Top fund or Top name?

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Analyst76

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Hi All,

Wondering if I can get advice on whether I should go for 'big' company name or top fund manager? Got two offers, one with a very large mutual fund with great reputaion and another one with a smallet fund but will be working with industry's top name.

Thanks for your advice in advance... By the way this is my first job, I have no prior exprience as an analyst.

Thanks!
 
No question - top name. There are all kinds of people working for Fidelity, for example, who won't get to meet Peter Lynch and other great names at Fidelity. If you can work for Bill Gross or something that would be much better.
 
Thanks, just to clarify we meant here top Fund manager right? rather than top company name?

My instinct lead me that way too as I thought as I am now to the industry I should learn from a great person.
 
Analyst76 Wrote:
-------------------------------------------------------
> Thanks, just to clarify we meant here top Fund
> manager right? rather than top company name?
>
> My instinct lead me that way too as I thought as I
> am now to the industry I should learn from a great
> person.


yeah thats what they meant.

go where you can learn the most. without further info that would probably be the top fund manager. but other factors to consider would be how much day-to-day interaction you would have with the PM. and what type of work they would have you do etc.

i was in a similar situation... but for SS.

had a tough decision: an offer from a #3 ii-ranked team at a top-tier BB, and an offer to work at a #1 ranked team at a very good IB but not the "bulgiest" (<-- i can't think of another way to describe it) of the BBs. in the end i went with the latter... i really thought their research was better, and i liked the team better. in the end who you work for is more important than where you work, at least IMO.
 
Can someone provide me with some "Top name" and "Top fund" please.

Especially in the international equity universe.

Would like to do some research at my own time.
 
Yeah this is a name dropping industry so if you can say you worked with someone that is well known and well respected you will get interviews and offers you might not otherwise.
 
Thank you so much!!! Just to share a little bit more, the top Fund House manages in excess of hundred BN and would let me look at quite a broad markets and also research and is in NY but the smaller fund house manages in the order of 10BN but is based in a smaller Financial city...but with a big name he has consistently won many awards in the last decade. I will join the legendary guy then!

One smaller complication is just that the big fund house offers me twce the salary!! But I think makes sense to focus on the long term and take the pinch now
 
Analyst76 Wrote:
-------------------------------------------------------
> Thank you so much!!! Just to share a little bit
> more, the top Fund House manages in excess of
> hundred BN and would let me look at quite a broad
> markets and also research and is in NY but the
> smaller fund house manages in the order of 10BN
> but is based in a smaller Financial city...but
> with a big name he has consistently won many
> awards in the last decade. I will join the
> legendary guy then!
>
> One smaller complication is just that the big fund
> house offers me twce the salary!! But I think
> makes sense to focus on the long term and take the
> pinch now

2x salary is a HUGE difference. cost of living in nyc will eat away part of that, but definitely not all.

i guess it depends on how money driven you are. you know yourself best. when the novelty of the new job wears off in a year from now, will you be looking to jump ship for an incremental pay bump? if you are... might as well take the higher paying job now. it will look better on your resume.

starting salary is important (maybe not within a 10-15% range but definitely 2x)... while it would be nice if companies paid candidates purely what they are worth, to some degree you comp off of your current base.

i think you are right in taking the lower-paying job. but make sure you are okay with the money issue.
 
if you are a self-driven person go for big company. if you need a mentor then go for big manager. but remember, only self-driven persons can succeed in finance imo
 
Analyst76 Wrote:
-------------------------------------------------------

> One smaller complication is just that the big fund
> house offers me twce the salary!! But I think
> makes sense to focus on the long term and take the
> pinch now


Why not let your team know you have another very attractive offer from another firm, but you would really like to come work for this one because of all the qualities you considered. Maybe they will be inclined to bump up your pay knowing you have another offer?
 
I recommend you go with the big name manager. You can go work for the larger company later in your career but you have an opportunity to learn from one of the greats right now.
 
Thanks, also I forgot to mention that with the big name manager, he is only offering me a one year contract (renewable subject to him liking me) with no bonus and benefits but with the big company they are offering me a permanent position on tope of 2x the salary.....

I have spoken to my family and they think I am nuts to go for the big name! and not go for the big company for more money and security, just in case I don't get my contract renewed....
 
I think that the learning potential is greater at a smaller shop. You tend to take ownership of more detailed aspects of the fund and can, therefore, make a name for yourself.

Willy
 
Analyst76 Wrote:
-------------------------------------------------------
> Thank you so much!!! Just to share a little bit
> more, the top Fund House manages in excess of
> hundred BN and would let me look at quite a broad
> markets and also research and is in NY but the
> smaller fund house manages in the order of 10BN
> but is based in a smaller Financial city...but
> with a big name he has consistently won many
> awards in the last decade. I will join the
> legendary guy then!
>
> One smaller complication is just that the big fund
> house offers me twce the salary!! But I think
> makes sense to focus on the long term and take the
> pinch now



I think the fully discounted NPV of the experience and knowledge you gain at the smaller firm will exceed the NPV of the bigger firm despite the bigger firm's shorter payback period.
 
Takumi -

best fund - julius baer intl (or intl II), others are thornburg intl value, amfunds europac

among best names - george evans (oppenheimer), hakan castegren (harbor)

artisan- good small intl

t. rowe - emerging

good luck.
 
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