So - I currently have a job offer I need to decide on but split on a decision.
I'm in a fairly cushy job - in a product group where most of what I do on a daily basis is processing/project management, some technical but very sparingly, great people, base comp is 175k, ~20-40k bonus, 40-45 hour work week. On the flipside, the work is brain rotting, VERY little growth/development, seems to be a dying product in the firm. If the group would die, I'd likely be moved to a different group.
I received an offer from a first time fund as an investment associate. It's very early, around since 2023, two co-founders, one associate, currently have $20M and closing another $20-30M additional. They've made a 6 investments so far - all are tracking at or above expected. They focus on minority / co-investments. I can't get a good feel on culture - might be questionable. The junior said 50-60 hours/wk. Comp wise - 140k base, 15k bonus, ability to invest in deals without any fees, carry is $100k vesting over 5 years(no bp given just in $ of the current fund), as well as a gp equity component. I'd see the upside as doing something, growth/development, getting on a path vs coasting without a clear path.
Curious to see other people's thoughts on the two
I would say this depends on your risk tolerance and if you are ok with the unpredictability of an investment role. You are adding 10-20 hours of work per week for less comp initially, doesn't look great on paper. However, if you believe in the founders/associate and think they have potential to grow, being one of the first employees can be very beneficial. Overall if you are really bored out of your mind at current shop and want to do something more exciting, go for it, comp comes and goes but doing something you enjoy (or at least don't hate) is more valuable imo.
I very relate to the brain rotting work. I left my first finance job post-MFin without anything lined up because it was mind numbingly brain damaging, despite great comp and 40-45 hr/work week.
And I will tell you, the months of unemployment despite the stress of recruiting for another role in a bad market was a lot better than doing brain dead tasks every day.
If you are someone who likes to be intellectually challenged and have good risk tolerance, go for it.
You’re young, you either go big or go home. Worst case scenario, firm goes bust, but that’s not a reflection on you as a junior. As long as you get transferable skills and can tell the story well, you’ll be hire-able again and with a overall fund operations knowledge.
Best case scenario, you’re getting the potential to eventually become filthy rich along with some brain exercise for not so terrible hours.
Either case, you’ll learn who you are as a person.
I’d say go for it bro.
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