FoF vs. LP

Hi all,

I am looking to move into alternative investment from IB, focusing on fund of PE now but also open to fund of hedge funds. Any insight into how FoF and LP may differ in terms of day-to-day work, pay and career path?

Also on a side note wondering how people may perceive taking a slight step back to start as a junior on FoF side given I have no buyside/fund investing experience? Or is it better to try capital introduction/alternative capital markets for a year then make a switch to FoF investment as associate? Any views would be much appreciated.

My background is IBD corporate finance and Financial Sponsors team at a BB.