Why stay at a bank when HFs are so much more attractive?
I'd imagine there's a fairly simple answer to this question, but I haven't yet come across one.
It seems like bank compensation pales in comparison to what one can earn, even at the junior level. That said, it doesn't seem like many juniors are actually making the move from the sell-side to the buy-side. Is there something I'm missing - maybe most traders prefer the job security at a bank relative to a HF, or maybe they want to skills on the sell-side before jumping directly into a buyside PM role?
This is from the perspective of an Analyst; I understand that once you are managing a book, the choice depends upon on the risk you can run and the % of PNL you take home.