HF versus BB
Any thoughts on big HF (Citadel, Shaw, Bridgewater) versus traditional BB (GS, MS, ML, LB)? What's better for a college senior?
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I'd take the HF offer if that's your long term goal. I never would have entered banking if I could've landed one of those HF shops straight out of ugrad.
Hell, I'd quit right now if they wanted me.
Wizard, care to share your reasons?
do Citadel, DE Shaw conduct ibanking biz?
I have no intentions of being a banker for life. I'm going to put in my time as an analyst and then I'm getting the hell out. For me, banking is (hopefully) a means to an end.
HF was the ultimate goal. If that's true for newbie as well, then there is little reason to go through 2 years of banking. Yes, you will garner valuable experience, but I'd pass that opportunity in a heartbeat. I would be far more skeptical if it was a small-time HF, but newbie mentioned the top shops.
Kudos to newbie if (s)he can land a gig at one of those HF straight out of ugrad.
but you gotta make sure you're not in ops
Remember all HF are not created equal. If you get a small name-less fund out of college, you may be better off going to work at a BB.
I just sent you a PM
...its not even close. Any of those funds are better then being a banker anywhere. Why? Pretty simple...if u are a star and start at Citadel at 22 by 30 you will be rich. Period, the end. If you start at GS, three years later you might be able to get a job at someplace similar assuming everything is right w/ the economy, you have done a great job, and you get a bit of luck. A bird in the hand is worth about 5 in the field in this case...no contest.
I agree with this in large part with a few caveats...
1) I was talking about taking a job at $100mm No-Name Capital Fund vs. doing a stint at an i-bank.
2) You have to take risks and opportunities, but don't get too far ahead of yourself. If you're not ready, the last thing you want to do is take a job at Citadel, get fired 3 months later and be f'ed...doesn't happen that often, but it happens more than you think.
How about a small IB vs a small HF? Would the HF still be a better choice?
would you all say that a summer position at Bridgewater is more valuable than a summer position at BB in IBD?
or think its worth it to take the summer bb for the experience?
u might get fired after 3 months at Citadel, but if thats true it wouldn't have mattered where you went, you wouldnt have gotten a great job after your banking stint either. If you would be succesful in the world of hedge funds, PE, or life in general u need to take (calculated) risk. Seek risk and then find a way to perform. On Wall St. you only get paid to take risk.
Bridgewater is notorious for taking a very low % of its interns for full time jobs.
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