Advice - Interned at a large hedge fund
Hey guys so a little back up, background in M&A at a BB, been interning at a large hedge fund (think Citadel/Fortress/Eton Park) these months.
No clue on how likely the chance of me receiving an offer is for FT, however I have been contacted by a smaller Long/Short hedge fund - around $2bn - which started 2 years ago, guys managing it spun out of a BB and quite a few of the PMs who joined came from other top funds... but the fund, as I said, is still starting off. Backed by a couple of very large institutions.
Would you guys risk staying at the larger HF and potentially not receiving FT, or make the move to the smaller HF with a much higher chance of receiving it (yet a higher risk of the fund going under in a few years)?
Don't want to give away too many details, would be too easy to find me otherwise but any advice appreciated.
When would you get a FT offer? If it's just a few weeks, I imagine you could setup meetings with the start-up fund to see if it would actually be a good fit for you. That could eat up time until you hear back.
Within the next 6 weeks, already have. Will be hearing back next week...
@Will Hunting, this is the feeling I had. Higher upside at the smaller fund, but more security at the larger one for obvious reasons + brand name... I think I'm gonna swing with the smaller fund though.
@Vagabond85 I think you might've hit the nail here... But I'm not a chooser yet, so I can only stand with my current options. Long-term yes, I'd prefer to stay in macro.
Interesting. I would say talk about it with your boss at your current fund. The worst that happens is they don't give you an offer and you go to the other fund. The best that can happen is they like you and don't want you to leave, hence, giving you the FT offer at the larger fund.
I also think that the smaller fund is a great opportunity despite it being new. I know of a few funds that were new a few years ago and have been killing it for 5-6 years and are now considered solid places and generally pay very well. You also have to consider the chance for upward mobility.
Becoming a PM at the smaller place is probably easier and less structured. The NPV of that is probably higher than working as an analyst for 5-6 years before your 1st promotion at the larger fund.
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