Hello everyone, I am a South American student in my final year at a target uni in London and I currently have 2 full time offers and I am stuck and do not know which one to choose. The offers are:
1) A full-time offer from an elite boutique (Lazard/Rothschild) where I would be doing a mixture of restructuring and M&A in the London office
2) A full time-offer at an asset management fund for a rotational graduate programme in PM tracks and Equity research tracks, also in the London office. The fund is large with more than EU400bln in AUM and more than 16 locations worldwide.
My career goal is to eventually become a PM at a hedge fund here in London or possibly in NY. I am really not sure what I should choose. On the one hand, what I would be doing in AM would be much more similar to a HF job as it would be investing although with a more long term perspective, on the other hand I am not sure how possible the transition from AM to HF actually is (especially here in London) and I am scared to be stuck at a large bureaucratic organization (possibly less clear career path than in banking) with few opportunities to join the hedge fund industry.
As far as the banking offer is concerned, I think it is the safest as it seems like you cannot go wrong with banking as your first job, but I also think that the exit opps here in London are not as good as in NYC and thus I could be putting in all those hours for two years without even having the option to eventually leave for a good HF role with a PM track. Moreover, I would enjoy banking less than investing and I would have to put in many more hours.
To sum up, my questions for you guys are:
1) How easy is it to transition from AM to HF in London? Is it easier or more difficult when compared to doing so from banking?
2) Assuming I do not succeed in leaving AM, how do compensations in AM in my 30s and 40s compare with banking? Would I be earning significantly less in AM?
3) What would you do if you were in my shoes given the that I am sure that my long term goal is to be a PM at a hedge fund?
Thank you very much in advance!