I have a friend who had offers for undergrad summer internships from Goldman Sachs SSG, Bridgewater (Investment Associate), Citadel, and KKR and Blackstone PE. What would you all take if you could essentially work anywhere you wanted? Any of the above? A different group at Blackstone or another hedge fund? Something else? Which path would give you best long-term prospects and safest path to make 9 figures?
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are you serious? safest path to 9 figures?
I always liked the option of being a janitor and robbing banks during my free time as the best possible route.
No such thing as a safe path to nine figs. Except hyperinflation...
Calm down. OP is from Zimbabwe and is asking about nine figures per day.
In all seriousness, best chance at nine figures is "none of the above" and taking the offer from Blander Securities that you forgot to mention.
OP is just a troll who wants to make everyone feel poor.
Why even bother with the "I have a friend" thing? Such an cliche troll.
If you do a linkedin search for GS SSG interns, you find that a lot of them just do Goldman IBD full time - doesn't seem ultra impressive to me. It's my understanding that KKR/Blackstone pe kick you out after 3 years so you have one less year to create a robust profile for hbs/gsb. I consider that a big deal unless you can jump to an elite HF. I don't know enough about Citadel's or Bridgewater's programs to comment on them.
The kids in advisory at Blackstone have the highest MF/elite HF placement per analyst. So if you're trying to play the numbers game then put your eggs in that basket.
Sorry all, I meant 8 figures. But I appreciate the copious quantities of steamy monkey shit thrown my way.
And I'm not a troll.
SSG conversion rate is extremely low.
What about Blackstone Real Estate PE? They hold on to analysts so I've heard.
You can take any of those firms and will eventually get there. Your BB offers would also work, too.
Your info is pretty terrible here. BX PE is still better than BX advisory. The latter tries to get into the former. same goes for SSG. i know 2 kids who did SSG as interns (NYU kids), but they were "data interns" and not actual investment interns. both of them didn't get considered for SSG as an actual investment analyst, but given that they had SSG on their resume they were able to pick up IBD no problem. no one picks GS IBD over SSG. no one picks BX M&A over PE. These are probably the best two jobs on the street, if you're trying to keep your options open. If you find a good hedge fund fit, then of course that will be just as good.
The SSG -> IBD interns I saw on LinkedIn were mostly NYU so perhaps the group saves a spot for NYU kids to get SSG on their résumés. Your info might be right.
On the other hand, I'm sure the analysts at Blackstone M&A/RX would agree with me when I say Blackstone PE is not even among their top 5 in terms of desired PE exits (not even top 10 if you consider HFs). In addition, an analyst gig in advisory places better into elite HFs than one in PE (though the PE sample size is admittedly small). I personally know a handful of analysts who work(ed) at BX who pursued M&A over PE as a matter of personal preference, so I have to disagree with you there.
Good luck with your summer internship at Barclays, kid.
Pro sports, finance is lame
Forget money then, if you had the above offers which would you take?
Much better question... I'd go for Bridgewater or Citadel. Those will allow you to develop the most unique/specialized skill sets. The others are all basically derivatives of banking roles.
I would say Russell Wilson had the best job coming out of undergrad. He already won the SuperBowl as the QB. How can you beat that at his age?
I would argue Jonathan Toews had the best job as an '88 birth year coming out of undergrad.
Safest path to make 9 figures...and I thought the 7 figure posts were bad, now someone wants a SAFE path to 9 figures. In all seriousness, I'd think Private Equity but I am not in that field nor do I know anyone who is, although I know OF someone who works at Blackstone through a friend that does pretty well, but I don't know how reliable that source is. Maybe the real estate stuff you were talking about....there's a guy who made millions with a fund decades ago (when trading was a far, far different game) and said "I became a millionaire trading, now I'm going to become a billionaire with real estate".
Money is great, and it's definitely a driving factor and motivation, but the reality is most people aren't going to be making even 7 figures. 9 figures (or even the 8 you supposedly corrected) is an astronomical amount.
@jargon223 I meant 8 figures. It's all relative, but I was looking for a quantity on which one could easily retire. For most people on here, 8 figures actually isn't an astronomical amount. If the goal is to retire and live off the interest of one's savings, then $10mm net worth, so figure $6-$7mm liquid, is barely enough to do that. Figure 7% on average over time on $6mm principal and you're looking at a $420k yearly pre-tax yield. Post-tax we're now in the $350k+ range, and that to support oneself, one's large family, etc. should certainly cover everything if you're in a non-SF or non-NY city, not even considering inflation.
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