I am an equity research associate and have recently received 2 offers; currently in a low tier ER firm in Asia.
Offer 1: BB research associate; top 3 II ranked in the sector
Safer route; higher pay; exp in BB environment and pedigree; top ranked team in a hot sector means a lot of connections in the industry
Offer 2: Research analyst at a new $100mm hedge fund started by a partner at a well known VC in China; he was an early investor in some of the largest internet companies today
Internet space requires a lot of local connections, and this partner definitely has better network vs any ER analysts. However, his career is VC only without any exp running a hedge fund. Strategy is long biased and mainly just global tech.
I've always wanted to join a good hedge fund, and here comes a hedge fund offer finally. However, given that the market is very volatile these days and the manager has no solid exp in secondary market, how should I look at the risk of joining this new fund?
Bulge bracket equity research. You will have better chances to move to the buyside later. $100m is barely enough to run a fund and the guy does not have good pedigree.
90% of hedge fund startups fail. This didn't register until I experienced one myself. Only thing that helped me bounce back was a bulge bracket IB experience in my resume. Build up your brand before venturing out.
This.
I stopped reading after "China"
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