Help HYP student with career plan (IB vs HF)
Hi everyone! I’m currently a rising junior at a HYP and I took an offer at a top BB for M&A IB. However, I spoke with my uncle who has a senior leadership role at a large tiger cub in Greenwich, and he said that he’d be able to get me a 2024 summer role to learn more about the industry. He also implied that I’d likely be able to convert the role to full time if I do well.
I’ve been thinking about this extensively, and have a lot of questions that I’d like answered.
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Would I be treated differently at the fund since I’m pretty much a nepo hire, and summer internships practically never happen there (e.g. given useless tasks, coffee runs, not being taken seriously, etc). Not being taken seriously or given meaningless work there while interning worries me because I may not be able to show my progress/improvement and convert the internship to full time.
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I’ve never worked at a hedge fund before, how much of a learning curve would there be?
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I ideally want to work at a top Menlo Park / SF-based VC in the future, and I ultimately want to set myself up on the best path for this. Would working at a top BB be a better starting point than at a tiger cub? Additionally, the tiger cub I’d be at also has a private investments arm if that makes a difference in the eyes of VCs.
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Would reneging on the BB offer hinder me in the future in any way?
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I also value stability a lot, and going to a BB seems like the ‘safer’ choice (with job security, etc), but would the tiger cub name brand be enough to outweigh the job security issue in the case that I lose my job / don’t convert to full time and have to recruit again.
I’m a white female if that changes anything for VC recruiting (diversity initiatives, etc). Thanks for the help in advance!
hyp to tiger cub? marry me pls
Well I would be quite concerned about the tiger cubs interview process. I'm sure they won't take it easy on you.
I won't have to 'interview' until after my internship but I was told it's more so behavioral than an actual technical interview. I guess I'm expected to demonstrate technical knowledge during the summer which serves as the technical part of the interview? I also haven't been told what I’ll be doing specifically so it seems a little out of my control and very variable.
Take the BB. The tiger cub does not have a training program (*as good as the BB) and people will be unlikely to include you in any meaningful work. People will also think you're stupid bc you're a nepo hire and assume you didn't land anywhere else.
Life is not fair :(
At risk of sounding flippant, honestly, it probably doesn't matter what decision you make. The vibe i'm getting from this post was that you were born on 3rd base and your network is likely to come through for you no matter what you choose and you'll end up ahead of most of us even if you make the "wrong" choices - embrace your privilege and do whatever you think makes the most sense or that will make you happiest.
I just want to be successful without the stigma of having everything handed to me, but it feels like going through the IB & PE grind to only get a chance at breaking into VC (bc the top places only seem to hire ex founders or ppl with insane backgrounds) seems really inefficient idk. I probably shouldn’t be complaining though and I apologize if I sounded ungrateful.
I understand what you're saying but there are a few flaws I see with your argument.
1. you say you don't want the stigma of success being "handed" to you, which is what will happen by taking the role your uncle set up.
2. you mention breaking into VC and that top places only hire people with insane backgrounds - news flash, your background probably fits that description (HYP and a top BB IB)
Some things I might also consider is that IB is a role you can hide out in and not be judged by "the market" - it seems like you think that the HF role will look better and makes more sense since its buyside but it is a difficult role that will punish you and if your whole reason for doing the HF role is to get to VC, you probably wont be good in public markets investing since your mind / ambitions are elsewhere, which may lead to you being fired, regardless of who your uncle is. The market doesnt really care who you are if you suck - maybe you won't get fired but trying to spin that into another role in private markets may be tough bc again, the market will judge you, not on a daily basis but in time.
I dont know you or what drives you so maybe none of this applies and you'll be a star no matter where you go but its just some things to think about but again, i'll reiterate my original point that I'm sure you'll be fine no matter what ends up happening
Let's be real, the stigma mentioned, no one cares unless you're arrogant, underperform, or you were hired because the firm is trying to woo parents money. But 95% of the country dislikes you for working in finance, anyway, so... yeah.
If you like the tiger cub, get familiar with the investment focus, capital raising/fund maturities/redemptions and performance. If you take this you'll have zero ability to go back to the BB
i'd say go for it. You most probably will not get super high level job, but you can learn and ask the right questions to those smart people. I'd say you will need to prove your worth because you are indeed a nepo, but do not get scared if you know your worth.
Ps be kind with ohers, not many have your luck so be kind and do good if you can.
Oh okay gotcha, I'll definitely try to prove that I'm capable if I end up taking the role. I apologize if I came across as rude in any of my messages^ & yes I'll 100% try to make the most of the opportunity.
Reneging would likely get you blacklisted from the BB and, depending on how offended they are, could get you in trouble with whoever they tell. Also, you are likely to be treated differently; nepo hires are looked at favorably by nobody.
Wow, you’re really lucky to be in that position! I’m assuming this is Lone Pine or Viking?
TBH, I think you can’t go wrong either way. I do know for a fact that someone from Coatue recently made an exit as a partner at Sequoia’s growth equity practice, so it’s definitely doable.
Even if you end up doing meaningless work at the hedge fund, you can always recruit again for BB IB full-time. Just remember to remain humble and be competent in the opportunities given to you.
Why are you interested in VC over PE or HF? I would also try focusing building a narrative around that.
Correct, it’s one of the two, and thank you I appreciate it.
I didn’t know about the Coatue guy leaving, so that’s really cool to hear, also re-recruiting for BB IB as an associate if things go wrong sounds like a safe move.
I prefer VC over PE/HF because I find the work more enjoyable (the types of companies, working with founders, etc). In HS I interned at a small VC place over the summer and I was able to contribute to memos and sourcing which was a really beneficial experience.
Ask if you can work for the private investments arm! If you want VC they do not care ab IB, top firms often take operators and analysts at the VC level. They also value independence, so if you’re one of the only juniors in the private investments arm that would be really impressive. IB is a waste of time, take the private investment route.
Got it, ty!
Tiger or GTFO
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