KKR/Blackstone vs Point 72/Millennium for a recent grad
Hi,
I have 2 offers - one from the likes of P72/Millenium/Citadel and one from the likes of KKR/Blackstone.
I am recently out of university and both offers are for sort of junior roles (where you are required to have little experience eg 1 year IBD or a few internships). I hate long hours and don't want to spend my youth doing useless work until midnight every day. On the other hand, I don't really know what I want and where I want to be just yet and not sure whether long/short stock analysis is what I want to do for the rest of my life.
Which offer should I choose?
Whatever you do choose make sure it’s 100% from a recommendation from this site.
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Both offers are 70+ hours. What do you like more, going from KKR-> P72 is possible, other way around is unlikely. If you aren’t sure, I’d be PE
What makes you think that both are 70+ hours?
Dude its high finance
Personally would for sure go toward the latter. MM HFs are pretty risky - they say once you go HF, you never go back. Experience and knowledge (accumulated over a long career) are more important than clout for an investing job like that
You can move from PE to HF pretty seamlessly, not so much the other way around
KKR / BX without a doubt. Roles at MM HFs are not prestigious seats and can actually close doors to other funds (Tiger Cubs, etc.) down the line if you're interested in public investing.
HFs have seen large declines in capital, whereas PE has seen the opposite. PE offers more optionality should things change, yet HF jobs aren't quite as transferrable and often end leaving people in a pigeon hole, which is a rough place to be should investors continue to pull capital from HFs.
Also keep in mind PE returns in the next 10 years are going to be quite lower because of all that capital
Anyone else checks their email every 15 seconds hoping to see an interview from bottom tier bank at a bottom-tier group? Then there's kids with offers from PE and HF
To be fair, this is probably some hardo trying to do a prestige comparison and masquerading it by acting like he's really choosing between two real offers. A kid who received both of these offers would be a rockstar and definitely not consulting WSO on this kind of a decision.
Or a troll. “I hate long hours?” C’mon.
I'd go the HF route. Way less boring process work and you still have a highly valuable skillset coming out of a HF. MF PE is pure grinding with very little thought involved
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