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How do you define best? PNL consistency? Sleeve economics? PM invested in Analyst / Associate development?
As you correctly pointed out, all those factors matter, of course. Would say:
1) stability of the seat / probably a function of PNL consistency
2) economics / sleeve economics
3) training / time for juniors
4) WLB
Good luck, European PMs can be a handful ime
I'm only an A2 in IB, but heard from friends at HFs that there is a very large pod at MLP in London. Senior PM and 10+ sub-PMs, consistently performed well, industrials focus I believe.
That’s less of a pod and more of an entire business unit, the way MLP is ran
No he's correct and referring to a specific large pod run by RC who has alot of sub PMs running discrete sleeves across sectors. Leverages diversification to scale + generous pass through terms.
Yah im aware of Rahul, I know one of his sub PM’s that just left which led to the analyst being in limbo for a little while.
As an analyst joining out of PE/IB my understanding is that you’re still *very* tied to the sub pm you’re working for.
don’t work at MLP
Correct. You'll get budget + discretion to pick your own team. Risk is there but that's true for all multi-managers more or less. If you're good and sub PM leaves you may get picked up by someone else.
Right but that’s kind of what I was inferring in my original comment. You can view the senior PM and his PMs as an entire pod, and you may well be shifted across PMs within that pod, but generally as a junior going in it’s better to view the sub PM you’re joining as the head of your pod. Given your experience and job security is largely impacted by them
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