Funded HBS or Hedge Fund

Anony100's picture
Rank: Chimp | 2

If one had a choice between doing an MBA at HBS fully funded, or a place at a top-tier hedge fund with your own book/capital allocation and contractual %, what would you choose and why?

Comments (32)

Apr 27, 2012

Would the choice depend on anything but your own confidence in generating money?

Apr 27, 2012

This is such a retarded question. An elite MBA is a means to an end, not an end in itself. One would pursue a Harvard MBA for any number of reasons. One reason could be to get a PM position at a top hedge fund. If this is the reason, then it doesn't make sense to go through the MBA when the end goal is directly available. On the other hand, if someone wants to pursue the MBA to break into a different industry, then having a PM offer at a top HF doesn't really address that goal.

In my case, I would most certainly take the hedge fund job.

Apr 27, 2012

Hedge fund job assuming you had some skill to back up the opportunity. The HBS guy would likely come in as an analyst, not a PM, and his HBS education would not help him that much with the work. After you work in the industry for a while, the decision would be clear cut.

Apr 27, 2012
Ravenous:

The HBS guy would likely come in as an analyst,

I highly doubt this. Most target MBAs come in as associates or experienced hires from my experience.

Apr 27, 2012
SaucyBacon85:
Ravenous:

The HBS guy would likely come in as an analyst,

I highly doubt this. Most target MBAs come in as associates or experienced hires from my experience.

A lot of HFs don't have an associate level. The levels are Analyst --> PM --> FM.

Apr 27, 2012

humble brag.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

Apr 27, 2012

Do you want to make money or learn about making money?

IB4 Brady with his hardon for "the most kickass two years of your pathetic life."

Apr 27, 2012

Nobody will ever find themselves in such a position. What do you hope to learn from the replies? But to answer the question, of course I would take the HF; most of the HBS class can only dream of getting a job like that.

"Sincerity is an overrated virtue" - Milton Friedman

Apr 27, 2012
OhYeah:

Nobody will ever find themselves in such a position. What do you hope to learn from the replies? But to answer the question, of course I would take the HF; most of the HBS class can only dream of getting a job like that.

LOL JUST LOL. You unpreftigious bros are so clueless. And believe me, if I do get into HBS, my competition will never be other HBS admits who didn't come from a track as preftigious as mine. It would be people like OP, and me and him would smirk at each other and admire our aesthetics when all the bros like us are the only ones getting interviews with all the hedge funds you guys cream your pants for.

Apr 29, 2012
NewGuy:
OhYeah:

Nobody will ever find themselves in such a position. What do you hope to learn from the replies? But to answer the question, of course I would take the HF; most of the HBS class can only dream of getting a job like that.

LOL JUST LOL. You unpreftigious bros are so clueless. And believe me, if I do get into HBS, my competition will never be other HBS admits who didn't come from a track as preftigious as mine. It would be people like OP, and me and him would smirk at each other and admire our aesthetics when all the bros like us are the only ones getting interviews with all the hedge funds you guys cream your pants for.

Ok ok. I only meant that most people will never have to make this choice. I doubt OP is in this position. I don't think someone in that position would come to WSO and say. "What would you choose PM at a HF or HBS?", you won't get a useful reply without giving more info.

"Sincerity is an overrated virtue" - Milton Friedman

Apr 27, 2012

Get both offers, then worry about the decision.

Apr 27, 2012

Doesn't one go to HBS to get a job like the one you mentioned? This question makes no sense to me.

Inb4 Brady describes HBS as the best 2 years of pussy getting ski party traveling years of your life

Apr 27, 2012

I'm pretty sure Brady is dead or something. Hasn't been on here in awhile

I didn't say it was your fault, I said I was blaming you.

Apr 27, 2012

He was actually on a few days ago in- you guessed it- a school thread.

Apr 27, 2012

Lol at all the unpreftigious bros replying in this thread.

I would choose HBS, and a lot of preftigious dudes who leave preftigous HFs to go to HBS have similar opportunities to you. Ignore the short sighted unpreftigious bros replying and telling you it won't be worth it. These unpreftigious beta bros don't understand what a lot of the HBS dudes give up to go there. OP, I know a good number of people who had similar decisions to make, so I'd guess that a number of HBS admits are in a similar position yet still decide to go there. Don't think you're unique or special bro, you ain't. Just another preftigious bro on that preftigious life track.

Especially when you're getting a full ride (how actually? Your current firm paying? Won't that depend on you agreeing to return to them? tread carefully brother). I work at one of the most preftigious HFs in the world, and I know I could easily stay here or go somewhere else on an accelerated PM track, but if I get into HBS, you bet your ass I'm going. I'd even happily pay sticker to do it.

Apr 27, 2012

New Guy,

Can you explain to us why you would still chose to get your MBA at HBS if you're offered a PM position at a fund? What do you gain?

Apr 27, 2012
KarateBoy:

New Guy,

Can you explain to us why you would still chose to get your MBA at HBS if you're offered a PM position at a fund? What do you gain?

- A network with HBS bros on the buyside, HBS bros in senior exec positions, and HBS bros in goverments
- A 2 year break from hardcore striving
- Pedigree so when you're fund raising, the capital raising team can sell you as a preftigious as fuark HBS bro
- Pedigree so that when the HBS bros sitting at the top of the pension funds, and other institutional funds see your fund raising request for a fund, they look at your background, see you had investing experience even before B school, fuarkkk brother, they might just give you a second look
- The realisation that if you're planning to have a long lasting career in finance, 2 fucking years out won't make no fucking difference, brother (and believe me, preftigious bros like myself won't be struggling to get top HF jobs out of b school)

If you're in finance as a get rich quick scheme, then yeah, going to HBS would be a stupid idea if you're already set. But if you're thinking in terms of future benefits and not short sighted ones, you would be stupid to not take it (especially on a FULL FUCKING RIDE. FUARRKKKKKKKK)

Apr 28, 2012
NewGuy:

- A 2 year break from hardcore striving

Looks like somebody's not that preftigious after all.

Apr 27, 2012

Do you think your logic applies to just HBS or the entire M7?

Apr 27, 2012
KarateBoy:

Do you think your logic applies to just HBS or the entire M7?

Just HBS. Not even Stanford (unless you're interested in VC / tech) or Wharton.

Apr 27, 2012

Figured you'd say that. Sent you a PM.

Apr 27, 2012

A lot of short-sighted people on this thread.

Going to business school is an investment. The potential benefits are monetary but not strictly limited to that. Aspects like network, branding, exposure to new areas, social life, etc., are all very valuable in themselves and add to the mosaic of the b-school experience. For what it's worth, there are a decent number of PMs at top hedge funds who go to HBS and Stanford each year. One can assume that these are smart people who know what they are doing, and yet they voluntarily choose to forego their compensation to go back to school. Why? For many they need time to unwind and re-assess where their lives are going, after years of hard work and striving. And yes, they want to enjoy 2 years of being around very smart, accomplished, and interesting people, partying without having to worry about grades or a pressing obligation at work, and just enjoying their extended vacation. Is all of this worth the opportunity cost? For some, no, but for many others, the answer is a resounding yes.

There is no "right" answer to this. Going to business school is ultimately a very personal decision; the factors that go into this decision making process are complex and not subject to a neat formula.

    • 1
Jun 10, 2012

Thanks for all the feedback. It seems most of you were right on one thing, I was stupid to ask this forum. I know most HBS grads would love this job and I don't need HBS to get it.(in fact I will lose this job if I go to HBS and will have to start from the bottom again). It seems its only people like NewGuy who sees this isnt a choice about making quick money (otherwise I stay trading my own book at BB IB and churn out a few bucks every year). Making money is a given. Its about life experience, and being able to do epic things not just in the age 25-35 but also 35-60. So essentially I was asking if there is value in an MBA other than a means to an end. Brady4MVP, thank you for taking the question seriously. And sorry for asking this question in this forum although I can say that this was not a brag (why brag anonymously????) but comments from the likes of IlliniProgrammer actually were quite an ego boost. Thanks!

Jun 10, 2012
Anony100:

Its about life experience, and being able to do epic things not just in the age 25-35 but also 35-60. So essentially I was asking if there is value in an MBA other than a means to an end.

Oh please. You're going to get a lot more mileage out of your money when you try to do "epic things" between ages 35-60 than by having a network of HBS buddies. How would a people who share your risk aversion to the point of needing some old boy's club to fall back on be of any help in getting you to achive "epic things?" Unless going to costume parties and playing beer pong after a round of golf is your idea of epic, you should probably stick to your job.

Jun 10, 2012
GoodBread:
Anony100:

Its about life experience, and being able to do epic things not just in the age 25-35 but also 35-60. So essentially I was asking if there is value in an MBA other than a means to an end.

Oh please. You're going to get a lot more mileage out of your money when you try to do "epic things" between ages 35-60 than by having a network of HBS buddies. How would a people who share your risk aversion to the point of needing some old boy's club to fall back on be of any help in getting you to achive "epic things?" Unless going to costume parties and playing beer pong after a round of golf is your idea of epic, you should probably stick to your job.

It's much harder to do "epic" fun things when you are older. You have a serious job, family, and other obligations. You may have more money, but it doesn't mean that you will have the time or the opportunity to have a great time.

For a lot of these people, b-school is their last hurrah-a 2 year window when they can do party, travel, and have fun without having to worry about other obligations (aside from getting a job). I've talked to many M7 alums, and they all said that b-school was the best 2 years of their lives.

Jun 10, 2012

You're not addressing my point. This guy is talking about having fun between the ages of 35-60, long after HBS would be over. Screw having my "last hurrah" with a bunch of guys I just met and who are all b-school drones. If you can't take a few days off when you're 40+ to go sailing/whatever with your best friends, you're doing it wrong.

Jun 10, 2012
GoodBread:

You're not addressing my point. This guy is talking about having fun between the ages of 35-60, long after HBS would be over. Screw having my "last hurrah" with a bunch of guys I just met and who are all b-school drones. If you can't take a few days off when you're 40+ to go sailing/whatever with your best friends, you're doing it wrong.

You form a pretty close bond with your b-school friends. You see them in class all the time, study together, party together, go on trips together, etc. It's a shorter form of college in that sense.

I'm not saying you can't have fun when you are 40+. But it will not be comparable to the b-school experience due to the reasons I mentioned above.

Jun 12, 2012
Anony100:

If one had a choice between doing an MBA at HBS fully funded, or a place at a top-tier hedge fund with your own book/capital allocation and contractual %, what would you choose and why?

Long shot but could you possibly ask the HF to defer the offer two yrs and pay for the MBA yourself? Brady is spot on, grad school is not a replaceable experience and I think younger people tend to underrate/underthink it. You are not facing an easy one.

I'm biased bc I went to grad school and loved it and it's been life changing - among other things I met my now serious gf there (grad school is great for meeting mates). Not totally parallel but I turned down a direct promote to associate at a decent boutique bank (think Rothschild/Moelis/Lazard/HL etc.) so I could go. My logic was I'll probably have chances to make the money later in life, but there is not much promise that there will be a magic time machine so I can go back and enjoy a few years of my mid/late 20's hanging out with classmates, traveling the world, and meeting people, with no blackberry and no boss but myself. I was able to transition my career focus a bit too and get an HF internship and some public policy experience so I'm now more on the long-term track I want to be on. Still searching for my permanent job but hey, no sacks no stacks. Near term plan is I'm moving to Rome in July for a few months with the girl (starting her new job w the UN) while I continue the hunt, never thought before I left banking that I'd have a chance to do something like that, and frankly not so certain that I'll be in any huge rush to get back to 'real' full-time work...maybe I'll be a barista for a while or work on a mountainside golf course or a vineyard or something.

Make the right connections and with a little luck maybe you can just start your own fund. One of my best friends (a classmate) was super ridiculously lucky and has a rich mentor from his university days backing him w/ $400 mm. He's young so he's gonna work for a large BB for a while in private wealth mgmt (and btw get commission points on that $400 mm package...little bastard's gonna gross over $400k in his first year...). Our plan if all goes well is that he and I will be running the shop in call it ~5-7 years, he'll do the equities and I'll do the debt. We both need more experience before that can become a reality but I think we're generally on the right track.

Anyway, hope that helps. PM me if you want to chat.

if you like it then you shoulda put a banana on it

Jun 12, 2012
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