If anyone can give me any type of advice, I'd really appreciate it!
Long-time lurker, first-time poster here. Basically, I'm at a crossroads. I'm a senior from a MAJOR non-target (think small state school) set to graduate in May. I only went to said school to play a sport after my original team was cut at my first school but I'll save the details of the sob story for sake of brevity. I'm graduating with a double major in business and econ (good) but I only have a 3.6 GPA (less than good). I know I want to do endgame in HF or VC so I had my focus set on IB. After a long and terrible 5+ months of extensive recruiting and networking, I have nothing in IB.
Now, this is where I need advice.
I have a job offer from a very small unknown asset management firm back in my hometown outside of Philadelphia. Surprisingly high AUM/AUA for size, attractive but not great starting pay, awesome benefits, and super knowledgable and experienced management team with prior PE/AM experience at some bigger middle-market firms.
I also have an acceptance into the MSF program at Rochester Simon. I received a 50% scholarship and would likely be doing a grad assistantship for my sport that would come with some additional tuition assistance.
Basically, to break into IB, would it be better for me to take the job and make some money at an unknown asset management firm, or take on a bit more debt and network for IB out of Simon?
I've gotten mixed responses from my network. Some say go MSF because of my virtually nonexistent undergrad debt, others say take the job because nothing beats experience.
Some additional points: I have internship experience at a very small IB shop up in Boston (no offer but the offer was not expected), I am a four-year student-athlete, I started an Economics focused research club, I'm a senior analyst in my schools Portfolio Management/Fund club that manages a portion of the endowment, and I also have internship experience in marketing research.
I'm not looking for BB IB, I know that's highly unattainable with my credentials. I'd love to work for a MM or Boutique level shop and network out of there into HF or VC.
If anyone has any advice to give me, I'd greatly appreciate it!
Sincerely,
A stressed-out and confused college senior
bump
Sounds like you're talking about HL (outside of Philly, exp. mgmt, high AUM/AUA, low pay, but definitely not small & unknown player). I almost took an offer there and decided on a different shop, although similar, and did co-investments. Take my advice with a grain of salt: I don't think the MSF program at Rochester Simon is really gonna swing you any offers from prestige alone but at the least it'll allow you more time to recruit. On the other hand, lateraling after the asset management firm isn't a sure thing, but I've definitely seen people make the move into boutique banks if you're dead set on banking right away. Also, I'm one that would be against taking on more debt for a program that doesn't sound like a for sure slam dunk to helping you get a banking offer. I would highly suggest reaching out to faculty in the program and alumni that have possibly moved on to MM banks and begin networking and also getting their opinion on how easy the transition was. If you can't find more than a handful of alumni to do that with, then there's your answer.
If you ultimately want to be in the HF space I think experience here will be much better. I don’t think the msf will really differentiate you, especially since it isn’t an amazing place (don’t get me wrong, mostly from alumni presence, etc).
The way you describe the firm and the people it sounds like you’ll learn a lot. Additionally, if this is a well respected firm, your colleagues should have strong networks and be able to help if you decide to move on later on in life.
If it were me, I’d start my career, learn (in a field directly applicable to HFs), and enjoy the opportunity.
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