To become an Associate or not?

Hey guys,

I'm in IB right now and have an opportunity to become an Associate. However, I'm planning on leaving in about 6-7 months and find a position in Private Equity. Would prospective PE firms see me being an Associate as negative?

 

How do you see yourself declining the Associate position if offered?

Most PE recruitment happens in second year - but so long as you're not picky about the role you'd be landing in (starting associate), I don't see any reason for it to be a huge negative against you. That said, any reason you weren't able to make the leap in your second year?

 

This is my third year (I'm currently a Senior Analyst.) First two years were as an Analyst at a Hedge Fund and Valuation Advisory. Signed onto this IB position so that I could position myself for PE. My chance would come from me asking to be promoted, not necessarily there being a vacancy (we are a boutique.) Having been averaging almost 100 hour weeks, my MD feels that we should bring an intern on and if he is good, then transition him into an Analyst. That is the reason why I feel right now is a good time to ask to become an Associate (title change wouldn't alter anything in reality, I'm just hoping it comes with a pay raise.)

Thanks

 
Best Response
ap0258:
This is my third year (I'm currently a Senior Analyst.) First two years were as an Analyst at a Hedge Fund and Valuation Advisory. Signed onto this IB position so that I could position myself for PE. My chance would come from me asking to be promoted, not necessarily there being a vacancy (we are a boutique.) Having been averaging almost 100 hour weeks, my MD feels that we should bring an intern on and if he is good, then transition him into an Analyst. That is the reason why I feel right now is a good time to ask to become an Associate (title change wouldn't alter anything in reality, I'm just hoping it comes with a pay raise.)

Thanks

I would just ask for the raise. It get's a little tricky since there is such a defined path in banking / PE. Based on your story I think that going to get an MBA to go to PE may be a better bet. I would imagine it would depend on the PE shop if they would value your HF experience the same as a banking analyst. Just out of curiosity ... why did you not like hedge funds?

 

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