How would you think about the pros and cons of each step? I hear that at each step, there are some benefits and downsides of having more experience before moving to a hedge fund. Here are my thoughts/ what I've heard, are these accurate or are there other things to consider?
1. IBD>HF is the most direct route, but (1) probably difficult to move to a top-tier hedge fund out of a regular banking group (Blackstone restructuring, etc. not withstanding) vs. a solid PE shop and (2) may be riskier to fall back on your feet if you get fired, fund blows up, you realize you dislike the HF job and leave early with less corporate skillset to fall back on
2. IBD>PE>HF (1) more indirect, but seems like more top funds are willing to hire from a wider set of PE funds but only the top IBD groups, so a more realistic transition (2) eases your way into the buyside and you get the advantage of evaluating investments in a more structured/hierarchical environment first (3) it's easier to go from PE to HF than the other way around, so more optionality
3. IBD>PE>MBA>HF (1) very expensive in tuition and opportunity cost + hear that MBAs are often a negative for HFs (other than the really long-term, PE like investors), so seems the least attractive (2) optionality to go to PE/corporate if HF jobs aren't available (3) longer term stability (if you leave a HF without an MBA, might be harder to get back on your feet vs. if you do), (4) stronger network for fundraising, investors, etc. (but this is way down the road)
any other thoughts? (understanding that it's also dependent on quality of the individual opportunity- I assume that you should probably take KKR over a no-name HF, or Farallon over a no-name PE firm or non-HBS/GSB b-school, etc. no matter what your end goals are?)
bump
">" is normally considered a 'greater than' sign. Given the context, I thought you meant this to be an arrow. Few people will understand this if they read the headline.
Also, you sound like a gigantic mangina, but I'm sure that works for you on some level.
I bet you're a fun guy to get a beer with. Shit, I bet you get a ton of bitches too.
dude go work in ibd first, all this shit sounds great while you are in college but your perspective will change in someway if you arent a robot once you start working 100+ hr weeks regularly
the reason I say that is because none of those career paths are accessible if you don't have the above figured out, regardless of your interest.
I actually turned down an offer at KKR to take an opportunity at Closeted Virgin Capital (kinda lesser known niche fund) and it was the right decision for sure. Be careful weighing your options. Hope this helps.
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