MM-y prop shops vs smaller MM
Does anyone have any insight into the MM platform style prop shops like Jump, Tower or Maven? How do these firms compare on opportunity, career progression, comp, reputation? Some of these firms (e.g. Maven) seem to have more fundamentally oriented PMs. Any idea how the roles at these firms compare to the smaller multimanager platforms (e.g. Verition, Centiva etc.)?
Obviously, hard to compare to the large platforms (MLP, Citadel) because of scale, but still seems like the prop firms are looking for PMs to generate $10+ million of PnL which seems like it would compare to entry level PMs at the large platforms. Also I would guess these prop shops offer a clearer path to partnership so you could eventually receive economics on that side as well, instead of only your book carry.
After being at large MM for the past couple of years, it's kind of tiring being treated as a PnL stream rather than a partner or a business builder. Also I've noticed there are some very poor quality PMs and investment professionals that slip through the cracks at MM, probably as a result of the corporate hire and fire recruiting process. Wondering if things are better at a smaller, more nimble firm that still pays close attention to the people they are hiring.
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