What's your ranking of buyside careers on a risk, stress, time adjusted basis?
I'll start: LO > SM HF > UMM PE > MFPE > MM HF > MM PE > PC.
here's my rationale in no particular order.
- Stress / Effort: tough culture, hours
- Risk: no real risk of getting fired but promotions become competitive ( )
- Earnings: among the highest + consistent/stable + chance for carry
2. MM HF
- Stress / Effort: worst in terms of stress, among the worst hours, constantly thinking about stocks, actually have to use brain
- Risk: risk of losing job, no bonus etc.
- Earnings: variable, can be lucrative if pod outperforms
3. SM HF
- stress/effort: performance-driven stress, unpredictable hours
- risk: performance-linked job stability, bonus variability
- earnings: potential windfalls with fund success, less consistent than MFPE
- stress/effort: more relaxed, long-term outlook
- risk: steady job due to strategy
- earnings: consistent but usually not as high as HFs or MFPE
5. UMM PE
- stress/effort: intense at times, especially during deals; more balanced than MFPE
- risk: good job stability but upward mobility gets challenging
- earnings: sits between MM PE and MFPE, with carry at senior levels
6. MM PE
- stress/effort: active during deals; demanding
- risk: stable position, but progression can be tough
- earnings: solid, with carry potential as one advances
- stress/effort: fluctuates with deal stages, intense due diligence
- risk: generally stable but varies with market and firm
- earnings: competitive but might not match PE highs