What is the 'Right' Path?
Senior at a top target, not great gpa, going to do coverage at BB (GS/MS/JPM). Also have experience at an HF that isn't talked about much on here, but pretty well respected. I'm wondering if I have good chances on going into HFs after the IB stint, or if I should pursue 2+2. I know a fair number of answers on the forum say there is no 'set' path, but can't help but get a little caught up in the noise of my peers starting to go through the PE phase. I'm wondering what I should do, or if I should just focus on fixing my GPA, gearing up for FT, and figure things out with head hunters as I go.
It's pretty simple. There are some HFs which will basically only hire people from 2+2. And there are some that are more flexible. That is to say 2+2 gives you more options but also ofc, requires more time.
I assume you're referring to big name MMs/tiger cubs?
Well those exist but there are also other HFs. Yes the MMs will probably be the latter and the tiger cubs the former.
Don’t worry your dad should be able to help you out
Feels like this probably depends on the type of hedge fund you want to join
How do people think about doing one of the grad programs versus doing IB and/or PE afterwards then going into HF?
Grad programs are generally much better, and produce better analysts
you are born and bred playing the quarters game in the MM risk model
I’ve heard this, but I think my perspective shifted when many of the PMs I chatted with during my HF experience told me to do the IB path, and work from there. Maybe this is more about FOMO and sticking with the advice I was given compared to reflecting on grad schemes vs IB/PE
I can’t think of a single good pm who’s interacted with a grad program analyst who would suggest this for any reason other than keeping your options open. Committing to HF at 21 is a tough sell for most, so the optionality IB affords you is the de facto reason for most people to take IB.
Otherwise there’s 0 way you can convince me IB/PE makes better analysts. I think some PMs did IB/PE and haven’t realised the calibre of talent coming from these roles is much worse than 10 years ago - given the graduate programs exist
I am biased though - i did the grad programs
My junior is a grad program guy and is scary good compared to my level when I was his age.
what is your definition of "scary good"? Not trying to be facetious here, would appreciate more color since i'm an incoming AN1 and looking to make the jump to publics.
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