From 350K job to something more fufilling like PE Firm as marketer or investment professional?

What the hell... how can I get your job?

ps Im in the aforementioned challenging type field and would love a chill 400k gig like that

Guys...keep in mind I am 30 yrs old and not fresh out of school. The great news is both of you could probably go out and get one of these positions. If you have a strong finance background and understanding of the capital markets with a flare for sales and working well with others in the sandbox it can be done. I am having a very hard time finding opportunities inside the PE space even with my background. CAN IT BE DONE?

Miscer, what level are you, analyst, associate, VP, etc...

What exactly do you not like about your current job that you think you would find elsewhere?

In general, unless your skills are highly transferable, you should be expecting a pay cut. Be wary of 'the grass is greener' syndrome when trying to make big changes like this.

My concern dickfuld is limited exit opportunities and upward mobility. The positions are very limited and narrow for future career growth and income opportunity. I really believe a PE shop would give you the hands on experience needed to ultimately run the money and make the decisions at a partner level. Granted that is sometime away but the skillset is acquired in PE. I have always felt that if you run the money you are in CONTROL of your own destiny. Looking at the PM side of long only shops are just not that interesting to me, I find the PE side much more challenging with significantly more upside potential. The carry for a VP level in a mid to large PE shop can easily exceed my current income opportunity. Interested in your thoughts and others as well.

Yes, I think you can make the move to PE. And I believe it will be far more mentally stimulating for you. But beware of green grass, there will be a time you pine for your easy days of good money.

To me it seems like a leap to PE so you'll have to have a good plan. First, do you know all the models and stuff cold? Do you know the inside of a business what sort, MM tech, etc? Then figure out the weak points of entry and how the hell you'll get in without a significant pay cut. Others will have far better advice than me as I got my start as a fundless sponsor.

If you've been saving, you could always buyin to a new growth fund. Ive seen GPs band together on less than 1m.

Who do you sell MFs to? Average mom and pop investors?

@3 handicap- no its all advisor and institution sold. The retail advisor then goes out and sells it to mom and pops inside their retirement accounts. Example, if you have a 401k, all those funds did not end up there by accident, it was people in a role like mine who are fighting for shell space inside that 401k and other retirement solutions.

@"DickFuld"- why you say that

Whendoesitend:

Don't get me wrong the pay is great but I just crave to do something more mentally challenging if you know what I mean.

Actually, no.. I don't.

@"Paladin"- As far as the models, no I do not, have not used that stuff in a long time. Its one of those things, if you don't use it you lose it. Would certainly take a refresher before I start selectively applying. I know the Wall Street Prep on here has gotten some decent reviews but I would assume is pretty basic? I would probably go after MM opportunities first, not sure which vertical, but I would assume the competition at a Large PE shop would be a near impossible horizontal jump with my background. Most of the Large PE shops hire within the ranks and if they do go outside its someone within the PE space, feel free to disagree with that comment but that's what I usually see.

@"dim Sum cook"- yes its considered wholesale

Anyone have suggestions on which verticals to go after and best approach for breaking in?

With that pay have you ever considered business school? That way you have an refresh/option on your career and can check out other "mentally stimulating" jobs outside of just PE. Consulting, Corp Strategy, doing actual Asset Management, could be interesting as well.

Just seems that it would be very hard for you to jump into a PE firm (one you would want to be a part of) without even operating experience.

Paladin-Bot back. I think you've got a hell of an uphill swim here trying to access PE which is highly coveted, well protected, insular and elitist to boot. There are thousands of folks more qualified than you are right now and better connected, younger, etc. My personal journey was about 6 years from concept to being firmly in PE. I was an operator and entrepreneur when I decided I wanted to be in PE. I picked my niche, trained on my weaknesses, networked like mad and built a very strong and public track record of success within my region, in my niche of work. And I got super lucky, and it's no gravy train yet. Many days I would take your cushy $350k/year.

An aside but perhaps relevant; years ago my parent's friend went to law school at 47 years old. Everyone said; Geez Bob, you're going to be 50 when you graduate, what the hell are you doing?". And he said, I'm going to turn 50 no matter what, I want to be a lawyer when I do. If that's your thinking, go for it. It takes balls and commitment. Good luck.

I think Paladin is generally right. You may want to target PE firms with a history of financial services investments / verticals. Probably less so financial institutions but any software or services where you could convince a firm you've got some operational expertise or general industry perspective. That may turn you off since it's not far enough away from your current pastures, but in my mind those would be the most logical shops for you.

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bschool is your best bet; still a long shot with it. without it though it will be almost impossible to even get an interview, let alone an offer

you don't have any relevant skills for PE right now...you're just highly paid

If I was in your position, instead of trying to transition into a new field like PE (and dealing with all the bullshit that goes along with starting over), think about what interests you and start doing it. If I had your cash flow I would start buying real estate up and start building a rental portfolio. If you like the idea of investing in businesses, why not focus on buying up good cash generating businesses? There's a decent thread on here about some less sexy businesses. I use to be on the PE train too, but I realized that 1) I just like making money, 2) pretty much every job is horribly boring until you move up the ranks, and it sounds like PE is no different, and 3) there's plenty of things outside work that can make working at a boring (but well paying) job bareable. Far be it from me to stop you if you're set on going into PE though, if that's what you're heart is set on.

Non-sexy Business Thread: http://www.wallstreetoasis.com/forums/gas-station-car-wash-fast-food-ow…

There's also a good thread on life in PE and how it's not always "greener", but I can't seem to find it at the moment.

Okay, one more thought. First off, you're looking for someone to pay you - that's always a tough proposition. Second, the only way you make big money is to be a rainmaker (I guess you know that since you already make a good living in sales). If you can find, close and operate deals you'll do extremely well, if not all three, which parts can you do? And how much value can you bring to someone if you only have one or two of those skills - compared to the copious other people who can already do that? But, if you can do all three consider the comments from @"crackjack" and go do it yourself. Or go find a business, get them in an LOI and then shop that deal around as your ticket into PE. [contact me If it's a highly distressed industrial business]

Said another way, if you; (1) really are an entrepreneur, (2) really do have the chops to make it in PE and (3) have invest-able money - go do it yourself. I can name several people who have built multi-hundred-million-dollar fortunes off the back of one small (non-sexy) company acquisition.

Does anyone verify these claims before putting them on the front page? Like, hey guys, I'm smart enough to make half a million a year, but let me ask a bunch of college juniors on wso what I should do with my career. Lol.

Why not pick a strategy/team at your firm and try to make the transition to a client PM type of role. I've seen a number of folks from outside sales move into these types of roles.

You probably should just move into a mobile home save up for the next 3 years and then buy a lot of real estate and retire.