If that is the case, you are on a different track

The default track is operations/risk management. If you can do well, and you are good at office politics, it is possible to move directly to other departments. That being said, there are ppl who are very successful following this track ( I think John Thain was from operations).

How about the analyst job in NJ? Is it exactly the type of work you are interested in? Keep in mind that some hedge funds or family offices are not big names but considered very prestigious in the industry. Don't put it aside just because it is a small or no name firm in NJ.