Lazard or hedge fund
Hi all,
I am scheduled for a final round interview for an internship with Lazard Asia M and A next week.
And just today I received an email offering me an internship with Halbis Capital, doing work related to their India alpha fund, which is a hedge fund.
Both internships will be part time and undertaken during the upcoming school semester. And I am interested in both hedge funds and i-banking.
So what do you guys think? I definitely can't do both of them, and assuming I am successful in my interview with Lazard, which internship will give me better future career opportunities?
I think the answer depends on what you want to do in the future. M&A or hedge funds?
i'd personally take the Lazard M&A job if i got an offer, but...really...you're almost looking at 2 different careers here. figure out what you want to do.
Interesting Situation; both Lazard and Halbis (being a sub of HSBC) are well established by their own rights.
Though Lazard may not offer you as much international exposure as HSBC - their operations are very unique and would probably provide a more diversified experience than working for Halbis.
If you pass the final round with Lazard, I think that they would give you the best future career opportunities - yet working for HSBC would more thank likely provide Vertical opportunities within the company to other areas of finance Lazard may not have a practice in.
Do you have any idea where you will be physically working for Halbis?
*Remember; we're coming up on the end of the fall recruiting period and internships will be harder to come by.
Hmmm like I said, I have an interest in both areas, which gives me a dilemma. However, when I look at which one will lead to "better future career opportunities", I am leaning towards Lazard atm.
Cos it seems harder to me for: Hedge fund internship -> IB FT afterwards, than Lazard internship -> Hedge funds FT
Is this the case (generally)?
Gatebreaker: I will be based in the Halbis office in Singapore if I do that internship.
I know two friends in the year before me at McGill and another university who joined Lazard. One of them burned out at Lazard M&A NY after one year. He said the hours were really bad, even compared to a BB M&A firm like Goldman, MS, ML! BUT, he also said that Lazard M&A NY has some of the best exit opps on the street. He now works for Oak doing either VC or mezz debt (forget which one) in their San Francisco office.
That being said, HSBC Halbis Partners is an amazing hedge fund. Their annualized return for their India fund is 1000%+ (over the last decade) and it has been one of the WORLD's best performing hedge funds. Plus, being under the HSBC brand name always helps, and its not like its a no-name start up hedge fund like the other 9000 HFs out there. Also, Halbis is one of the few emerging mkts hedge funds to have performed so well. No doubt that if you spend a while at Halbis, every other emerging mkt-based HF will be throwing offers at you left, right and center. While emerging mkt HFs have done well, it's mostly bc of the underlying growth in equity markets in those countries. Halbis, however, has blown the competition out of the water with its returns and is clearly benefiting from both amazing fund managers and amazing underlying growth in India.
This is a really difficult choice.
If you want specialist skills that are difficult to find in the job market (and thus you will command a higher salary) = HSBC Halbis
If you are unsure of what to do in the future, and want an almost unbeatable brand name under your belt that will give you great exit opps = Lazard
This is very true. However, keep in mind that the good times in M&A are not going to lask for ever, and that by the time you start full time (in 2 years), the market is well likely to turn down, which brings two considerations:
In a down markt, will there be enough IB work to keep you going?
The exit options out of IB that are available today will not (at least not in such a magnitude) be available in a down market.
The bottom line here i that you should count for the fact that IB -> buyside may be much more difficult to get in a few years time than today, so if HF is what you think you may want, I would go for it today.
Either way, you're (to an extent) betting on the market.
Good luck.
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I believe so.
Thanks for the considerations brought up. I will have to put some more serious thought into my choice. Btw I will graduate next year and not in 2 years time, so I will start work full time next year.
Does this time frame change the above considerations brought up?
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