ECM - Hedge FOF - Long-term commitment
First off, I know this topic has been beaten to death, but I'd like to ask those familiar with my situation whether it would be smart to leave ECM for a Hedge FOF. The fund has about $2Bn AUM, is small, and has asked me to interview next week.
They told me beforehand though, that this would be a long-term commitment and I should only jump ship if I'm ready to put in 2-3 years at the least. I'm in two minds as to whether I should stay in ECM for longer and then try to lateral into Banking/Direct Investment HF after a year or so, or take this opportunity (assuming I get an offer).
Help me out homies !
i would take a hedge FOF, personally; but that's just me, i like investing and would rather invest in the market itself. however, i know people who have moved from fof into l/s and distressed debt funds
Yea but would you take ECM over Hedge FOF ??
ECM - Hedge FOF - Small fund (Originally Posted: 08/10/2007)
First off, I know this topic has been beaten to death, but I'd like to ask those familiar with my situation whether it would be smart to leave ECM for a Hedge FOF. The fund has about $2Bn AUM, is small, and has asked me to interview next week.
They told me beforehand though, that this would be a long-term commitment and I should only jump ship if I'm ready to put in 2-3 years at the least. I'm in two minds as to whether I should stay in ECM for longer and then try to lateral into Banking/Direct Investment HF after a year or so, or take this opportunity (assuming I get an offer).
Help me out homies !
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.
ECM - Hedge FOF - Decisions (Originally Posted: 08/10/2007)
First off, I know this topic has been beaten to death, but I'd like to ask those familiar with my situation whether it would be smart to leave ECM for a Hedge FOF. The fund has about $2Bn AUM, is small, and has asked me to interview next week.
They told me beforehand though, that this would be a long-term commitment and I should only jump ship if I'm ready to put in 2-3 years at the least. I'm in two minds as to whether I should stay in ECM for longer and then try to lateral into Banking/Direct Investment HF after a year or so, or take this opportunity (assuming I get an offer).
Help me out homies !
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.
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