Can you move from Pods to SM's?


Will SM's or activist funds look at analysts working in pod shops?

I'm in PE, previously was in IB, and would like to work at an activist or single manager. I haven't found many of those funds recruiting, while pod shops reach out constantly. My thinking was that getting into public markets at all is smart and then later transition. Some colleagues / mentors have suggested the work is so different that the places I would like to work wouldn't consider analysts from pod shops. 

Is that hyperbole or is that accurate? The line of reasoning was that taking a view on earnings versus consensus every quarter is fundamentally different to picking stocks that are under or overvalued

Curious on perspectives here. My current view is that I'd learn a lot at a pod shop but I don't think it's what I want to do long-term so if it's not something that could lead to areas I'm interested in then I don't think it's worth going through interviews.


You need to do more research.

Do not make a move into activist/net long single managers if you are unsure if pod workflow is materially different; you do not know enough about either career to make a move from PE yet. 

I would also look into LOs.


For the avoidance of doubt I am aware of the differences, hence having a preference.

The majority of HF analysts have come from IB and then PE, knowing they want to do neither long-term, so generic advice about "don't do something you're not committed to" isn't particularly helpful.

There are far more Pod openings than LO / SM / Activist so my question is: would getting into publics sooner be better, even if in a pod, or is it better to stay in PE or IB longer and wait for an opening.


This is a pretty draconian view and definitely not the case today. Have seen the good pod analysts go from pod —> big tiger cub and back to pod after realizing pods are better lol.

I promise you if you’re talented no one will ever hold your background against you. If they do, ask yourself if you want to work for them. In fact, I have tiger cub friends who actually prefer to hire pod analysts over PE or IB people…there’s your data point.


Veritatis repellat suscipit ullam minima. Nemo et ea dolorum itaque. At est quam sequi praesentium numquam sit assumenda. Voluptates quia ut quasi laboriosam soluta.

Asperiores voluptas enim molestiae consequatur. Nemo tempore incidunt id nihil aliquam quia. Qui libero porro at ducimus. Quia atque incidunt occaecati rerum. Delectus et hic ipsum veniam.

Aliquam sed doloribus id sit eligendi ad dolorem. Voluptate at velit molestiae sed. In rerum molestias ea fugit cum sapiente.

Career Advancement Opportunities

February 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

February 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

February 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

February 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (70) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (222) $178
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (247) $85
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”


redever's picture
Betsy Massar's picture
Betsy Massar
BankonBanking's picture
Secyh62's picture
dosk17's picture
GameTheory's picture
CompBanker's picture
kanon's picture
bolo up's picture
bolo up
numi's picture
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”