Hey all, I don't really post on here, but got a question for the more experienced folk on the forum. I've got around 5-6 YOE (2 in MFPE, ~4 in my HF seat). Knew I've wanted to do this job since forever, and love every day of it. Just a little bit bummed out about internal mobility within my firm. We're a very well known MM, and I have great relationships with the PMs + have produced good results consistently. We basically run off a "investment analyst -> senior analyst -> PM" or equivalent, and I'm currently in that middle part. Wondering 1) how do people make PM, and how long does it usually take, 2) given that comp is kind of plateauing (though at a nice level), if internal promotion is far away, should I consider trying to go to a tiger cub/SM and is it even possible to get to those seats from a MM, and 3) do I end up burning bridges if I leave to a competitor? I've been offered a nearly-identical role at a competing MM but with about 30-40% higher comp, but haven't notified my firm yet because ngl I've been insane this year and am expecting my biggest bonus ever. I realize I'm in an incredibly good place and I love basically every bit of it. Also definitely willing to help out anyone if they have questions about anything as my little way of giving back
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Hi Investment Analyst in HF - RelVal, the silence is deafening, sorry about that.... Any of the threads below helpful?
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I hope those threads give you a bit more insight.
Hey! Would be great to hear your advice on the transition from PE to HF. Currently at a MF PE doing RE acq and flirting with the ideal of doing something similar at a HF (Elliott, Baupost etc..) and wanted to hear your thoughts on this. Would be great if you can send me a DM since you’re anon. Thank you!
A lot of unknowns here, but I'll give it a shot. Are you a senior analyst with a risk allocation on your PM's book or are you just pitching?
If the latter, I would try to use your internal goodwill to push for a risk allocation and/or go to a competitor and get a sub-PM type role. If you're as good as you say, they'll at least consider it to stop you from leaving.
If the former, you should have a track record you can point to get a starter PM role pretty easily at a competitor (if not your own firm).
I don't think moving to a SM or tiger cub makes sense. It seems like the exact opposite of what you want (i.e. more upward mobility to manage risk). Honestly, even asking this makes me question if you know what you’re doing.
It takes people anywhere from 5 years (low end) to 10+ years (or never) to become PM.
Of course if you leave for a competitor you’ll be burning bridges. That’s the way the business works.
Best case scenario is you get a competing offer to manage risk as a sub-PM (under someone else) or as a standalone Jr. PM. Then you can leverage this offer to extract concessions from your current firm, should you choose to stay.
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