Is the person who enters a HF out of 1-2 years in banking “ahead of the game”?
If you do 2 years banking and 2 years PE (and 2 years MBA) before breaking into a hedge fund, are you technically junior to the ~24-25 year old who broke into the fund right after banking that has already been there for a year or do hedge funds give you some seniority for having those 2 years of PE (and MBA) under your belt?
In other words, are you “ahead of the game” if you skip PE and are able to go directly to a hedge fund?
Hi Prospect in IB - Gen, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
More suggestions...
Hope that helps.
I wouldn’t look on it in those terms. it’s quite possible the guy with a few more years experience could outperform as a result or add value in a way someone with the same title with less experience could not. over a period of time (5-10+ years) a couple years experience here or there would probably even out to who’s outperforming or not on their P&L
A career in the hedge fund world is all about longevity, not speed. You see many people who are "30 under 30", "next hedge fund managers" etc. who burn out and leave the industry with less than 10 years of experience. The point is to try to stay in the industry for 25+ years so jumping 2 years ahead doesn't mean anything
Ideally you can retire before 25 years.
People that last 25yrs in this tend to enjoy the game and won't retire. Icahn, Buffett, Bacon, Cooperman etc.
If you're going into it with the mindset that you want to retire in 10 years you probably wont last long. Especially these days
Depends on the type of funds you're jumping between. Vanilla LBO experience won't translate at all at a quant HF. Plenty of overlap at large PE focused on distressed debt + HF though.
I’ll give it to you honestly. I work at a small fund after working at a BB. We had a very good 2019 and now are having a weak 2020. Small team, lack of upward mobility.... I look at opportunities in the market and most of them want a PE background for some reason. Brand name matters more than I thought. My philosophy was that public markets investing exp > brand name PE. It’s an odd dynamic IMO... while yes financially + experience wise I was ahead of the curve for a while, I’ve seen many other guys who jump early get stuck, whereas the PE guys have an extra shot at HFs...
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