HF Analyst Exit Opps
If given the opportunity to work at an HF, would I lose that much versatility in exit opps compared to doing 2 years in IBD? Would is still be possible to get into C-level, corporate development, or PE roles?
May 03, 2020
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Hi Prospect in , any of these threads helpful:
More suggestions...
Fingers crossed that one of those helps you.
My personal view (having done both) - banking prepares you better long term but depends on the quality of the HF job.
I’d rather take BB IBD than a small fund but I’d take a brand name fund over MM IBD.
Do you think you would lose anything in terms of exit opps if it is a reputable fund?
It really depends on the fund you go to and the type of work. most HF guys’ end goal is to be a PM. so there’s not much “exiting” to other areas like PE/VC. that said, if you’re at a tiger cub like Viking, you could definitely switch to PE given the type of analysis they do. although usually they take people from PE and isn’t common the other way around. you’d still be taking a haircut given you wouldn’t have deal exposure and the necessary contacts/process knowledge to operate as a VP perse. however if you’re going to a citadel, then you stay in that multi-manager environment. Blackstone isnt going to hire you for a PE role because the analysis overlap between the two jobs are very slim.
I would say take a top banking job first. keeps all your options open and provides a pathway to the top hedge fund roles. very few, if any, truly great fundamental shops take people straight out of undergrad (or even PE at times). the hedge fund that takes you right out of undergrad is never going to be an Elliott, King Street, Baupost, Viking, Lone Pine etc. that would you 100% want to take over banking first.
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By all means if you are in that 0.00001% that gets that shot then fucking take it all day every day. I wasn’t aware but then again I’m no longer in the elité wharton/Harvard undergrad circles. Everyone I know at these places at least did banking first if not PE as well. that’s the most common route for sure but if you’re that one guy that gets in straight out of undergrad then you’re a beast baller and amazing for you. I could never imagine going straight from undergrad to working with a Viking PM and holding my own in pitches; it’s not like these funds have the infrastructure and inclination to train you from scratch but there’s gotta be some animals out there.
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