After continuously pounding on doors and doing walk-ins, I finally received 2 summer internship offers. My concern is which one to choose in terms of growth and exit?
1. Very boutique HF with 2 MPs, 1 Director of Development, and 2 analysts. Founded in 2012 and currently has about 5 long term investments.
2. Boutique IB with about 20 employees. Founded in 1997 and had numerous transactions last year.
The HF manager told me that he was looking for someone he could mentor and certainly become a partner in the near future. What if it was just a way to sell me the internship?
After speaking to analysts at both firms, they both have a low salary base mid 50s + 20% bonus. (This is in South Florida)
Personally, I would be more interested in the HF opportunity as IB isn't my jam at all. However, I think it depends on how well the HF has performed the past couple years. I assume that since the IB has been around since 1997, they're probably doing alright for themselves. What is the AUM of the HF?
Well that's the thing that is holding me back on the HF. When I asked about the AUM, the HF manager told me that small hedge funds were not required to disclose this information, but instead were required to disclose trading strategies and risk associated with trades. I am not sure whether this is true or not, can anyone bring some light?
HF's don't have to disclose much but they can and should tell you aum if you're considering joining them. Be wary if they don't want to offer that up , it's not as if they can't tell you. Are you in Miami or broward/palm?
I'm not sure either. I would honestly just want a range. The HF could be an amazing opportunity if it turns out to be legit. It could also crash and burn and you'd be left with nothing. Thankfully, this is just an internship so if the HF doesn't turn out to be legit you still have the opportunity to network your ass off for FT. What is the trading strategy for the HF? What is the background of some of the partners?
The HF is pretty much a Macro and long/short. There are only 2 partners, I know that one has 3 years of IB and 8 years of money management.
I would go with the IB for job security reasons as well as exit opps. You will have to do a shit ton of work to get a good FT offer either way, but since the IB has been around longer and probably has decent deal flow, you can probably build a better resume around that and have somewhat better exit opps.
Do the banking one. The HF sounds cool, but it's gonna sound weird in interviews to be talking about being at a tiny shop that does both macro and L/S. Banking will set you up much better in all likelihood as you're guaranteed some good talking points that won't be hard to explain.
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