Honestly struggling to process things properly. Looking for thoughts on the below career paths. Not posting here just to brag.
Me:
Senior at a semi-target. Good enough, but not spectacular grades (will be low magna, but not summa cum laude). A+ internships (major VC internship, EB M&A internship, top-tier BB CapM internship). Solid leadership/extracurriculars, but not the best (head of biggest club by membership/3rd biggest by budget, 'member' of a few other clubs).
Trying to compare:
a) Analyst in capital markets at GS/MS/JPM in NYC
b) Analyst program at non-Blackstone/Carlyle/Apollo MF PE in a minor office/unconventional city/new team
c) Analyst (PM track) position at major (non-HF) asset manager in their California office
d) Product Manager role at a major tech unicorn (Uber/AirBnB/Similar) - my choice between NYC and London, but the California offices are off the table
One offer is in hand, the others all have upcoming final rounds/superdays, but through various factors, a/b/c are effectively sure things (d I honestly have no idea how it will play out).
My thoughts are:
1) I really didn't like the team I was on / the work I was doing in capital markets.
2) I really enjoyed my experience in M&A (as much as an intern can anyways) and can see myself enjoying a buy-side role.
3) The people seem the best (most qualified and nicest) at b, and I know/like the city I'm interviewing for even though it is not a major one.
4) b made clear that the business is doing well, and that they are looking to promote analysts to associates without requiring B-school at any stage (assuming high performance/the fund keeps doing well).
5) The AM firm would be the lowest paying and probably the least interesting at first, but I would have a very good/close mentor, and long run compensation seems pretty solid. Also probably the easiest hours/general job.
6) Being a PM at a tech firm sounds awesome, but I think there is a reason most of them are experienced hires - I would have +/- no idea what I was doing and not much in terms of mentoring. (Their recruiter found me because I study CS in school, and tracked me for a PM role after I explained I was never going to pass the coding tests to be a software engineer).
7) The PM role would come with equity compensation in addition to salary, based on performance. IF I performed well, with equity, pay could be 2-3x as much as anything else on the table. Without equity, the PM salary would be comparable to a/b compensation.
8) The people at the tech firm are a bit.. different from who I've talked to. 2 people I know from school work there, and they were both markedly unfriendly/arrogant people.
My inclination is to go with b. Is that a smart decision all things considered?
Also, a part of me thinks I may want to go to business school. Is b the best decision if I want to go down that road?
If I were in your situation, I would almost certainly take B. A MF analyst program sets you up amazingly for a career in PE.
Now, if you're concerned more with compensation, and think you can do a good job, then perhaps option D is more suitable.
I would lean towards option 2 but you have to know that making partner at MF PE requires lots of efforts and luck. And also make sure you do actual execution work out of that office. I am not sure about the office setup in MF PE but it is such a pain in the ass if you only do the heavylifting and support work from satellite offices, which might throw you off quite a bit. You could end up transferring to NYC/HQ offices if you play your cards right.
Bottom line: you can always fall back on a solid MM PE if the MF PE track does not pan out for you. Tech can also be a viable option as well.
As an update, I went with D. The situation changed a bit - the startup is expanding a division in NYC, and hired me to be the #2 in the NY office covering LevFin. The comp package was a bit oversold, but still above the MF PE offer. More importantly, I have an amazing mentor of a boss/#1, incredible hours (still a bit unpredictable, but much closer to a 40 hour week than an 80/90 hour week), and engaging work everyday. The career path is less linear, and even tho comp is above MF PE now I know it won’t be in the medium/long term. But, it’s enough to be comfortable in NY (at least as a young person without kids), I’m happy and it feels like I made the right call. Plus, I figure that the higher rank/more responsibility combined with the LevFin focus sets me up wel for VC/BSchool/potentially PE if/when I ever decide to leave.
Leveraged Finance at AirBnb or similar? Did i misread the post?
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