LO vs. SM HF vs. MM HF
I’m in my mid 20s and will have three decisions after my bonus. Push for a promotion from associate to analyst at current tier 2 LO, join a small SM HF with a fanatic track record, or join a tier 1 pod. Can someone please help discuss the advantages and disadvantages of each at this stage in my career. I love public markets and want to spend my whole career in them. I don’t want to live in NYC forever.
Go to the pod. You're young and should be taking risk.
brother just ask chatgpt theres 20 of these threads every fucking week
Just did. AI thinks BAM is a single manager.
Old school Google search also works
It depends exactly what you’re looking for but would say either stay put or join the pod.
Without knowing more on the SM, it’s just a very very challenging fundraising environment right now and even with stellar returns flows just aren’t going to that strategy. Most “up and coming” SM are staffed to add assets so that means you won’t get paid in the way you want without inflows.
Staying put is purely a lifestyle decision while the pod seat probably sets you up with more future optionally and obviously a ton more upside. If the market starts to rotate back toward single managers, that option is still available down the line. Think pod screens best excluding any lifestyle choices you want to consider.
small HF and fantastic track record are contradictory, no? wouldn't be small if they were really that good
agree with rest of commenters on pod. how's the PM?
how'd you position yourself from tier 2 LO for these opportunities? don't hear of that too often
Getting bigger means more transaction costs, a smaller universe, less liquidity, and concentration constraints. Bigger does not mean better
I like the PM as a person but hard to gauge his investment record at this stage.
All the top pod BDs have reached out directly.
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