Hi all,
I am doing IB at a BB and I received a private equity offer for 2019 during on cycle recruiting, and they gave me the option to start earlier in 2019 (January/Feb). I was wondering how leaving banking early (instead of staying my full two years until the summer of 2019) is viewed? Down the road would that be questioned?
Thanks!
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Not a big deal - you'll likely have some senior guys and bosses say stuff like "well you signed on for x years and we expect you to finish your term" but it's your career so you get to make the call. Just know that you may burn some bridges, but it may not even really matter in the long run.
Depending on your bonus cycle, you may just wanna stay the extra 6 months and get that cash though. The other good thing is that you can kind of coast, and usually analysts get 1-2 months or so to dick around between IB and PE, which you may not get if you start early.
Thank you! In terms of B-school and future jobs, they won't look at it poorly? As in he couldn't finish his analyst track?
Not 100% sure but I doubt it, especially if you have a good explanation for why you left early - like why you would want to leave early. Yes, you have the option to do so, but just because you have an option doesn't mean you have to do it.
No you're good....your only real risk is making sure that the PE role is a good fit. If you have to leave the PE role early for whatever reason, then your resume might look questionable with two back to back short stints. So just make sure going into the new role that you'll have no problem lasting there for the next 3 years or so.
Also, on a side note, your MD might be upset but so what. Personally, I don't think too highly of people who are angry because they didn't get to bend you over a barrel for six more months. Keep in touch with an associate or VP who can provide good recommendations in the futures if the MD goes off the rails. Furthermore, you put in 1.5 years. It's not like it was six months. Those associates and VPs that were closer in the trenches with you should have no problem providing a recommendation unless they're complete douche bags.
As someone who left their IB analyst program early, I will tell you that there were no repercussions. MDs were obviously not too happy about leaving as I "signed on" for a 2 year commitment, which is true...but after having me pull multiple all-nighters to build bullshit decks for meetings weeks in advanced, they can go fuck themselves.
In all seriousness though, you need to make the appropriate decision for your future career and not to care much about what other people think. If you want to do private equity, then do private equity.
Leave banking early for Corp. Development? (Originally Posted: 09/29/2009)
I was recently offered a job in the corp. dev. group at a $5bn energy company. These guys are very active in M&A and are looking to significantly increase the size of their business in the next few years.
I am currently a second year analyst at a small boutique. What are your thoughts / advice on leaving banking before 2 yrs and also on pursuing the corp. dev. route?
Thanks
I don't think there's a clear right or wrong answer. If the opportunity at the energy company will provide you with great experience and skills, and positions you well for the things you're thinking about next, there's no reason why you shouldn't seriously consider it. A $5b company is pretty substantial, so doesn't seem like there's company risk. If the group is active, there's probably a good chance you'll get exposed to more at the energy company than the boutique. If you're thinking of going to business school, the energy company is probably better experience than the boutique, and if you love the M&A work at the energy company, it might be easier to continue to rise through the ranks if you don't want to go to business school.
Spend time getting comfortable with the people and the experience you'd get at the energy company. If you get very comfortable with that then I'd say the energy company sounds pretty interesting. More people in this forum should be looking at opportunities like that. It's a better fit and better experience than many will have at BBs or boutiques.
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It sounds like a great opportunity to me and I would go for it. It sounds like the kind of opportunity that would make you an even more compelling candidate for PE/VC and B-School. Plus the opportunity to grow within the firm into a Senior Management role seems attractive too.
Do you mind sharing what the compensation is like for such a role ? Feel free to PM me if you want to keep it private.
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