Received a L/S equity offer and in the process for a L/S credit opp. In all honesty, the credit position sounds way more complex and interesting. Wondering how at the junior level, holding performance equal:
-Hours compare and work intensity -Comp compares and what the progression is like
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All of these things depend on:
1) your own ability
2) fund you work at/PM
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i interviewed for both L/S credit + equity shops (London) but in the end, i decided for the latter.
fundamentally, both are very different. Within L/S credit, understanding legal docs represents a key part, and if this is something you enjoy you should follow that passion. I get bored reading legal docs and hate the ambiguous legal language, which was a big factor in my decision. L/S equity is more about understanding i) what the market misses, and ii) get's wrong about the business model; thinking 2-3 years ahead.
in the end, passion and intellectual curiosity are the biggest motivation engines so I can only advise you to be true to yourself. also, working hours and comp will be driven by those two factors (though noting that L/S credit returns are somewhat capped)
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