Joining new PM at a MM
Hey guys,
What do u think about joining a PM that just switched from a MM to another as main analyst/sub-PM?
It feels more risky than joining an established PM
Of course the official version is the PM switched for a better payout, but how can I know he didn't blew up/got fired from the previous MM ?
What do u also think about being the only analyst working for a PM at a MM? I am afraid it is very lonely as I don't expect to be able to discuss what I do with other pods
Thanks
Yes, higher risk than established PM. Also depends which multi strat you’re referring to.
I think you should try to ask someone at the PM’s previous shop about performance if they have any visibility across teams. The PM probably has the data too.
I am in an equivalent role (running carve myself under a PM). I end up talking more with people at different shops than my own but I’d say it was an adjustment vs being in a more integrated team structure as I was previously at a single manager. But all things considered it’s been easily my favorite job ever. When you have a good year, a formulaic payout is the greatest thing on earth.
Redflag. Likely he blew up at previous shop.
Why don't you ask the PM for his track record? If the shies away from it, you know what the answer is.
Ask their former analysts and peers
Ask a trusted sell sider
Ask for a research sample to understand process
All else equal it’s an unnecessary risk on your part, but depends on what choices you have - coming out of banking, a foot in the door at the MM is still a good thing
What exactly do you people ask in interviews? Any PM who really wants to hire to you will easily explain these things. Lonely people tend to be more wealthy.
Lots of top PMs at some MMs came from other places for more capital/higher payout.
Almost every sentence in this comment is a non sequitur
maybe you just lack the ability to infer context
Agree. I have no prob sharing my track record with serious candidates and respect people that ask.
But most junior people here on WSO seem.. afraid? of asking the PM directly. Bizarre. If he hets defensive, it's not someone you want to work for, so you're not losing anything.
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