Growth equity family office VS. BB Tech IBD - How to decide?
Hi everyone!
I am in the lucky position to have received growth equity (family office) and tech IBD (GS/MS/JPM) analyst offers straight from uni. The family office is also pretty well known as it is a LP for many other shops (currently almost $10bn NAV).
My LT goal is to work in growth equity, but I wonder if going to a family office limits options in the future (to other non-family office growth equity shops).
Would be great to have some insight from insiders.
Thank you!
Think of this hypothetical situation: You start of at your BB and 3 months in, you get an on-cycle offer for this family office, would you be happy to accept it? If you answer is YES, then just go with it straight out of undergrad. If your answer is NO, then go with Banking. Also you didn't mention anything about location which makes it difficult to compare if that would be an important factor for you.. Regardless of your decision, you are in a great position, keep up the great work
This is an easy one...if the BB IB Tech offer is for Goldman or Morgan Stanley take either BB offer over the family office. If the BB IB offer is for JPM take the Family office over the JPM offer.
Logic is that GS/MS tech groups place the lights out and you can and will get looks from almost any GE or Buyout fund you'd potentially want as long as everything else checks out (target school, high GPA/SAT's, etc..) JPM Tech IB historically has had much weaker placement than GS/MS ... you most likely can go to GS/MS and recruit for this same family office again.
Lastly, I won't say family offices pigeonhole you but some aspects of your experience maybe limited in comparison to an analyst role at a big GE shop
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This family office is clearly ICONIQ. Thats a top tier name in growth so that shouldnt be discounted but my understanding is that the program doesn't guarantee an associate promotion. It's all sourcing as you might expect. If you can handle the banking hours I would probably go for that because you would have the opportunity to recruit for some other growth/crossover shops that have juniors do less sourcing which, for me, is more appealing as I never understood how juniors should be the ones doing sourcing.
Edit: On the point of it being a family office limiting you, it definitely doesn't if its ICONIQ. The brand is treated like just about most major growth shops in that regard so I don't think the distinction particularly matters.
Came here to say that this is most likely ICONIQ as well. There should be no qualms joining ICONIQ Growth due to it being part of a family office since it is essentially an independent growth equity shop w/in the broader firm. No guaranteed promotes and a lot of sourcing are both true and you won't be as technically adept compared to doing a stint in IB, but if growth equity is the end goal this is a great place to be. If you want do ever want the possibility of potentially moving to buyouts though, that is a different story. Also, a lot of the culture issues you hear about the company do not apply as much to ISP.
Can you not postpone the offer 1 year? I would say do IB. In just 1 year you would learn so much. I work in a growth PE now and yes I definitely like it a lot but I’m glad I came in with the technical foundation I build in IB. However our analyst we hired straight from uni was indeed shit in the beginning but grew very fast and one would think she did IB before
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