Just signed offer letter joining ECM group at a BB..feeling miserable..
So I just got my offer letter to join ECM group at a BB that expired today, and I sent it in. It was my only offer despite numerous attempts at networking along the way. I feel like this offer is worthless and I'll never get to where I want to be (HF). I just see no exit ops at all within ECM and feel honestly like it's going to be almost impossible to get into coverage. Do you guys have any uplifting stories or something to make this easier? All I know is that my only real chance is going to be after 2 years in ECM...I might as well have just went to business school at this point. Do you guys think I should try for Duke MMS? I see this as basically slaving away for 2 years BEFORE I can even slave away for another year and hope to get into a Hedge Fund up in Greenwich at some point after that and finally start to have a life and enjoy myself.
Suck it up and move on. And be happy that you at least got a job.
I know a handful of guys who have made the jump from ECM to coverage. You can always renege if a better opportunity comes up.
How long did this take them?
If you were going to be miserable, why'd you accept?
Generally within a year or two. Some guys had to repeat a year. You can always recruit and renege as well.
The most important thing is attitude. It is definitely possible to switch around if you are a performer and you are strategic about it (it might not be ECM >> IBD >> HF, but that is not the only way to get into a good HF). There is no one path to success.
Isn't that the clear and easiest path to HF?
You are acting like this is a science. Yes, some people go directly from IB, but that is NOT the ONLY way (there are guys at my fund who were engineers before). Per your post you are acting like once you get on the buyside it is all unicorns and rainbows. To be successful you are going to really have to leverage your judgement, network, EXPERIENCE, etc. It is a tough, unforgiving, business but if you are smart and have the right attitude you can try to leverage your time in ECM and use it to your advantage. You will be surprised how much of a difference attitude makes. I am not trying to be a prick here - you are clearly feeling a bit low, but you need to realize that what you want is still in your reach if you work hard and are smart about it.
Getting a job in ECM is an accomplishment, so congratulations and enjoy your senior year.
Laterals from ECM to coverage at another BB do happen at the analyst level. And it's not too hard for the other bank to understand why you want to leave.
I'm unemployed.
Be glad that you have something tangentially close to banking. Work with what you have; I'd kill to be in your spot.
You have a terrible attitude. The move you want is definitely possible. Expecting moving to a hf in Greenwich is the only thing that will make you happy and is the start of the life is stupid - and about a duke mms. You had a chance to get coverage and didn't do it - it is possible you could go to school and end up without the offer you want a second time around. Work and try to enjoy it, other banks will value your ecm experience more than an mms, plus you'll be getting paid instead of paying for school. Some tough love kind of advice that seems necessary.
Enjoy your senior year
Sack the fuck up. Your career is long and not linear. It's not going to be some straight lined path that you have to go through to get to a certain point. I know WSO makes it seem that way and it may feel that way but it's rarely true in practice.
If you have that attitude going in not only will you not have the job you want, you'll also do a poor job and sabotage yourself. I see it all the time with guys who think they are in jobs beneath them. Take a positive attitude; do good work, and keep striving for the job you want.
Grow the fuck up.
I'm pretty sure no person working at a HF ever started their career in ECM...
Chode
Strong correlation between this and the "Too many damn feminine men Today?" thread.
WSO daycare in full effect.
Ya bro, like ECM is a far worse position than all these guys posting their BO to FO transition. Such an uphill battle.
And I love the HF hard on. HFs are cool to tell dumb girls or your mom, but all you have to do is look at performance and longevity of funds to see that many if not most HFs don't laster. Once you go below that high water mark it just makes more sense to close and start a new. It isn't the promised land like people make it out.
Here is a frightening concept. Maybe you might like ECM and choose to stay in banking. Shocking I know.
Either way man up and stop being a bitch.
please renege, there's plenty of non target kids cold calling and networking their way out of a shittier job to steal a job like this
You got a negative attitude. That's what's stopping you.
You gotta get your act together. I'll help you.
Assume this is a joke. OP, what's your screen name?
Please take a step back and realize that there are untold thousands of kids from targets and non-targets alike who would kill for your job. You're going to be in an ECM group, leaving well before your IB peers, and making 6 figures as a 22 year old. To answer your question, no, you shouldn't go for a MSF; you should go blow out with your signing bonus and enjoy yourself.
Troll?
A close friend of mine started in ECM at a BB, went to m7 mba, had offers from HF's but ultimately landed in an Asset Management group with a different BB and loves the job. The path is absolutely doable
Jesus fuck. The longer I spend on this site the more I'm astounded by how absolutely blinded people are about having to follow some set path. The majority of the people who shit on ECM probably don't even work in finance.
Bingo!
OP is definitely a decorated general in the Lord of the Flies Virgin Army
Just another kid who thought he was entitled to 400k/yr before age 30 and is depressed because anything less is mediocre by comparison. Is there a club you over-privileged kids go to get circle jerked about your outlandish expectations or is this a too much TV growing up and being told unicorns shit skittles type of problem?
I believe it's called 'WSO'
delete
You're doomed for life bro
I wouldnt mind working in ECM. Its more mindless but relatively "easier" lifestyle.
you should feel worse than you claim. ECM at BB is basically mcdonalds fry cook
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