Is it stupid to leave GS ibanking for GS asset management?
Is it stupid to leave GS ibanking for GS asset management? Pros and Cons for the switch and anyone who has done that, thank you
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It depends on what you're interested in doing. If you want to work in asset management, and you have a good reputation internally, it will presumably be easier to move internally than to a different firm (both from a hiring standpoint and from an internal network / systems perspective). The one drawback, which I think is what you're getting at, is that Goldman is a top name in investment banking and mid-tier in asset management. Ultimately though, that really shouldn't matter. It will be a lot easier to move to a place like BlackRock if you're already in an asset management role.
Depends entirely on the group and role you’ll be in. Plenty of people have switched, but again it made sense as a career move.
From what I've heard, GS asset management is pretty highly respected and very competitive.
I used to work there. Had one friend who went from commodity sales to nat resources IBD to growth equity PIA, so there's no limit to the number of hats you can wear and presumably starting in IBD really makes it easy to gain traction with other areas of the bank.
What do you want to do in your career? What do you want in life? What do you want in your current and/or next job and the one after? What do you like about your current job? If you could change something(s) what would it/they be?
If you can answer these or some of these questions you will probably find the answer to your question or will be closer to doing so. Of course there is the caveat that your answers to these questions may and will change throughout your life, but that's life and it's totally normal.
Good Luck
I’ve gotten the impression places like GSAM are lifestyle jobs. Still pays well but doesn’t have the stress of trading or ibanking.
Isn’t the special situations group housed in GSAM? My understanding is that those guys are studs.
Goldman’s alternatives group is also respected and looks at a lot of deals.
GSAM is pretty ambitious. Depends on the team and role.
GS IB opens up many doors to both PE and HF strategies so I would be very certain that you don't want to go down the HF or PE path before making the jump to a long only group in GSAM. My view is that GSAM's long only products are quite average in both performance and reputation so it would be a step down in terms of personal marketing to make that jump.
Others have mentioned GS Capital Partners and GS Special Situations Group. GSCP is part of the Merchant Banking Division and not GSAM. GSSSG is part of the Securities division and also not a unit within GSAM as far as I am aware. Now, if you had the chance to join one of those teams I would take it in a heart beat as those are great places to be and provide a huge range of exit opps.
If you have ambitions to work at a place like Elliott or a MF PE shop I would stick to IB.
^ for what it's worth, I know someone who started out in GSAM and moved internally to SSG after (though most people come from GS IB). +1 that GSAM credit alternatives is a good place to be.
Since SSG is now taking in external capital and the re-org combining all investing units, will be interesting to see if recruiting for these groups changes.
Will add to this, GS IB has a much stronger brand than GSAM. Not to be condescending but they don't have the best performance record.
If you are interested in AM, look at shops outside of an investment bank (Neuberger, Wellington, Prudential, etc) with a stronger record and keep the doors to HF open. If you are unsure, GS IB is a better launching point to a wider range of industries than GSAM -- take some time to think about what you want and jump when industry isn't a question any more.
It's OK to be on the fence, just make sure you don't have questions like this before you move. PM me if you want to talk further.
Big secret about GS... you will get paid very well in any position in the bank as long as you are good at it (you have BO/MO partners/MDs making millions). There is a considerable compensation difference in the associate/vp level between GS IBD and all other GS FO positions (ER/S&T/GSAM), but MD/Partner level compensation is commensurate if you're bringing business. However, you will be expected to work a lot as you will be getting paid a lot more compared to industry norm. Exit opps are solid across all GS FO positions because of brand name.
Good luck.
These are two different jobs. Do what you are interested in.
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