Return Offer at "Declining" Fund
Currently a 2nd year Associate at a "declining" UMM / MF fund.
Typical 2-and-out program with MBA requirement for promotion to VP.
I will be attending GSB / HBS for business school in the fall and will likely have an offer to return.
Would you accept the return offer (and sponsorship), knowing the firms best days are behind it (likely sequentially declining fund size), or take a chance with recruiting for another firm during business school?
is there a possibility of accepting it and reneging if you get a better job (and would have to pay up for business school but probably will be worth it in the long term)
I've thought about this and my concerns are (I) industry is small and don't want to burn bridges with my current team and (II) could make recruiting for other roles challenging (e.g., new firms calls current firm for reference checks)
Some other data points I left out in initial post are that overall, the associate experience has been fine. Very sweaty and bureaucratic, but the team is generally "normal." A bunch of mid levels have been leaving across the firm over the last two years which also doesn't inspire confidence.
FWIW - the other top performer in my cohort went to HBS/GSB/W while I stayed and ended up getting the VP promote. Fund and culture went to shit due to horrific returns + so many departures.
I left too. I haven’t talked to him about it but man I’d be pissed if I was him. Firm paid like $100k of his tuition. I think he basically traded $100k of cash for no chance at landing at a better spot, zero carry in current funds and working with 80% new people because everyone left. Non-nyc fund in area he’s from so that’s a positive but we weren’t the only shop in town.
These firms don’t care about you. If “people” is a big reason for you just assumed 50% of the people you like will be gone by the time you get back if your firm is trending THAT negatively.
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