Should I just go all into PC?
I interned at a well-known PC firm a summer ago and headed to BB IB. I kept up good relationships with the people there and reached out to HR wondering about potential roles, and it sounds like they are interested in potentially hiring me as an analyst, either out of undergrad or after 1 year of IB.
There's a part of me that wants to try PE / the on-cycle recruiting process, but I probably won't end up at a firm that is equal to the PC firm in prestige. Direct lending is a bit boring, but the amount of deal flow / work-life balance / compensation is a dream compared to IB / PE.
Should I just go all in and not look back?
Based on the most helpful WSO content, your decision should hinge on your long-term career goals and personal preferences. Here are some key considerations to help you decide:
Work-Life Balance and Compensation: If you value a better work-life balance and strong compensation early in your career, the PC firm seems like a great option. Many WSO threads highlight that direct lending roles often offer a more sustainable lifestyle compared to IB or PE, while still providing competitive pay.
Prestige and Career Trajectory: The prestige of the PC firm you interned at is a significant factor. If it's a top-tier firm, staying there could position you well for future opportunities, even if you decide to pivot later. On the other hand, PE recruiting is highly competitive, and landing at a firm of equal prestige might be challenging.
Interest in the Work: While direct lending might feel less exciting compared to PE, it’s important to weigh whether the trade-off in lifestyle and compensation is worth it. If you’re not passionate about the work, it could lead to dissatisfaction over time.
Optionality: A year in IB could give you broader exit opportunities, including PE, HF, or even corporate roles. However, if you’re confident in the PC firm’s offer and see it aligning with your goals, skipping IB might save you from the grind and uncertainty of on-cycle recruiting.
Long-Term Vision: Ask yourself where you see your career in 5-10 years. If you’re drawn to the stability and lifestyle of direct lending, going all-in on the PC firm could be the right move. If you’re still curious about PE or other paths, IB might provide more flexibility.
Ultimately, if the PC firm aligns with your priorities (prestige, lifestyle, and compensation), it might make sense to commit and not look back. However, if you’re still exploring and want to keep your options open, a year in IB could provide clarity and additional opportunities.
Sources: Private Equity shops with the best work/life balance, Why The Grass Isn't Greener: The Private Equity Associate Crisis (PEAC), Investment Banking to Private Equity - 6 Things You Should Know, best job for work life balance?, Q&A: Investment Banking Associate
Idk about yall but in my experience MF PC does not sound like salvation from IB. All the juniors I know were getting absolutely crushed with deal flow + portfolio work.
When do you usually log off for the night?
bump
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