HF recruiting from BB (GPA, deal experience, when to start etc)
After networking relentlessly for two and a half years, I was able to secure an SA offer at a BB in their top coverage group (a top 3 group on the street) with a medium GPA (3.3 which is actually a top 15% GPA at my elite LAC). I accepted my offer to join FT and could not be more excited. As an employed senior, trying to boost my GPA has been my only goal (and catching up on WSO) thus far. I am worried that if my GPA gets any lower it will start to really hurt me with buy-side recruiting. My eyes are not fixed on moving to a mega fund at the first opportunity, frankly it is just not where my interests lie. I am a market addict and would ideally like to move to L/S deep value or distressed debt fund after I have completed my banking tour, however my bank does have a direct associate promotion program in place after only two years. If your eyes have already skipped down to the bottom here, I have just outlined my main questions below.
1) How concerned should I be about my GPA?
2) How should I approach the HF recruiting process?
3) Should I explore PE because that is where the jobs are and HF's like the investing experience?
4) Were I to stay at my bank past the analyst level, would I gain anything from staying on as an associate for a year or two? More experiece, keeping my business school card, higher pay at the next job?
I appreciate any and all feedback and apologize for any redundancies with older forums. Thank you WSO community for all of the wisdom and laughter over the years.
First, you shouldn't be wrapped up in this during your senior year. It's the one time to chill out.
What are you going to do about it anyway? Just do the best you can and you'll get looks regardless.
The funds you describe will usually hire as-needed rather than the megafund schedule (year and half out). I'd probably recommend staying for two years instead of just one if you can tolerate it. You'll be more polished and have more context in your space. When I interviewed I had an idea of the situation for most distressed credits. I don't think I would have had that after just a year.
I had no interest in PE and it's not like a standard path to get in. Some guys where I work did PE previously but would just shoot for what you want to do out of the gate.
Thanks for the advice Buegie. Had you been following funds that you wanted to work/whose strategies appealed to you or did you just decide one day to start looking?
I was in RX previously so I knew most of the funds. Interviews pop up and you just pick what makes sense.
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