Need Advice: Liberal Arts Grad - 2 Opportunities
I'm a recent grad from a competitive liberal arts undergrad (think Colgate, Bucknell, Kenyon, Richmond, etc..) and long time reader of WSO.
I have a degree in the social sciences, but have been networking for the past year within the financial services industry (no SA internship).
I have 2 offers that I am currently deciding between:
A. Middle/Back Office Internship @ very well-known hedge fund in the NY area:
- This would be paid and has a duration of 4 months till March.
- The Fund has helped past interns find positions at other firms (F.O. positions included)
B. Credit Analyst at BB in one of their real estate lending groups.
- It's an actual job (FT offer); not an internship.
Would you take the FT offer because its a position at a big bank, or would you think the potential of making contacts at the Hedge Fund (and having their recommendation) put me in a position for better placement (potential Jr. Trading Assistant or S&T at MM or BB banks?)
Appreciate any of your thoughts
If it was me, I would go HF. It is paid so you won't be starving. The opportunities are going to be better for you coming from an HF in my opinion since I am guessing you are trying to do FT IB or HF in the long run.
were the other interns from the HF that got FO offers post grad or undergrad? that may change placement.
I was a liberal arts major at a state school and accidentally found my way on to the Street (it must have been an accident, because that was about the worst possible background to start from and I wouldn't have done that if I had known I wanted a career on the Street). I started at a small broker as a jr analyst, passed CFA 3/3 in 18, and then moved to a top tier hedge fund, where I have been promoted twice in the last 3 years. I doubt my experience is at all representative -- mostly because the environment today is different than it was in 2006 when I started, but also because I work extremely hard (6.5-7 days a week most weeks -- total workaholic). That being said, it can be done, and for me, the major factor in switching to a FO HF role was the experience I gained on the sell side. Experience trumps pretty much everything else (although the better the brand of the experience, the better your exit opps), so I would take the credit analysis experience and try to leverage that into a full-time offer at that BB or somewhere else. It's really hard to switch out of the back office, even with a rec, because you don't learn anything of value.
Good luck.
Very good point on the post grad /undergrad placement - i do believe they were undergrads which certainly makes a difference.
Ravenous, thanks for the advice. Your reasoning is exactly what I had originally thought to myself.
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