Path from ER to SM
I have the option of working at a decently sized (~2bn AUM) SM HF or going to BB ER (top 3 firm, unclear about the analyst I'd be under though). From what I've read on WSO so far, I should jump on the SM opp since that's my long term goal. My hesitation though is that the SM only has ~10 investment professionals who seem somewhat stable and the PM is pretty old. Unsure about when he'd retire, but seems like I'd be taking a lot of risk by going there since they don't really care about whether or not I have career prospects if they either close shop or just fire me.
HF is a risk taking profession anyways - might as well get used to taking risks. There is no right answer here.
Stable and old PM sound like an okay set up to me. You need to manage your own career on Wall Street anyways.
Starting off on the buy side out of undergrad is very rare. It depends what BB you are going to. JPM and MS have top ER teams, GS ER isn't as highly ranked, analysts come and go through the revolving door and few analysts there have been there long enough to have established coverage.
I would say look at the exits that previous employees at your firm had. You always have the option of doing BB ER afterwards.
Very rare in a good or bad way? The previous employees who left after a year or two all ended up random small firms I've never heard of and can't find much online about. I would love to work at a SM but I'm just worried about that risk right out of undergrad
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