Buy side fam: what are the biggest fundamental differences in the skillsets required of HF analysts and PE associates? For example I’d consider equity research and CDD similar skillsets. Trying to decide which I should learn more about to see if there’s an interest match. Appreciate your answers

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I’d say there’s a good amount of overlap in the core skills and day-to-day. In both jobs you’ll be doing much of the same modeling / analytical work, diligence calls, reading + research, etc. The main difference is that HF tends to be much smaller project teams, more autonomy / self-driven and a greater focus on “being thoughtful” and “having an opinion”. The opposite is generally true of PE - your deal teams are typically 4-6 people and the associate is just managing one or a few of many workstreams - you’re primarily being paid to execute on what a VP or other senior wants to see vs providing a holistic thesis or opinion. PE also has a lot more process management (interfacing and managing lawyers, accountants, bankers, etc.) and depending on the fund strategy / internal structure you may wind up being involved in what are essentially consulting projects for PortCos as well. You also have to decide if you’re a deal junkie / like the more defined deal work or prefer the more open-ended structure of monitoring public equities

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Fairly traditional, I was a PE analyst out of undergrad and moved to HF after my analyst program

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