Turned down MF PE for a top hedge fund...
I am an undergrad at a top target who turned down a MF PE internship for a top hedge fund this past recruiting cycle. A lot of people were a bit surprised by my decision as I gave up the prestigious name for a less known one that most of them don't know about. My logic was that I really liked the strategy, team, and location, and that the team all had very prestigious backgrounds themselves. Meanwhile, MF PE would just have been 2 years of less-investing-centric work with rough hours and working with people I potentially don't like. Everyone at MF PE also seems to strike out within 4 years with like 1 in 10 getting to stay on for VP, while at my fund due to unique and positive circumstances there is a genuine path and opportunity to climb if one likes the environment. While my logic seems sound, due to peer pressure, I have been questioning my decision a lot recently. This is my ego/competitive-side talking, but it hurts in a way when I hear underclassmen talking about "that kid who's going to BX" when I'm going somewhere equally as "impressive", albeit somewhere that most college students don't know about. This is the prestige whore in me but it's starting to take a toll on me. If I namedropped here, I do think that people would be very impressed, its just that most college students have no clue what they are talking about and are just focused on the golden path sponsored on most of WSO of Goldman - Blackstone - HBS. My adult mentors in PE were more impressed when I told them I got this HF role than when I told them about MF PE fwiw. For what I want to do, there are probably under 10 openings available at all relevant funds combined in the US each year out of undergrad and I was lucky enough to get one of them. If I get the return offer, I can also re-recruit for MF PE.
As a side-note, this is not anything like L/S MM. I am not going to strike out in 10 months and it is not that type of place. If it was, I would not have accepted the offer over MF PE. I also personally feel I will succeed more in the current HF environment I am heading to rather than the MF PE environment.
WTF is your point?
Did I make the wrong decision or not. Sorry, I thought that question was redundant.
There is no "right decision". This is a personal decision over two fairly different jobs and two very different career paths - not comparing two firms in the same industry or something. If the decision you made fits your personal criteria for what you wanted to do and why you wanted to do it, then you made the right decision with what you had available to you. If it doesn't work out or you find you don't like it, don't blame yourself, just switch it up and try again.
Second guesses and regrets can be a killer, ditch them outside of lessons learned and focus on killing it once you've made a choice.
It also seems like your biggest concern is about how much prestige you have relative to your peers and how many classmates recognize the name of your firm. Which is pathetic. That kind of attitude will lead to more unhappiness in your life than any potential difference in your career decision could lead to.
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Also, state your question / point outright, ideally up front. It's not redundant. Clarity is key to communication, even for hedge fund nerds.
Are you waiting for someone to offer you a reach around or is there a goal here besides bragging about getting an internship anonymously to people on the internet?
Sorry, I was asking whether I made the right decision or not.
Either day the fund or stop wasting everyone’s time. Probably some trash HF
yeah that's what I'm thinking.
BX is 3 and out, pls fix
I mean here’s the thing, if you work in SM or any HFs with seriously strong track record, not a lot of people will know them (this is true even for bankers). You need a serious passion for public investing strategies and the upside could be more lucrative than your typical IB/PE stint at the earlier level.
It seems to me you’re equating your self worth in school to your internship/ft job, which is ridiculous. Sure, the guy/gal who is going to GS might get a bunch of underclassman sucking up to them, but who tf cares? In the hf world, if your fund is legit you can definitely build a well respected and rewarded career.
Touch grass and meet people from outside of finance. I guarantee you that 90% of the people in this world couldn’t care less abt your firm.
Just my 2cent, hope you acknowledge your accomplishments and enjoy your gig
Seek therapy
I know I need therapy
99.99% chance i could kick your ass
idk man I started lifting in college and am doing pretty well so far
whats ur max bench then bro
This post reeks of insecurity.
So basically, you followed your passion, but can’t stand that randos around you don’t appreciate your choice and the prestige of your “top HF.” At the same time you’re going at length about how Internet randos here should be impressed by the top tierness of your HF. But also smelling your own queef about how its not some shitty “MM” that’s 10 months and out? All the while talking about how shallow those undergrads that chase BX is?
So you hate being judged for not going to BX but it’s clear you’re implicitly judging all your peers at “non top tier” HFs yourself, however you’re defining it.
I hope I never work with you or meet you in real life.
Lmfao amazing how many insufferable douche bags MFs end up with
i'm still not convinced it's a real post. the lack of self awareness is insane
alright incel
Yeah MF PE would have been the better choice. But I'm sure you will be fine.
Thats a lot of typing to say you got an internship offer. Make sure to make a thread when you decide full-time.
As long as the public markets are something that you enjoy and something you're aware will require a different skillset than PE, than you made the right decision. You'll have a less standardized experience than friends at MF or banking out of undergrad, but if you are dedicated to really understanding how to develop your own investment theses and learn from your fund's philosophy, you'll gain some invaluable skills very early in your career
what's the firm? DM?
interesting perspective
Yes you made a horrible mistake that you will never recover from in this lifetime.
What city is the firm in? If Boston, I may know the situation you're in.
PM me
i think u made the right choice. Like u said, if u dont like the HF role, u can always re-recruit for MF PE. If that happens, u'll have both HF and PE experience under ur belt. Godspeed
jokes aside, this made me reflect on how the most elite places/ positions of a profession are usually niche places that regular people don't know of, and therefore think are shitty. Like regular people probs think GS is the most elite of all places in all of finance, and probs think Balyasny or Oaktree are random scammy investment shops lol. Hell, idk what people think of Blackstone - maybe they think it's a random shop too. Made me think how some guy with a random job title at a random company might be the most desired exit in that field - let's say baking or piloting or dentistry. Maybe a lot of people working at the most no-name places might actually be top talent in their industry, it's just that we don't know of the niche exits of that industry, like our friend joining the HF here
Agree with this. I turned down GS/MS/JPM mid group sophomore year for a top of the street BofA/Citi/Barc/CS group (made more money and had a better experiencr too) and then turned down top EB (Evercore/PJT/CVP) for MFPE (SLP/Vista/WP/Bain). Everyone thought I was crazy, but it's simply a function of people outside of the industry not understanding what are the top firms in each niche.
I was that kid once. When I was a freshman I thought GS was the most elite possible firm out of undergrad. I had no idea what PE was and I knew very little about HFs. After internships and more experience, I quickly realized that GS was nowhere near the most elite firm to work for and that people who actually work in the industry have a completely different view of what's a top firm to work for.
Yes I would've gotten more meat riding from peers my age and below if I would've took the EB, but got much more respect from my mentors that are vets in the finance industry in IB/PE/HF
Dude WTH are you talking about. No one cares about "elite" places to work. Its about what you do, and do you do it well, and is the place you are at the best for you to succeed. It honestly sounds like you have the maturity of a teenager to talk like this. Anyone with a real job doesn't care about how "elite" their company is, or what people think of the brand name - they are too focused on the work at hand and succeeding
Please don't humor this thread with a real response - this thread and your comment are cancer. No one actually passionate about their position in finance (whether it is IB, PE, HF, or something else) cares at all about the reputation. There is no need to sit down and reflect on this. Focus on enjoying what you do, being good at what you do, and finding a place that allows you to thrive and grow and helps you progress your career. THAT is all that matters. Making a career decision because of "prestige", or even having a revelation that extremely competitive and well respected places that aren't well known to an average joe in the midwest are good is a waste of time.
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