Going backwards? IB -> HF -> IB
Goals: L/S equities in my preferred geo and preferred sector, maximize compensation/hr worked
Setup: Currently at a L/S SM <$150m AUM working 80+ hrs/wk in my preferred sector but not my preferred geo (1-2 yoe). There are essentially no MM/SM teams (or no roles available) that cover my sector in my preferred geography. Current compensation is under market. Prior experience is in IB (2 yoe). I am more lenient on geo than sector.
Options:
- An IB assoc role that's in my preferred sector and geography and would pay ~$200k/yr above my guaranteed/likely comp (salary + bonus)
- Look for LO opportunities in my preferred geo and sector
- Look at private investing opportunities in my preferred geo and sector
- Concede on geo, get correct sector coverage and appropriate compensation in L/S equities, wife displeased about new geo
- Other?
Am I crazy or does IB suddenly look like an okay idea again? Thoughts/advice on what to do? Someone tell me I'm crazy.
You are not crazy. HF is not for everyone and can at times be more brutal than banking - you may work less but have to worry 24/7. I know many people in your same situation, realizing that after jumping to buyside for less pay, their lives have not gotten any better.
I think given you work 80+ hrs, which is quite brutal for hf (bc unlike ib, there is 0 downtime), i would look for a different buyside seat or return to ib. Remember that at the end of the day, ib is one of the only growing high finance industries and hours do get better with seniority, it’s not all that bad as others would say. Work yes is less meaningful, but you get paid which is what may matter most at the end of the day.
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