I want out. Where to go next?

Based on the most helpful WSO content, here are some potential exit opportunities and insights for someone with your background in Equity Research (ER):

1. Corporate Development / Strategy

• Why it fits: This is a common exit for those looking to escape the grind of ER. It offers a 9-5 lifestyle, better work-life balance, and the chance to work on M&A transactions and capital-raising, but from the perspective of a company rather than a bank.
• How to get there: Leverage your industry knowledge and network with companies you’ve covered in ER. Your expertise in analyzing businesses and industries is highly transferable.
• Looking back: Many find this path rewarding as it allows them to stay in finance but with a more manageable lifestyle.

2. Investor Relations (IR)

• Why it fits: IR roles are a natural transition for ER professionals, as they involve communicating a company’s story to investors, something you’ve likely done in your current role.
• How to get there: Reach out to companies you’ve covered or those in your network. Highlight your ability to understand and articulate financials and strategy.
• Looking back: IR roles are generally seen as less stressful and offer a good work-life balance, though they may lack the excitement of other finance roles.

3. Long-Only Asset Management (LO)

• Why it fits: LO roles are seen as offering better lifestyle and job security compared to hedge funds (HFs). They focus on long-term investments rather than the high-pressure, short-term focus of HFs.
• How to get there: Breaking into LO can be challenging due to limited roles and a shrinking industry. Networking and leveraging your ER experience are key.
• Looking back: Those who make it into LO often appreciate the stability and focus on long-term value creation.

4. Corporate Finance / FP&A

• Why it fits: FP&A roles provide a stable, predictable work environment and allow you to use your financial modeling and analytical skills in a corporate setting.
• How to get there: Target companies in industries you’ve covered or those with strong finance teams. Your ER background will stand out.
• Looking back: Many find FP&A roles fulfilling as they offer a clear path to senior finance positions within a company.

5. MBA and Career Reset

• Why it fits: An MBA can open doors to a wide range of opportunities, including consulting, corporate strategy, or even a complete career pivot.
• How to get there: Top MBA programs (M7 schools) are a common choice for ER professionals looking to transition.
• Looking back: While the opportunity cost and tuition are significant, an MBA can be worth it for those seeking a major career change.

6. Entrepreneurship

• Why it fits: If you’re looking for something completely different, starting your own business could be an option. Your ER experience has likely given you insights into various industries and business models.
• How to get there: Identify a niche or problem you’re passionate about solving. Use your network and financial acumen to secure funding and build your business.
• Looking back: Entrepreneurship is high-risk but can be highly rewarding for those who succeed.

7. Consulting

• Why it fits: Consulting roles allow you to leverage your analytical skills and industry knowledge while working on diverse projects.
• How to get there: Networking and targeting firms that value your ER experience are key. Some firms may require an MBA.
• Looking back: Consulting can be demanding but offers variety and the chance to develop a broad skill set.

Key Takeaways:

• Networking is crucial: Many of these roles require leveraging your existing network, especially with companies or contacts you’ve interacted with during your ER career.
• Lifestyle improvement: Roles like Corporate Development, FP&A, and IR are often chosen for their better work-life balance.
• Challenges: Breaking into LO or consulting can be tough, but your ER experience gives you a strong foundation.

If you’re still exploring, consider reaching out to former colleagues or alumni who’ve made similar transitions to get firsthand insights. Good luck!

Sources: IB Good Exits - Not so much, Breakdown of Post-IB Exit Opportunities, Breakdown of Post-IB Exit Opportunities, Interesting (Post-MBA) Exits from Banking