Hi, long-time lurker of these forums. Really helped me through the years with all the more experienced folks. Tough times in the markets now, but I generally enjoy the exciting dynamic and intellectual challenge of finding value, winning and beating the markets. Currently an analyst at a small HF. Job sounds great, but here are some of the drivers of my current situation.
I am a couple months away from hitting the mark on green card/residency, which has been a huge goal for me as all my friends are here, have built up my life here and would hope to continue to live here. The stress of knowing I can be fired next week/month, and in that scenario most likely outcome is getting deported back home. This has been constantly on my mind since I graduated and also a huge driver of my decisions/fears/career. I don't really mind doing an interesting job, decently paid as life is not all about making money.
Lifestyle is non-existent. I am constantly working, 6-7 days a week. I have no mental/physical energy to pursue anything else, I am constantly thinking about my trades -- Right before I sleep, and right after I wake up I log on to bbg. At times the mental strain is so bad, I wake up breaking out in sweat thinking about my downside/worst case scenarios. The constant pressure of tracking my hit/miss ratio adds to that even more.
Pay is quite below, and the bonus is highly subjective. Still sharing a flat renting with other people, which tells you alot.
Performance has been tough this year, lots of funds wiped out recently but thankfully we're still going. Had several interviews with other top funds, got quite close in some but no offers. I'm at a late stage with an MM bank for a senior associate/VP equity research role and they've strongly hinted at an offer. My base would go up 30-40%, but bonus would be probably much less 20-30%.
Aware it is a step down, work would be less stimulating, and generally sell-side is a declining/dying industry. But on balance I think lifestyle will be better with more hours outside work, heard the people at the MM bank are generally nicer, and I can finally secure my green card/residency which had been a huge driver of stress for me. Working at a HF is exciting, interesting and stimulating and I have learnt a lot about investing, market dynamics/psychology but at the end of the day what I feel I want is to lead an interesting life not just aiming to make the most $$. But deep down I feel like I am chickening out, backing away from the fight and giving up --- Any thoughts?
Honestly it doesn’t sound like you are in an ideal place. The comp, PM, and strategy seem a bit off and not like the best place to be.
You are right, the sell side won’t be as interesting, but you’ll have a better path and probably comp trajectory.
I would normally say to keep interviewing with other buy side shops, but it depends on how much longer you can stomach this and how likely you think it’ll be to find an opportunity. Going back to buy side won’t be impossible if you go to a bank, so it’s not like you are giving up.
The comp is pretty bad at your place and I doubt they’ll really treat you well going forward based on what you’ve said so far.