Move to lower-MM vs staying at BB?

Hi there,

I am currently debating whether a move to a lower-MM fund would be more beneficial in ultimately joining a top-MM / MF rather than staying at the top BB where I currently am? In short, would recruiters value actual buyside experience higher than the prestige / brand that you get from a BB place?

Cheers!

3 Comments
 
Best Response

I think it depends on what you are looking for. If you want to lateral to a larger fund, you will be competing for fewer positions. That is, for new associates, MF / top-MM funds will have the same structured recruiting process next year and the following years as they did last year. They will be looking for BB and EB first and second year analysts. Therefore, you will need there to be a vacancy in the second year associate ranks in order for there to be a need for a lateral hire. While these positions exist, there are fewer of them as turnover in PE is lower than it is in IB. This means that even if there are fewer applicants, there are fewer open positions. Maybe your position changes if you are willing to get knocked back a year but I think you would need a really good reason to do that other than prestige. In short, I think you would be challenged to make the move you are suggesting but there may be reasonable mobility within lower-MM and MM if you end up hating your position.

As a caveat, this is mostly logical conjecture. Someone with direct experience with this may have a different opinion.

 

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