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Thinking about making the switch to a MM. Are they all essentially the same? If not, what differentiates them?

Also, are the top MMs just P72, BAM, Citadel, Millennium, and DE Shaw, or am I missing something.

 
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For future analysts you guys sure suck at finding this information. The other posts are not outdated, and if you can’t differentiate what factors really matter you are prob not ready for the job. Sorry if I sound like a dick, but anyways here it goes:

Rarely will anyone be in a position where they are weighing multiple offers from top SMs and MMs and need this forum to be a deciding factor for the choice. First- What is most important is determining what type of investment process and style you want to do/ what you will excel at. MMs and SMs are quite different, and it’s up to you to decide what future business model and investment style and philosophy you want to pursue (this has been well debated on WSO before and is not outdated).

MMs- firms doesn’t matter across the well scaled ones. Your PM will dictate the culture, room for growth, compensation, etc. Don’t pick a newbie PM with a questionable/ zero track record at citadel over a well scaled rockstar performer at another fund. Some funds have better reputation for the quality of PMs, so maybe some “ranking” here can happen but refer to the first point over all else.

SMs- almost every well scaled fund with a long track record and +2bn in AUM is a good seat- no, an amazing seat. What is more important is if you mesh well with the team and the fund’s sector/style/process.

Debating coatue vs tiger global vs baupost vs Pershing square vs third point vs etc. is so silly. You will almost never ever be in a position of weighing offers between them, and the deciding factor will not be some obscure ranking of prestige between them all on this forum. What kind of investing do you want to do? Long tech disrupters? Crossovers? Value? Activist? Primarily LO? Etc.

A better comparison would be, what is a better place to pursue levered long tech investing these days- where should I focus on networking if I like to do xyz? 

 

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