HF vs IB
I've become interested in finance recently and would love to work somewhere where I get to make my own decisions with allocated capital, I don't really care where the capital is from. (i.e. trading)
What would you guys say is better, Investment Banking or Hedge Funds? I really don't wanna spend my first few years being an Excel, PowerPoint monkey.
I am also considering the fact that Hedge Funds have a more relaxed atmosphere and can be more enjoyable in terms of WL balance.
Thanks.
You generally need to work in IB before working at a hedge fund so the point is moot. A few MMs do summers and grad schemes, namely p72/citadel/millennium/de Shaw etc but these are harder to get than IBD summers imo
HF hours are typically less than IB but you have no job security.
There are a lot of funds with over 1B AUM looking for interns, but they don't advertise these positions so networking is key. Also, the chance of a return offer is low unless you seriously impress people and prove you don't need your hand held. Therefore, its more risky than IB where you have to be caught smoking crack to not get a return. It's also generally easier to break in with a quantitative background. For L/S equity, an IB background is kind of necessary.
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