MM LevFin -> BB Tech LevFin, or hold out for Private Credit?
Currently ~1.5 years in as an Analyst in a LevFin group at a MM bank. Goal has been to move to the buyside into PC / DL. I've gotten to a few final rounds for MM PC funds, but haven't had one pan out. However, I got an offer for a Tech LevFin group at a BB bank and was wondering if anyone could offer some insight.
1. Is it worth taking the brand/scale upgrade, or stay in my current seat and hold out for a generalist PC role?
2. If I take this, am I siloed in tech / software? Is it a realistic path to do this for 1-2 years and then lateral to Venture Debt or a dedicated Tech PC fund?
3. Thoughts on the overall tech lending sector given the noise around AI disruption and churn risk?
Would appreciate any insight, thanks.
Based on the most helpful WSO content, here’s a breakdown of your situation:
Brand/Scale Upgrade vs. Holding Out for Private Credit:
Moving to a Tech LevFin group at a BB bank offers a significant brand and scale upgrade, which can enhance your resume and open doors to larger opportunities. However, if your ultimate goal is to transition to Private Credit (PC) or Direct Lending (DL), staying in your current role and continuing to target generalist PC roles might be more aligned with your objectives. LevFin at a BB is often seen as a strong feeder into PC/DL, but the tech focus could potentially narrow your exit options.
Siloing in Tech/Software:
Transitioning to a Tech LevFin group could lead to specialization in tech/software, which might limit your exposure to other industries. However, this specialization can also be an advantage if you aim to lateral into Venture Debt or a dedicated Tech PC fund. Spending 1-2 years in this role and then pivoting is a realistic path, especially if you leverage the BB brand and network effectively.
Tech Lending Sector Outlook:
The tech lending sector has seen significant growth, particularly with the rise of AI and other disruptive technologies. While there is some churn risk, the sector remains attractive due to its innovation-driven nature and the increasing demand for capital in tech. This could position you well for future opportunities in Venture Debt or Tech-focused PC funds.
Ultimately, the decision depends on your risk tolerance and long-term goals. If you value the BB brand and are open to tech specialization, the move could be worthwhile. However, if you’re set on a generalist PC role, staying in your current seat and continuing to recruit might be the better option.
Sources: Non-target average student declined BB trading ops offer, now having some second thoughts, Golub Capital type direct lending fund, 2017 Commercial/Corporate Banking Bonuses, Leveraged Finance – 2017 Update, Buy-side vs sell-side path to credit funds
Congrats on Barclays
Bump, gl
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