Leaving great PE gig 1-year in due to hating the job
Hi,
Looking for some advice (or encouragement I guess) on my situation. I joined a LMM PE shop less than a year ago, with prior experience of 3 years in IB and a short stint at a small business in a financial role. I have now, due to decent work and a great deal of luck the possibility to head a new sector specific team at the shop. I am already before the official promotion bringing in a few deals we are looking at, and will get a few of our more junior resources (even more junior than me) to work with. So all in all a great position to be in.
However, I have come to the conclusion that a transaction based career is not for me. I have completely lost interest in doing and participating in transactions and can not imagine myself working in this position even a year. I feel exhausted just thinking about a deal, find myself procrastinating most of the day, get anxiety when new work lands on my desk, and just in general have grown to despise the day-to-day within PE. This has lead to some serious anxiety and almost panic-attack states at times when the stress has been at it's highest.
I have always wanted to build a business of my own and now have a chance to join a small business through some connections and by a stake in it. The business is however very small (just above 5 million dollars in revenue) and my income would decrease drastically. Yet I find myself thinking about this all day everyday.
With limited years of finance experience, I would shoot my potential finance career in the knee by doing this, but at this point I don't feel I would ever want to go back.
So, should I stick with this opportunity and wait for the official promotion, or go with the risky long-term dream?
For me it would depend on the prospects of the small business. Can it thrive in this environment? Is the team truly talented (and people you'd enjoy working with)? If no, hang on to the great gig you have, ride out the pandemic and live your dream in 18 months.
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