Small HF vs BB IB out of undergrad
I've got an offer to work at a small HF out of undergrad and I'm not sure if I should try to go that route or maybe to BB IB.
I like the culture at said firm, but I'm worried about my career progression if I go there in terms of exit opps. I don't see much I could do after two-four year as a HF analyst, but I know from BB IB the opps are endless.
I am leaning toward the firm because I loved the environment and work there, but what could I feasibly do after a few years there if it ends up not working out? Is it pretty much just B-school and pivot, or is it common to go from small HFs to PE, IB, etc?
I've never heard of anyone going into IB from HF, especially at such a junior level, and I don't see why any firm would prefer a HF analyst over someone who did IB at a BB.
Want to trade jobs?
No question, if investing is in any way what you're aiming for long term. A tiger cub name will beat out any banking group 10/10 times for a look at an investment role unless it's something very specific like an RX group into a credit fund.
Do a LinkedIn search on past analysts that used to work at the fund. Where do they end up? Assuming this fund is probably 10-15 years old and has at most hired 10-20 analysts total out of undergrad over the years (likely a much lower number). Shouldn't be too hard to track down every single hire they've made on LinkedIn.
If churn is low, returns good, team culture good, and long/short equity is exactly what you want to do, then there's no reason to turn them down. Also even if churn isn't low, as long as people are leaving to go other hedge funds/buyside opportunities then it seems like a solid job to me.
Take the HF role. That’s ultimately what everyone is grinding for anyways in IB. You won’t have the modeling experience from IB, PE but you’ll already be a god so it doesn’t matter.
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