Hello Guys,
During the last weeks I have interviewed for new positions. As Analyst from a Tier 2 Bank I didn't get a shot at the top tier PE Funds, as expected. However, I have the choice between an Associate position at an Elite Boutique, an Associate position at a Small/Midcap PE Fund and a Corporate M&A role at a Top Tier Industrials Corporate.
My assessment:
Small/Midcap PE can be a dead end, very difficult to move to a better position later on.
Elite Boutique: Save choice
Corporate M&A: The team is quite small, however, they are completing 10-15 deals per year. A major multi-billion deal is expected within the next 3 years. I spoke with a "Junior" who joined them some ago with a similar background (2-3 years of experience). He is in charge of his own projects and even negotiates SPAs, just the regular reporting to Head of M&A. I consider this as a great opportunity, where I can get much more responsibility than as an Associate in IBD
I also think that this would also enable me to return to an Tier 1 IB as Vice President after 3 years or have a realistic chance at a Tier 1 PE fund after 2-3 years.
What's your assessment?
What industry are you interested in and what do those firms represent? I think that would be the biggest factor for me outside of compensation and work/life balance.
The industry of the corporate fits my interests. Compensation and WLB are not the main factors for me at this decision (EB, high compensation, lower WLB | corporate lower compensaiton, better WLB). My main concern is my future career progression.
Just my opinion, then, but I'd say go the corporate route. If you're anything like me in IB, you hate working deals for companies in an industry you don't care for. I'd love to switch to corp dev in an industry I am passionate about. As you said, the pay may be lower (at least, it's probably capped), but the work/life balance is probably better.
I think you have to ask yourself what opportunity do you want most? And how will it impact the trajectory of your career? It sounds like the Corp. Dev. position will give you the opportunity to get the experience you want out of the projects you're assigned to and has a clear path to more senior level positions. I would focus on that.
I'd go for MM PE. Dead ends aren't all that bad... I mean technically speaking heaven is a dead end.
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