Two offers: MM PE and LO AM

Bump

MF PE given my read of you. I don't think you'll be happy in LO AM long term. 

plateauing at 800k-1mm... seems like a MF PE douche.

IMO, you need to have really high conviction in this MM PE firm generating above avg. returns over the LT (how has prior fund performance been, what has driven this performance and is it repeatable, how is current fundraising going, etc.) for it to be a better seat than an analyst role at Wellington/Cap

Both will perform terribly the next decade.

Few other considerations - obviously bit biased as someone who works in MM PE but things I considered:
 

• Do you prefer team-based work or individual? PE is obviously moreso the former while LO is largely individual contributor-based (which has implications for both day-to-day and probably job security given very clear attribution and accountability)
• Do you like or dislike the variety and high volume of PE deals? I ask because PE involves (for better or worse) evaluating tons of companies and business models, while LO shops of this size focus on a smaller universe of names (given need to focus on stocks with market caps that won't move (much) when these large funds trade in/out of positions) - I can see merits here (highly focused, clear hunting ground) and downsides (could be boring or less fulfilling when you're just assigned to evaluate the same dozen names as your peer at [fill in the blank other LO shop] and sort of feel like you're just moving money around versus having material impact)
• Do you enjoy portfolio company management and influencing business outcomes? In PE, doing the deal is obviously just the first inning and the next 3-6 years are equally critical as you think about steering an investment (including all the grunt work that comes with it but also the fun of helping shape something at the board level). Conversely, in LO, the thesis-building and analysis is the bulk of the effort and your influence (and seemingly effort/workload) thereafter is minimal beyond reporting/transcript review/justifying holding, etc. (unless you're at an activist fund but unlikely amongst the names you listed).

Congrats on the offers. Two highly sought after roles and pretty wild to land both. Only flag, as you probably know, the 'door' on each will probably shut, so this decision is indeed important. Said differently, most LO roles of this caliber only really open for new analysts at the post-MBA level (and don't do much experienced/lateral hiring), so it'd be tough to dabble in PE first then switch to LO. Similarly, as you know, if you go LO and leave the PE world, it's harder to get back in, albeit probably a tad more accessible.

Successful senior analysts at Wellington and Capital make millions. Fee compression will not change that. 

I would personally do LO asset management, those seats are extremely difficult to come by. There are very few jobs that beat LO in terms of hours / comp. If you really hate it, the door back to MM PE will be open because of your prior MF experience. 

I do not understand how you are making this thread in July in between your 1st and 2nd year, as LO firms recruit in Jan/Feb for internships (and generally do not hire students without an internship test run) and full-time PE recruiting does not start until students return to campus in the fall. Something smells off