Carve at MM or X-over fund
Background: I'm aanalyst currently at a $2.5B fund (joined out of college). 6.5 yrs buyside experience. Started recruiting after another disappointing comp year and debating between 2 offers.
The first is to run a carve of $300M at a MM (, p72, mill) that would scale over time. PM was promoted internally. The second offer is at a crossover fund with $3B in AUM and I'd spend my time 50 public/50 private.
I think the crossover fund is a more interesting role since I'll add private investing to my skillset, I think it has more stability (although who knows), and better culture. However the offer is $4-500k all in which is basically what I make now.
The MM is obviously less stable and there's a high chance I'm recruiting in 2 years. But they are guaranteeing $900k all-in for this year with upside.
I know the forum is pretty biased against MMs in general, but how would you rank these opps (or would you stay put)?