to Consider
I am considering transitioning to an endowment (goal is to stay in the E&F space for the rest of my career), and have two investment management companies which I am very far along the process in. If I am fortunate enough to have the ability to choose, what are some of the factors I should consider?
Factors Currently Being Considered:
Learning Experience / Intellectual Stimulation
Scalability of Responsibles / Ability for Internal Growth
People / Culture
Location
Pay is very low on my priority list since both endowments' pay is commercial given the hours and high positive impact (~100k+ for analysts, ~200k+ for associates)
Background
<1yr of IB at CVP/LAZ/EVR/GS/MS/JPM
Very passionate about LP / capital allocator space and love the mission of endowments
Summary of Firms
Endowment A is $10b+ fund with 15+ investment professionals. Offer is generalist.
Endowment B is $2b+ fund with 5 investment professionals. Offer would be for private assets.
Hey hyptquhtvmvnhwfevv, I'm the WSO Monkey Bot...do any of these help:
More suggestions...
Fingers crossed that one of those helps you.
Congrats on UVIMCO and Georgetown…
It's much better than the thoughtless process banking which IB currently is. I much prefer working for a firm which creates values for thousands of students as a capital allocator.
My bad dude. Wasn't trying to throw any shade with my guesses. Those are 2 great endowments!
And completely agree w you on working for a mission-driven entity!
Maybe factor in the endowment strategy. Within PE what is their main strategy? Small Cap? Middle Market? Ect. Does it fit with your interests.
Each endowment will change deployment allocation yearly if need be.
Ignore title, transitioned to an E&F role this year. Early on in your career, I think generalist roles are pretty attractive just to get exposure to more asset classes before siloing yourself into one. Like any job, also think about the location cause you'll be there for the next couple of years as well as the people you'll be working with. Because E&Fs generally don't have too structured of a training program, you want to make sure the team members take mentorship pretty seriously.
Consider the strength of the CIO/senior team -- how strong is input from the committee? Are any of the asset classes in rebuild mode? How tactical are they as it relates to coinvest? The fun part of the job is making new commitments and meeting with lots of new firms (imho), so I'd suggest thinking through your interview experience and what the work might look like over the next few years. Happy to chat if helpful.
Totally unrelated. Just got a gig at a E&F adjacent role (think pension fund, alternative investing)...
Can I PM you some small questions about the E&F industry? I just want a little guidance so as to be the best analyst out there.
Cheers
Please do.
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