Advice Needed- CD to what?
Hi All - long time lurker seeking some advice. Currently a Corp dev associate at a consulting firm making ~$100 base (limited bonus) with a great WLB (~40 hours on average per week). For background, I joined the firm out of undergrad within FP&A and moved into the role when a spot opened up.
Feeling very under fulfilled from a work/ learning standpoint and from a comp perspective compared to peers in IB/ PE. Could see a path to ~$200k annual in 4-5 years. Has anyone been in a similar position and decided to make the jump to IB/ PE? Or do I have a good gig going on and should take advantage while I can?
Based on the most helpful WSO content, here are some insights and advice for your situation:
Considering a Move to IB/PE:
Compensation and Career Growth:
Work-Life Balance (WLB):
Skill Development and Fulfillment:
Personal Considerations:
Community Insights:
Conclusion:
If you need more detailed advice or personal experiences, consider browsing through relevant threads on Wall Street Oasis for additional insights.
Sources: Is it worth leaving banking if I have it pretty good already, Moving from Asset Management into IB / PE, Where Did You Go When You Realized Banking Wasn't For You?, Who wants a better life? I want to help., Q&A: Strategy consulting Associate Partner offering career advice
You certainly can jump but I'll be honest, it is very difficult and you're unlikely to jump to a firm that will offer you the big numbers you hear from your buddies at BBs and EBs. Odds are that you would be going to MM or LMM bank/firm and making around what you're making now but working twice the hours. That does open you up for lateral opportunities to bigger banks/firms but you still will need to put in the long hours a few years after your peers.
As for staying at your current gig. It is really up to you and how important WLB balance is. If you are feeling unfulfilled, there are probably more active groups that you move to and get more deals done but that comes with additional hours and may not pay all that much more.
What have you liked about you job work wise and wish you did more of?
What have you disliked and hope to never do again?
Those two simple questions will start to chart a path forward and one where you can have a more productive conversation with yourself and others when you look to hop jobs.
One idea which I've seen play out is to move to the PortCo of a PE fund as an M&A Manager of Head of M&A or the like. These can be much more entrepreneurial roles and which can lead to further opportunities within that PortCo (like CFO, etc.), or other PortCo work with that PE. You might also (and this depends a lot on the PortCo and sponsor) be offered some sweet equity as part of your pay package, which could give you access to greater upside in cash terms.
As another user said, however, it's helpful to understand what you like and dislike, and what you want more of (and if part of that is money, that isn't something to hide - it's juvenile to pretend money isn't important).
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