Hedge fund exit to sell side S&T?
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Take the actual offer and not the lead. BAML and DB are both decreasing a lot in S&T right now and that might leech into other banks. You can still work on the lead though and switch back. i will say it is a lot easier to go to the sell side than to go to the buy side.
"I'm a chick and don't care as much about making millions as I do about loving my job."
This is not really something that you should say...kind of implies that as a woman you don't care about your paycheck. Just remember that women are paid 77 cents for every dollar a man is paid for. Let's not bring that down...
Why did I get monkey $hit for this?
Because the 77c on the dollar number gets thrown around all the time but doing any actual research on the subject will show you it's utter bullshit. In all likelihood there is some element of discrimination, but it's probably around 5% (and even then there may be extraneous factors like the riskiness of the jobs taken by men vs. women). It hurts progress towards equality when people throw around figures that have been proven to be misleading.
http://www.wsj.com/articles/SB10001424052702303532704579483752909957472 https://en.wikipedia.org/wiki/Gender_pay_gap#United_States
thanks guys.
And you're right, I shouldn't have phrased it like that. Didn't mean it in terms of pay equality or anything, just that I plan to take like 3-5 years off when I have kids, so I don't care so much about setting myself up to advance up to the next best thing (like PE/HF/PM roles) which so much advice on this site seems to be geared toward. I just want a job I love and can come back to while raising a family.
A) im not sure how many people BW hires but I wouldnt put this out there, that firm is notorious for being very anal about any sort of publicity (friend of mine was told he cant even put in facebook etc)
B) Id take Bridgewater because it sounds like what makes you lean towards BB S&T is the "pace" and "exciting nature", and trust me those fade after a while. Life on a BB S&T does become very routine once you scale the steep part of the learning curve. After about 2 years on a sell side trading desk I had the knowledge and it was just abotu getting experience through routine. Dont get me wrong its interesting, but nowhere near the breadth of learnign opportunities at a HF. Also BW will open a lot of doors in finance if you do decided to go back to the sellside, the transition from sellside to buyside is infnitely harder than the other way around. Also the sell side is not what it used to be at all, you might not care about fat paychecks, but it goes beyond that, people are so risk and capital constrained that its become a lot less exciting of a job
HF research to SS research? Sure. But it is certainly not 'Infinitely easier' to go HF to S&T.
Hell, everything in S&T is difficult now-a-days. I've been told that Citi (at any given time) has like 20+ S&T kids looking to be permanently placed after their analyst programs.
If you like S&T? Go for it. It may not be the popular opinion on this board, where everyone believes HF 's are the promised land- but in S&T you will definitely learn alot, have the chance to make a lot of $$$, and also have a LOT of fun. Worse comes to worse, you can always go back to bschool and head to the buyside afterwards.
FYI- I had a ball in S&T. If I were at the right shop, I would have never considered leaving.
Believe it or not you can have a 'great time' on the buyside as well
But i stand by the comment of moving from HF to S&T is infinitely easier than S&T to HF (i'm obviously comparing roles where you take risk). Not saying its easy, but its much much much easier. Just think about all the sellside contacts you talk to on a daily basis, your network expands infinitely at an HF.
And if it is difficult to get into S&T from HF because noone is hiring because biz is sh1t, then in that state of the world you want want to be at an HF anyway.
Having done both, at an HF you will learn more, make more $$$ and have much more upside, and for me at least I have a lot more fun (both professionally as im not just pricing risk for clients but also the culture of the firm).
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