At a crossroads need advice ASAP
I’m completely lost and need help. I have two offers:
- Public markets Credit Investing (HY/Distressed) – Boutique AM
- Product/Program Management – FAANG (way lower comp)
I honestly don’t know what to do. I don’t love finance, I can’t see myself grinding 30+ years in credit, dealing with constant stress, long hours, and pressure. And I know jumping from here to a chill corporate/ops (in big tech) role is almost impossible given I’ll be a fixed income investor.
But the money is way better, and I need it. Student loans, family obligations, everything. If comp were equal, I’d take FAANG without a second thought. But it’s not. And even though I know the gap narrows at the top, that doesn’t help me now.
I think I can survive 5/6 years in credit, but I already know I’ll hate it. I know it’ll wear me down. I feel like I’m choosing between short-term survival and long-term sanity. MBA isn’t really an option for me since I’m european based and don’t know if I’ll have the cash (or even want to spend it if I did have it) on an expensive MBA.
And I don’t have time to think, the Boutique AM offer expires in 24 hours. Please, any advice is appreciated.
Based on the most helpful WSO content, here's how you can approach this tough decision:
Evaluate Your Financial Needs:
If your immediate financial obligations (student loans, family support) are significant, the Boutique AM role might be the practical choice. It offers higher compensation, which can help you stabilize your financial situation in the short term. However, this comes with the trade-off of stress and long hours, which you’ve already identified as a potential burnout risk.
Consider Long-Term Career Alignment:
You’ve mentioned that you don’t love finance and can’t see yourself in credit for the long haul. This is a critical point. While the FAANG role offers lower comp now, it aligns better with your long-term interests and could lead to a more sustainable and fulfilling career. Product/Program Management roles in FAANG also provide opportunities for lateral moves into other tech or corporate roles, which might suit your preferences better.
Survivability in Credit:
If you believe you can endure 5-6 years in credit, you could use this time to aggressively pay down debt and build a financial cushion. However, be realistic about the toll this might take on your mental health and overall well-being. Many WSO threads emphasize that burnout in high-stress finance roles is a real risk, and it’s not something to underestimate.
Exit Opportunities:
Transitioning from credit investing to a “chill” corporate/ops role in big tech is indeed challenging, as you’ve noted. However, the FAANG role could open doors to other tech opportunities, even if the initial comp is lower. The tech industry often values internal mobility and skill development, which could work in your favor.
Decision Framework:
Practical Advice for the Boutique AM Role:
If you decide to take the Boutique AM offer, set a clear timeline (e.g., 3-5 years) and a financial goal (e.g., pay off X amount of debt, save Y amount). Use this period to build a strong network and explore exit opportunities, such as transitioning to corporate finance or strategy roles in tech.
Practical Advice for the FAANG Role:
If you choose FAANG, focus on excelling in your role and leveraging internal mobility to move into higher-paying or more strategic positions. The tech industry values adaptability and cross-functional skills, which could help you close the comp gap over time.
Ultimately, this decision comes down to balancing your immediate financial needs with your long-term career satisfaction. If you can endure the short-term grind in credit for financial stability, it might be worth it. But if you prioritize long-term happiness and alignment with your interests, the FAANG role could be the better choice.
Sources: Regional Boutique vs. F15 Tech PM, REPE Megafund Asset Management Comp, AM vs HF: The Business of Our Business, Was it a mistake? A confused Private Equity junior., https://www.wallstreetoasis.com/forum/investment-banking/public-finance-into-investment-banking?customgpt=1
Anyone?
You answered your own question. Seems like the AM is the answer. Also as you said yourself you don’t need to do this one job for the rest of your life.
I presume ur still young so there’s nothing wrong w grinding for a couple years. Pay off ur loans, figure out ur family situation and then reassess
Also I wouldn’t go in with the mindset that ur going to hate it. You haven’t even worked there yet so just take it as a new challenge and learning opportunity.
Also I’m sure after being an investor there’s always a more chill job u can exit into after.
Thank you for the response. Apologies should’ve clarified I’m currently in fixed income too (about a year now), in a BSL investing seat which is why I was recruiting outside of traditional finance. The FAANG role is essentially a step back coming in as a new grad hence significantly lower comp. I do also believe I’d enjoy the work more in the FAANG role, i fit in with the team more and genuinely find what they do interesting & exciting. At the same time as you said no problem grinding out for a few years but my concern is by taking this job I’m closing an opportunity like this later down the line.
ignore title. congrats on your offers! i hear you on the difficult decision. but let's make sure to take the time to acknowledge the work you've put in to get to this point. pat yourself on the back and tell yourself "you did a helluva job."
knowing what i know now, i choose long term sanity every time. i've learned that money is a byproduct of how well you're able to sustain in life -- steady progress with something you want to do over short, sacrificial bursts will provide overall better income. it'll also free you of expectations and the pressure you put yourself under because you fixate on a single outcome (max income, top performer reviews, etc ... in other words, another person's perception of you) when you don't know what life can throw at you in the future. however, it may well be that you preserve your sanity knowing that you've got your family covered for the next x years. so it really comes down to what works for you.
just know that as much as your family is grateful for your financial support, it's just as painful for them to know they are putting you through a rough life in order to do so. also keep in mind that being able to show up for them with emotional capacity is just as, if not more, important than being able to cut a cheque for them. don't let your sacrifices turn into resentment towards them -- that's a straight shot highway for broken relationships.
personally, i would take all these external factors out of the equation and focus on choosing something that protects your sanity and humanity. it's all about how much you can handle.
Thank you so much for taking the time to write this! Honestly you’ve put things into perspective for me. I realise just thinking about taking the AM role is stressing me out, so I doubt the job would be much better. I really appreciate your perspective brother
Hard choice. Luckily, it seems two viable offers, so congratulations already. Difficult to speak, as some factors are hard to assess, specifically, how badly you need the money now. If it is something that can wait a bit, then I'll go for your preferred choice. If there is nothing you can do about it, then go for credit, but with an open mind. Make the best out of it and save the money/pay debts. Then reassess. But I'd definitely give the preferred choice a hard thinking, how to make it possible. Good luck, keep us posted!
Thank you! I ended up taking the FAANG role and feel like a weight was lifted of my shoulders.
How did you land the FAANG role if you don’t mind me asking? Congrats as well. Looks like you made a great choice.
Thank you! Appreciate the kind words. Honestly not much advice I can give you, I graduated in sept last year and have been working as an off cycle analyst in a BSL investing seat but didn’t really enjoy the hours + work I was doing and wanted tech since I had been interested in that for a while. I just cold applied to a graduate product/program management role and did the typical assessment > 2 hour loop interview which included a business case study (creating a selling plan for a product based on some data). Interviews weren’t too difficult largely competency based and some situational “technical” questions assessing my business knowledge. Sorry if that’s not super helpful but worth noting my interviewer highlighted I should pick up some SQL/Python but I wasn’t tested on that. Case study itself also wasn’t necessarily hard if you can model and know your way around excel it’s fine though I will say it was time pressured.
Only take the faang role if you’re committed to the switch but it’s a totally different path - apples and oranges
Thank you! Honestly I’d say I am, I did a lot of DD before even going for FAANG spoke to a ton of people in the role/team I applied to and some ex finance guys there too. After speaking to them I was really interested since it was more hands on, strategy oriented and a more “business” skillset.
To be completely honest I don’t think I ever really liked finance and was only chasing it for the money. I dislike modelling honestly but really enjoyed the strategic part of the job in the sense of analysing businesses/products and understanding how said company fits into the market. Credit focused more on the pure “finance” skillset I found relative to other high finance roles anyway so maybe that’s why I found it particularly bad for me.
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