htmar's picture
Rank: Senior Monkey | 69


I am a year away from Uni graduation , and I am looking for opportunities.
I was lucky to get an internship in a HF (good size, think 2-3 Bn) and I like the team and the strategy. They focus on distressed and corporate credit. I also ''happened'' to get a BB S&T SA offer.

My long term goal is to be a PM in a HF. While it may sound better to take the HF offer and join the buy side directly if I receive a FT offer back I am actually hesitating. Several reasons for that:

First, the good thing about banks is that you have the network and you can more easily relocate (not in the US currently but would like to move there).

The second and most important element though is the asset class variety. I am a bit worried about limiting myself in moving directly to a niche investment area. To be honest even though I like credit I am still hesitating a bit since I also have some interests in macro products. Moreover I am unsure about the transferability of credit trading in general, where do you see the future for credit derivative? I also have to think about the potentiel upcoming slowdown in the market because I am also worried about not having transferrable skills across the investment industry if I specialise into a currently good but niche investment area.

What do you think is wiser to do? Take the ''riskier'' path or choose a more established one? I know that both are risky but at least with the BB there is the name for other employers (I personally don't care about ''BB prestige'' but brands and pedigree are unfortunately quite important in the current environment)

Thank you for your help!

PS: Obviously one of the things I don't like with banks is that there is much more risk aversion and no prop trading anymore so it's getting harder to transfer the trading skills to a HF unlike pre 2008..

Comments (6)

Dec 27, 2018

htmar, have you checked out these or run a search:

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  • Uncertain Networking Situation So I was emailing fund managers and investment banks today as part of regular netowrking and one director at a small 1-3 person shop replied. he said theres no internships available but wants to meet for coffee, is it worth it? ive already met tons of peo ...
  • Megafund SA (uncertain return chances) vs BB SA? Hey guys, Semi-target student here. My goal is to end up in PE (regardless of region). Currently have offer for a solid BB SA (JPM / BAML /CS) in the M&A team. On the other hand, I also managed to snag a summer offer at the Asia HQ of a top megafund ( ...
  • Sure Tier 2 MBA vs. Uncertain Tier 1 MBA Hi everyone, I am currently in the process of applying for MBA programs. I did an international exchange program where I first studied in Europe before going to the US, and ended up graduating with degrees from both universities. I was top ~10% at my Euro ...
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  • Advice for an uncertain graduate Hi Guys, I was seeking some advice as to how to go about getting onto the graduate scheme of BBs in corporate finance. I've previously had interviews for top Bulge Bracket IB SA positions in my ultimate year of university but was unfortunate to not a ...
  • BAML Best Groups & Exit Opps a bit uncertain about exit opps despite having heard good stories, since I only rarely come across ...
  • Uncertain about future career I am newly admitted by Columbia's IEOR Ph.D. program and I want to enter into finance after graduation. But now I have little financial background knowledge nor have I found an internship, as my undergraduate major is math. So what suggestions in my ...
  • More suggestions...

If those topics were completely useless, don't blame me, blame my programmers...

Dec 30, 2018


Dec 30, 2018

I'd go for the DD shop if it's in a solid city. The decision also boils down to how much you want to stay in the US.

Jan 1, 2019

The fund is in continental Europe, think Switzerland, Luxemburg... and the BB is in London. This is also why I'm hesitating, despite Brexit London is still London and I am a bit worried about getting ''pigeonholed'' in the fund with limited network and lack of strong brandname.

Jan 1, 2019

Your concern makes a lot of sense. I guess the only piece of advice I could offer is that a 2-3bn DD fund is super solid and still, in my opinion, a better gig than BB S&T given what you've said. If you can't live without being in the U.S., then S&T is probably still the way to go. If you 're willing to forego that, I think a lot of people would pounce on the HF offer.

Jan 5, 2019