ECM - Hedge FOF - Long-term commitment

I think it depends on the skillset that you will gain at the FoF. During your interviews, you should be very straight forward and ask if you will be spending time modeling and the like. While I would rarely support jumping ship this early in your career, if you are going to be unhappy in ECM you should try to get out.

I'm beyond unhappy, I'm depressed.

Then I suggest you should pursue this other opportunity. Do try to stick it out for a couple of years because you'll be asking these same guys for letter of recommendations when it comes time to apply for B-School.

Goodluck.

would hold out for real direct investment HF, but that's just me. if i were you, go from ecm to trading to HF? or just get straight into HF; if they ask why they should take you from ecm, just come up w/a good story, all this shit is just about having a good story anyway, do you really think ibanking-type modeling is that impressive that it would set anyone apart? modeling in ibanking is VERY different from modeling derivatives/CDOs/etc etc, so don't think it is anything like that in terms of complexity; i've done it for a year, it is pretty straightforward

lateralguy,

Beggars can't be chosers. My original goal was to work in Lev Fin in 2 years and then switch to PE/Credit HF. Now, I have to realign that vision, truth is that very few Banks/HFs will touch me at this stage or even a year from now. So I think I'd rather take the chance with HFFOF now instead of being absolutely miserable for a year with the hope that some HF will take me without any significant modelling/valuation experience.

I'm working similar hours to IBD in ECM and will get paid less bonus-wise, and have limited exit opps. My plan now is to hopefully switch over to a HF/HF FOF i.e. whatever I can get for two years, meanwhile I'll invest personally on the side and then reassess my options in 2 years.

What do you think ?

First off, how are they telling you expect a significant time commitment? Or, rather, how are they going to hold you to it? Not that I have any problem whatsoever with loyalty, but at the end of the day they don't actually own your soul (all other indications to the contrary).

More importantly, 2 or 3 years is not a very long time. Typical years at a level in Banking, and you never really develop any experience or value if you're constantly bouncing around. At some point you can make your own greener pastures, rather than following the pack and looking for theirs.