As stated above, need advice. Current non-target, rising junior. Signed an SA offer with one of the following (EVR/LAZ/MOE/PJT) for 2020. Got reached out to within the past week from a MM HF (D. E. Shaw/P72) from HR telling me to apply to their discretionary investing teams and stating that they would love to put me in contact with a senior person at the firm. They had reached out about a month ago and I had told them about the EB offer but yet they still ended up reaching back out (with what seemed like a decently personalized email?).
Personally, I want to develop a long-term career as an investor and am especially interested in both traditional l/s & distressed debt. With that said, I feel it would be risky given my background if I were to continue to recruit as I don't want to screw up the EB offer I already have in hand and wouldn't have an elite university name to really fall back on for other opportunities. The HF also has an approximate 50% return offer from what I've heard so I assume it would be a very cutthroat experience.
Lastly, I feel that MM HF's approach investing very differently compared to a tiger cub or other elite single-manager and therefore may potentially yield wildly different experiences/skill-sets. At the end of the day, would it make sense to continue recruiting with said HF or would the difference in career trajectory be very minimal between both choices (and therefore I should stick with the EB offer and recruit later on for other HFs)? Thanks in advance for any advice.
Pass. Take your EB offer.
Appreciate the input. Any chance you could elaborate a bit more on why you're taking that stance?
2 things to take into account here: FT offer rate and career optionality in the future. Taking the EB offer wins both - much higher offer rate, you get the signaling benefit and you'll absolutely be able to recruit for these firms as well as many other HFs there (+ P72's grad program is relatively new). If you're interested in distressed and place into RX that's highly beneficial to you as well.
Whats the downside to going through the process with the HF? You meet new people, learn about a business you know little about, and you'll have a better idea of whether you want to end up at a place like that some day in the future. If you get an offer, you can still turn it down. It's optionality 101. Silly to shut the door on it.
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