Tech Sales > Finance (Private Credit) Question - Am I cooked?
Hey everyone,
I’m 26, based in California, currently working in tech sales. I started my career in fintech consulting but moved into sales for the earning potential. It’s been solid overall, but I’ve found myself wanting something more intellectually stimulating.
Recently, I’ve been hearing a lot about private credit, and it’s really piqued my interest. My uncle is the head of business development at a private credit firm, so I’ve been picking his brain a bit, but I’m trying to get a clearer picture of what realistic entry points might look like for someone with my background.
Would it make sense to explore the analyst route, or could a business development role within a private credit shop be a viable way in? And is an MBA essentially required to make that transition?
Appreciate any advice or insight from people who’ve made a similar move.
Also, any book recommendations would be great.
Credit investor’s handbook Gatto
Bump
Rare that PC shops have analyst positions, but some do. BD isn’t really the same concept at a PC fund. BD = originations which are usually people who were senior underwriters and then wanted to start finding new business. IMO you need a solid UW background to be a good originator. Of course, there are always exceptions, especially in the LMM. If you can get in via a personal reference and have an interest in the space, why not pursue it.
The standard path would be IB analyst for 2-3 years on a coverage team or Lev Fin -> associate role as an Underwriter at a PC shop.
Good luck
I am looking to swtich to credit as a long term career, do you think with years of experience at a FOF I could make the swtich into PC or should I try and swtich into banking first.
Depends on your experience. Are you in a front-office investing seat? If so, that will make a switch a lot easier, especially if you have some exposure to credit investments. I would always lean against going to banking unless you have to. But if your experience is more MO/BO or more portfolio management, it could be tricker to end up in an investing seat at a PC shop.
Thank you very much. Would investment banking analyst/associate positions require an MBA? Feel as if I'm somewhat behind.
If you are committed to a transition to finance an MBA at a top program would increase the odds of a move to a BB firm considerably. On the other hand, there is significant opportunity cost from getting an MBA (tuition, missed earnings potential, 2 less years of experience…). IMO if you’re already making mid-6 figs thats a lot of opportunity cost.
If I were you, I’d make a list of the top 100 funds / IBs I want to work at. Then network your ass off to see if there’s a world where you can get your foot in the door. If you talk to people at 10 different funds and they all tell you its not possible to make a move without an MBA, then start networking with IB teams. I’m sure there's a bank somewhere, especially in the MM that would hire you at an Associate level. If you’re really struggling to even see a path where this works out without an MBA, then consider that route.
But I think you have some exploring to do before you have to commit to a path
what does comp in tech sales look like?
Base + Quota = OTE. Depending on position/tenure, can range from 100-150k OTE for SDR positions, 250-350k for Ae positions, and then ENT Ae's make more.
honestly if you are making 250-350 and you like your job do not make the switch
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