Stay at Large Bank or go to (smaller) Hedge Fund/Private Equity Firm?
I have a question that I haven't been able to really find any answers to online. If you think you've seen a thread before that addresses the question I have, please feel free to post it. I'm largely looking for people's opinions/advice.
I currently have a position at(Compliance. Yes, I know. But, I graduated in the middle of a pandemic. Life happens.) and will qualify for internal mobility next October. I have a master's in statistics (thesis relating to financial mathematics) and have passed the first CFA exam. So, I feel confident I should be able to get into a revenue generating division next year-ish.
I threw my resume out into the wind and got some interviews for a variety of private equity firms/hedge funds. They are not top ten firms, but some of them have reasonable AUM (~50 billion). One I'm particularly interested in concerns being an analyst on a distressed debt team. Yes, I'd get a significant pay raise right now (+~40%), but I'm more concerned about the long game.
So, my question is should Ifor a while longer (~2+ years) or should I jump ship to a hedge fund/pe firm? I've posted some goals/concerns below.
- Ultimate life goal: make a lot of money, duh. (I'm absolutely fine working insane hours, etc.)
- I haven't worked at GS for very long, leaving now would definitely be a blemish on my resume.
- GS doesn't pay as well as it once did. As evidence, there's currently a mass exodus of partners at the firm. Bonuses were horrible this year for almost everyone at the firm.
- I want to get an MBA from a top school (so I can later start my own fund), but I'm afraid that leaving GS for a smaller firm will look bad.
- I'm not exactly sure what my career options would look like after the hedge fund analyst position. (Let's pretend the firm doesn't collapse in the next two years, and that I don't get fired.)
So, with all that in mind, what do you think?