Renege on BB IB for MMHF?
Interned at a lower bulge (DB / Barclays) and have an offer to go to a top MMHF (C, M, P) as a pod equity analyst. I already accepted my return offer, is it worth it to renege for HF? I want to end up working in public markets long term. How would you go about reneging? Email HR?
Bump
Depends on what seat it is. Is it one of the grad programs (specifically P72 Academy/CAP)? Would take it in a heartbeat IF you want to do publics LT. If you're joining a pod directly out of undergrad, I would try to diligence it to get a sense of the quality of the PM/seat. Feels like it's tough to ramp up for a role like this directly out of college, and you want to make sure you're given some rope to learn
Yes it is one of the grad programs.
Oh okay, see my other comment
Also, if you're not sure you want to do publics LT, I wouldn't take the seat. I was in a similar situation, but given I'm also interested in private markets, I chose IB. If you're confident you want publics, think there's no better training ground than the grad programs
Go to the pod and don’t think twice. You can go back to banking if you want to later on.
And yeah, you would email HR and say you’re pursuing a different opportunity.
Have been at a pretty sizeable LO for a few years now, and as someone who has more post-college years under their belt than college years, I would actually suggest IB.
People saying "pick MM if you want to do publics LT" aren't actually telling you that there is absolutely no way to know that you want to do publics. Working in public equities is one of the most unique jobs out there. It's quite literally, very hard to describe all the nuances until you do it. You enjoying trading your PA offers little in regards of knowing if you actually want to do this job or will excel at it.
I would suggest focusing on getting a general corporate skillset locked down before you move, i.e., presentation skills/executive presence, attention to detail, collaboration, and a proper network with your analyst class– IB will provide great training for all of these things. These traits are career intangibles and invaluable. It's not the easiest to move away from a HF to do other things. HFs in general, teaches you little of value for roles excluding other HF/LOs, unlike IB/consulting/PE etc. I started off at a GS/JPM/MS and it was really good at teaching me professional skills, which are missing from most who have been pod/buyside only.
You're young and the world is changing a lot and as such I think it's more important than ever to be flexible and remain attractive to the plethora of, depending on your perspective, expanding/contracting opportunities. I also think that people, myself included at your age, heavily discount the fact that you win this game we all play, by staying in the game. I know a lot of people who left my BB bank at the same time as me who did the pod route and are washed out 2-3yrs later. You absolutely don't hear about it on this site as much as it is a reality and it informs my take in this post.
Great opportunities all around. Congrats– you should make sure to celebrate!
Thanks
Don’t listen to this guy. Many juniors are churned out of HFs, but it’s also true that many sharp analysts hate banking and burn out. I have several friends who burned out of banking and had to downgrade jobs. Also just like in many other industries, AI will disproportionately shrink roles for juniors in hedge funds rather than for mid and senior level. Take the grad program seat and don’t look back. Assuming you don’t have a ton of loans, you should bet on yourself here
I can't really offer tangible advice without knowing your specific circumstances, career goals, personality, etc. But I'll offer some points to help make a decision.
Helpful thank you
M looks to be poaching people with FT offers
Do you mind if I PM asking for advice on recruiting for MMHF?
Why do y’all have a hard on for the MMHF grad programs when one of them is widely known to be toxic and not at all supportive of analyst growth. wtf?
Interesting, Which MM is unsupportive of analyst growth?
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