Graduate Program in Tier1 platform or directly start at a Tier2 platform
Hi monkeys,
Lucky enough to receive offers for a graduate equity analyst at a Tier1 platform (MLP, Citadel, P72) and an equity analyst at a Tier2/3 (Dymon, BAM, Jain, etc) platform.
But the tier 1 offer involves a long general training period without the guarantee that I will be assigned to a pod which I am interested in / has a successful track record. Tier2 offer is with a successful PM with a sector focus that I am ok with, and I can start straight away.
Let me know your thoughts! Appreciate any feedbacks.
who you work for early on matters more than where you work
Agreed. In trading, skill > brand. And I say that having been lucky enough to be at a 'Tier 1' and other shops. Hierarchy of brand matters way less than I thought it did as a student, and who you learn from is key.
brands matter at SMs, LOs, banks and real firms. at pods, your PM is the brand for those in the know,
100% agreed with what you said. My question is more about the assigning process after the training period I guess. I assume the average quality of the PMs in the tier1 platform is higher than tier2/3 (the PM at the tier2/3 platform I received offer with is not super highly regarded I think, but can deliver relatively consistent returns at that platform), so if the tier1 platform will assign their graduate analyst to the established pods then I think I should go with that but if randomly assign to a random pod then I will go with the tier2/3 offer.
BAM is not Tier 2, Tier 1 - if your PM offer is from there, would take. From my friend, CAP does well placing you with someone you want, but have to do a lot of calls/pitches. P72 similar but don't know firsthand
As everyone says really depends on PM > BRAND
I'm risk-averse as a background.
so with no guaranteed seat, if you happen to come across an awful period, large DD period which could freeze hiring across 80% pods, you run the risks of sitting out longer than 6 months, which imo is far from "not ideal" for someone new into the industry. I'd much rather start in Dymon/BAM then hop to C/M/P in couple years.
If L/S equity would not group Dymon with the rest. Most teams are just traders with limited fundamental equity process
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