Blackstone Alternative Asset Management

Apple Red4life93
Jul 28 76 Comments

Hi! I’m evaluating an offer between BAAM’s Hedge Fund Solutions team as an investment associate and a high growth tech company in SF.

BX offer details:
base: $140k
equity: $75k vesting over 4 years
annual bonus: ~$70k

tech company offer:
base: $120k
equity: $60k vesting in 4 years
I’m aware of BX’s reputation in PE/Real Estate investments but how does this particular division compare? Would I pigeonhole myself in terms of exit opps since this is primarily a fund of fund?

Looking at this as a pre MBA gig and prioritzing challenging/intellectually satisfying work for now. Post school, would like to end up in a growth equity type of role.
Should I not pass the BX offer up given its prestige?

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TOP 76 Comments
  • Autodesk xnxj46
    Having worked in a hedge fund firm, for God's sake go with the tech company! At the hedge fund you will be working with & for bat sh*t CRAZY people. No kidding, I KNOW. Been there, done that. Never going back again. If you value your sanity.....
    Jul 30 10
    • Coinbase idothings
      Sounds like you had a bad experience in financial services. It’s not for some people. It requires a lot of brain endurance, collaboration, creativity, and earned trust to mark your territory and produce meaningful things. For quants that may never even happen (finding alpha). For devs it happens and I know a lot of very successful engineers in the space.

      One bad apple doesn’t represent them all.
      Jul 31
    • T-Mobile / Design 9e72p1nq
      Is the finance world full of sociopathic people or people displaying those tendencies?
      Aug 1
    • Apple Red4life93
      OP
      Do you consider Elon a sociopath? At IBs, PE firms/most high finance jobs just like at big law firms, you’re consistently putting in 70-90 hours (sometimes even more) each week. It obviously takes a certain kind of person to endure that
      Aug 1
    • New
      whatttttt

      New

      PRE
      AQR
      whattttttmore
      Again, not a hedge fund manager. Its a fund of funds manager. No direct experience with investing really.
      Aug 2
    • New
      whatttttt

      New

      PRE
      AQR
      whattttttmore
      Its not even about the hours. Its about what you do and learn. The tricks you’ll learn at BAAM will not be very useful in other contexts. No substance to the work.
      Aug 2
  • Chase / Finance Pv488
    I would definitely go with BX offer. I spoke with an ED within JP while trying to leverage a potential career path and he said always go for established firms because tech can go either way.
    Jul 28 1
    • New
      whatttttt

      New

      PRE
      AQR
      whattttttmore
      Not every part of Blackstone is gold. BAAM is not where smart people go.
      Aug 2
  • Amazon boldergo
    Is it possible for me to land these jobs working as an SDE at Amazon?
    Jul 30 2
    • eBay bsjiska
      I had the same question 🤣
      Jul 30
    • Intel bsbsb
      Maybe not this kind of role but you could def land SWE or even better, Quant Dev roles at hedge funds and trading firms. However, unless you're working a mostly systematic and quantitative fund like two Sigma or Citadel or virtu it's probably not worth the move
      Jul 30
  • Airbnb NotAnAlly
    That's very low base. I hope this isn't in the Bay Area.
    Jul 30 6
    • Airbnb NotAnAlly
      Wow. 15k stock per year.. Assuming the value doesn't tank..

      Fuck that.
      Jul 30
    • Cisco ciscoisluv
      Why on earth would you take a pay cut to work at Lyft?

      I mean this is the nicest way, but have you recently had a head injury?
      Jul 30
    • Apple Red4life93
      OP
      Well I’ve got these 2 offers currently and limited time since my manager and I have reached a consensus that I should look elsewhere and I’m on the H1B.

      So, I’m trying to base my decision on which role would have more interesting work and which one would help with my long term goals
      Jul 30
    • Cisco ciscoisluv
      Oh. If you’re on a PIP do whatever.
      Jul 30
    • Apple Red4life93
      OP
      Not on a PIP but just had some conversations about my role on the team
      Jul 30
  • Apple TheNiceGal
    TC and YOE?
    Jul 30 5
    • Apple Red4life93
      OP
      3.5 YOE total and ~$220K total annualized TC
      Jul 30
    • Twitch isaywords
      Uhh this is pretty important info. You’ll be taking a pay cut to join either company.
      Jul 30
    • Apple Red4life93
      OP
      Won’t be taking a pay cut to join BX; my annualized comp at Apple is $145K
      Jul 30
    • Twitch isaywords
      You just said 220k. Is it 145 or 220
      Jul 30
    • Apple Red4life93
      OP
      Uhh BX TC is $220K; my current TC at Apple is $145K
      Jul 30
  • Microsoft zNKG56
    I would certainly take the Black stone offer as an investment associate. Stick with them for few years and learn the algo that are used for trading, get a hang of how institutions play the game and you can do your own investing business by staying on institutions side in the market
    Jul 30 3
    • Citadel / Eng
      iAmLegend.

      Citadel Eng

      PRE
      Amazon
      iAmLegend.more
      Good luck with that. The algo keeps changing. Not even years, i am talking about months. There is no way you can mimic what the institution is doing coz you don’t see the whole picture anyway
      Jul 31
    • Apple Red4life93
      OP
      Well this particular team either invests in hedge funds or co-invests in hedge fund startups with their own capital so you won’t really be exposed to the algorithmic trades used to benefit off of market movements. The Quant aspect is mainly to better understand industries, specific fund managers etc
      Jul 31
    • Capital One MV60037
      BAAM doesn’t have algo or trading, they work with the HF partners (portfolio companies) arranging deals and have tactical stakes (preferred equity ect, alternative investments)
      Sep 21
  • eBay bsjiska
    What does an investment associate do? Also mba in what field would you do to become an investment associate. It sounds interesting.
    Jul 30 3
    • Apple Red4life93
      OP
      Really depends on what sub-sectors/what industry you work in
      If you’re an Investment Associate at a Hedge Fund vs at a Growth equity firm, your roles are pretty different but at the highest level, it’s a mixture of due diligence on companies/industries/markets, financial modeling, portfolio optimization

      MBA finance is the most common route, but internships/previous work ex are probably more vital
      Jul 30
    • New
      whatttttt

      New

      PRE
      AQR
      whattttttmore
      This isn’t a hedge fund manager. It’s a fund of funds. Totally different business model.
      Aug 2
    • Apple Red4life93
      OP
      Yes, wasn’t insinuating it’s a hedge fund manager, just used those two examples to describe the typical responsibilities of an investment associate
      Aug 2
  • Blackstone noname2019
    Lyft has leniency and grow fast fail fast tendency, while at BX you might not always have that. Depending on what u want to pursue ur MBA in, both the opps can help u out. Besides$$, also think of WLB, work culture and personal growth (outside of work). SF culture is completely opp to what u will see at BX. I agree with Autodesk's response that its not really worth switching from tech first product company. The best place imo for mix of tech and growth equity would b joining a VC firm in Bay area. U being in SF already would def help u with that as there are multiple VC firms at various stages that u can learn and grow at
    Jul 30 2
    • Blackstone noname2019
      Being in Bay area opens so many doors for u to even do some side hustle if u are really motivated and want to do personal dev
      Jul 30
    • Apple Red4life93
      OP
      Thank you! If you’re currently at BX, can I send you a DM?
      Jul 30
  • Salesforce serje
    You need to deduct your new cocaine habit from Blackstone’s TC.
    Jul 30 0
  • New
    whatttttt

    New

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    AQR
    whattttttmore
    I worked in the real estate private equity AND hedge fund industries. I would go to Blackstone PE or RE, but never BAAM. It’s not what you think. Don’t go to that soul killing place. Find something better.
    Aug 2 3
    • BlackRock goethe
      Totally agree. BAAM and PE/RE are entirely different even within BX.
      Aug 2
    • Apple Red4life93
      OP
      Can you elaborate why never BAAM?
      Aug 3
    • Exer Urgent Care dsp0703
      BAAM is fund-of-funds, not direct investing. That space is shrinking and you don't develop transferable business skills.
      Aug 4
  • Amazon que-que
    BX offer for first year is arouns 210k? For associate?
    Jul 30 1
    • Apple Red4life93
      OP
      1st year associates in AM usually have 3+ years of experience as opposed to IB where it’s 2+. It’s a pretty standard offer at BX
      Jul 30
  • BlackRock goethe
    Yes to SF tech for sure, not even close
    Jul 31 2
    • Apple Red4life93
      OP
      Reason?
      Aug 1
    • BlackRock goethe
      Future opportunity set will be better with fintech in sf. At any fund of funds, even at bx, it will be difficult to develop expertise, imo.
      Aug 1
  • Envestnet mQcm76
    Take the BX job for sure. Do your time making good money and the world is your oyster afterwords
    Jul 30 2
    • New
      whatttttt

      New

      PRE
      AQR
      whattttttmore
      Are you joking? The difference in money is not that much. Don’t sell yourself for much a small amount of dough. Go for whatever the best opportunity is always. Sometimes finance has to pay more just to attract more talent because people don’t want these positions anymore.
      Aug 2
    • Apple Red4life93
      OP
      Well the difference in total comp each year is ~$70K so not a small amount but I agree that I should be prioritizing type of work
      Aug 3
  • AIG / Product
    Raging

    AIG Product

    PRE
    Deloitte Digital
    BIO
    Counseling CxOs for AI-first strategy !
    Ragingmore
    BAAM is good for pre-MBA if you aren't Asian. If you're Asian, shoot for the stars through Non-profit game changing gigs.
    Aug 1 0
  • Facebook Dkevin
    Go tech + finance? Fundrise, yieldstreet, cadre, etc
    Jul 31 0
  • Amazon Jefe bejos
    Just curious, what do you do at Apple now?
    Jul 31 0
  • Airbnb NotAnAlly
    Wow. 15k stock per year.. Assuming the value doesn't tank..

    Fuck that.
    Jul 30 0
  • New lFxm70
    I found that it was extremely difficult to transition from finance to tech and you’re much more marketable and much better networks if you go tech to finance. If you want to end up in venture or private equity take the tech job.
    Jul 30 5
    • Apple Red4life93
      OP
      I previously worked in investment banking and hence got the Corporate Strategy/Development opportunity here
      Jul 30
    • Is private equity attractive place to work for tech people? I recently got contacted by private equity firm but I did not feel like moving forward with them. Any experience?
      Jul 30
    • Apple Red4life93
      OP
      If you’re doing investment work at a PE firm, it’s actually one of the best jobs in finance

      If you’re in a back office function for a PE firm like tech/ops then not so much
      Jul 30
    • New lFxm70
      I’m an institutional LP, so I am speaking from a point of view of managers that can raise capital. Also, from meeting with managers for a living and assessing performance. Look at the bios of partners at firms you would want to work at and see how many have had similar roles to the ones you are considering. Your will not grow your network at Blackstone like you will at Lyft and that is critical imho.
      Jul 30
    • Apple Red4life93
      OP
      That’s an interesting point, thank you! Since you’re an institutional LP, this particular team at BX is a fund of hedge funds and FoFs usually seem to get a bad rep in terms of transferable skills to other finance/investment jobs (at least on WSO, other finance forums)

      Thoughts on that? Most common take is that the job is essentially manager selection as opposed to fundamental analysis, unless the fund also does co-investments
      Jul 30
  • Google dallasbulk
    What’s the role at tech company?
    Aug 3 4
    • Apple Red4life93
      OP
      It’s with Lyft’s Corporate Strategy team
      Aug 3
    • Google dallasbulk
      As software engineer or investment associate?
      Aug 3
    • Apple Red4life93
      OP
      As a Strategy & Ops Lead (Junior Manager)
      Aug 3
    • Exer Urgent Care dsp0703
      Surprised at how low Lyft's comp is.
      Aug 4
  • Blackstone noname2019
    I 100% agree on soul killing place. I left within 8 months
    Aug 2 3

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