I am interviewing with a bunch of pods. Everyone acts like theyre the best employers but what are some red flags (obvious and subtle) that I should look for?
Some that I am keeping an eye out for (please correct me if I am wrong):
Deflecting questions about their process
No info about the PM (not even linkedin)
Not a new sub-PM but has never managed an Analyst
| +24 | James Fishback | 9 | 2h |
| +21 | Future of L/S | 5 | 3d |
| +17 | Latest blow up / wind down | 25 | 2d |
| +12 | Looking for Fund to Partner With - LMM Activist | 4 | 12h |
| +10 | SM L/S Compensation? | 3 | 14h |
| +9 | MMHF Central Execution Trajectory/Advice | 1 | 1d |
| +9 | How to prep for credit HF? | 4 | 1d |
| +9 | Moving from credit to equity? | 3 | 4d |
| +4 | Jensen Huang | 1 | 7h |
| +3 | Chefs at Pod Shops | 2 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
All valid.
Longevity at current firm and managing capital in that model (I.e., if they’ve always been at platforms, better than if they’re new to platforms).
No 1 best indicator is a tenure at multi-strats + recommendations from mutual contacts
To me, almost every pod PM's process sounds the same (some variation of earnings beat/miss and a mean-reverting view on multiples). How do you guys differentiate who actually has a good process if they all say similar things?
For the love of God, ask them about performance. If they demur on that question, there's a red flag for you.
Nothing keeping an analyst from asking a prospective employer about performance, yet for some bizarre reason, most junior people on WSO seem to think it's no-go territory.
If PMs can fake/puff up their track to get a seat, what stops them from doing the same to any analyst that asks?
I second this. Ask about performance and AUM \ GMV over the PM's tenure. That gives you a sense of whether this pod is on its way into the dumpster.
I look out for cocky PMs that speak in absolutes
Feel like not having a linkedin is probably a better sign actually hah
genuinely probably a green flag if no LinkedIn
Can I ask why?
Honestly a PM hiring is kind of a red flag - there's a lot of negative selection bias in platform hiring. Usually means it is a new PM which is a crapshoot for an analyst
If you find out the PM is filling a seat that someone has left, this is usually a pretty big red flag especially if this analyst is not promoted at his new shop. Try to enter expanding teams.
Disagree. Ask the PM why the person left, see where they're going, ask other people in the team, maybe even try and speak to the departing analyst, and see if the stories match.
In other words, due your due diligence rather than lazy assumptions. Which is, you know, what an analyst's job is about.
This is incredibly naive. You ask for sure, but they will not be honest and they’re not incentivized to. You have to see through the bs. The analyst will not be honest because he is more junior and it gives him bad street cred to talk shit. People on the team will not warn you about working with them that makes no sense. They have loyalty to the firm and hand that feeds them. His colleagues, who he shares market intel with, will not be honest either. If the analyst isn’t upgrading and going to a better shop or not managing risk the only acceptable excuse is moving to a different city to be with family or toning down due to health.
Picks his nose during interview.
Best way is to channel check…..
Qui qui officiis ut et ea aut. Aut eveniet tempore unde veritatis. Velit suscipit dolorum explicabo et sed cum. Et velit asperiores quos illum. Dolore veritatis aut pariatur dolores laudantium fuga nesciunt. Repellat voluptatem ipsam fugiat non labore.
Reiciendis quibusdam repellat aspernatur impedit. Veniam voluptatibus sit iste et.
Quidem iure aut autem quaerat. Omnis rerum omnis laboriosam laborum ipsum autem. Necessitatibus laboriosam id repellendus reprehenderit reprehenderit reiciendis. Ullam eum ea necessitatibus debitis omnis possimus. Earum odit fugiat numquam veniam qui et vero et. Quia neque et est explicabo dicta ut. Laudantium laudantium id officia accusantium eum facere.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...