How do deal with erractic PM?
My PM is the "problems are yours, and success is his" kind of person day in and day out. If we have good news and don't make as much 2-3x the $$ we made because he over hedged despite me bugging him every day for a month to not do so with a strong, developed variant view, it's my problem for not pounding the table. If we lose on a trade I recommended never getting involved in the first place or reducing a position in, it's my problem for not doing the right analysis despite me consistently objecting to my PM's decision to put on a trade. If we make money, it's his hindsight / thoughts that helped more than my analysis. Little appreciation, and lots of criticism. It's my first HF seat but I have worked long enough in the industry to take the unnecessary rants in through one ear and out through the other although it certainly reduces the motivation and dampens the mood so I can't help but wonder if the majority of the PMs are this way or is mine just a special case.
Leave to work for someone better. It's not an uncommon personality type in this biz and people like that never change.
Generally, I like my PM but I still get more or less the same treatment pretty regularly. I think it's human nature and the types of personalities that succeed in this business. I'd weigh the mentorship/learning experience (if any) you're getting along with comp against your PM's personality. When that equation becomes significantly imbalanced, you know it's time to leave.
Leave. It's not worth it.
Welcome to the thunder dome!
Fuck him. These guys never change. Holding out hope that he won’t be a dick when bonus season comes isn’t worth it. The R/R just isn’t there. Sorry man
OP taking this advice literally:
Sucks man. not sure how common it is but those type of people definitely exist and i haven't seen someone with that attitude towards his team ever change in a real way...
I think every PM is like this in some ways, and every analyst also plays revisionist history/has selective memory. That being said i would find something else and diligence the PM working style with former team members next time
Definitely look elsewhere. No doubt there are a lot of people like that in this business, but there are also a lot who aren’t. He’s not going to change and it’s not worth the stress.
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