I’m considering a lateral move at Principal level.
i could go to a $800M fund people haven’t heard of where there’s a clear path to MD in 2-3 years
Or join a blue chip $10bn fund where I have no idea how progression could go, but better comp and reputation.
I know it’s a personal choice but…
If you were in my shoes, what would you choose?
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More context would help. On economics, how many partners are at each firm? How old is each firm (are founders still at both)? On the personal side of things, how is WLB at each firm? If economics at the partner level are similar between the two (very possible), but you’re working 50 hours at the LMM firm vs 75 at the UMM, that would be an easy choice for me.
800 isn’t even small (is this fund or firm) and assurance of partner track is valuable. I’d have a transparent conversation with UMM on progression. Obviously a lot of variables here I don’t know. But partner is a sweet gig, and perpetual principal perhaps the worst of all worlds (responsibility, sensitivity to reputation getting sunk with a bad deal, having to prove yourself to get that promote in the end). I think the mental toll of that…and to the poster above.i mean I can’t even see how you’d predict hours prior to joining. But I assure you few partners work 75hrs. But then again - they might - it depends on the partner and how much leverage you have about juniors. So maybe try to envision the partner role - (I presume they will tell you an indication of economics) - but more than Econs, do the current VPs and associates that WOULD report to you seem like smart guys you could lean on? Or would you be sweating trying to micro manage them well into your partner years.
One other variable to consider is that the junior / mid-level execution team is likely marginally to significantly better at the blue chip firm, which can make your life a lot easier
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