Public / Private Markets Equity Investing vs Corporate Banking
Moving countries to a big financial hub in this world and have an offer to join a $1bn+ public (L/S equity) / private markets investing shop.
For background, I've done years of BB M&A, private equity investing at a marquee shop and corp dev at a top tier firm and I'm slowly realising that I quite enjoy and am good at all the analytical stuff these jobs require but that I enjoy relationship management much more than that and that I'm probably better at the latter. I'd think that I could be a 9 or 9.5/10 in relationship management vs 7.5-8/10 in the investing/analytical world.
The other thing that really matters to me is WLB. I can't lie, I'm done with doing consistent late night and having to cancel plans. It's important to me to go to dinner/drinks with friends when I like, going to the gym and having my weekends for me without fearing my life is blown apart anytime by a lovely e-mail.
On the investing shop, the fund really likes me and the way I think through an investment idea and ultimately give a recommendation on a stock but I've never done public markets so I'm not sure how good I am and for how long I'd last (being upfront as I know public markets is not a stable career). Being super honest with myself, I couldn't tell you what my special edge is to generate alpha and how that translates into a long, successful career (I know numbers, have good background like everyone else but cooking with water here!). Also, I've been told WLB is good but I'm not trusting this 100% as I've been told the same in my PE and corp dev gigs and have been burned (obviously I didn't have high expectations in PE but you can imagine). Another point for me is that I'm not a die-hard passionate markets lover and public markets was really not a dream or on the radar over the last few years for me. As any person who likes finance, public markets is of course exciting but I wouldn't die from not doing it.
On corporate banking, I've spoken to multiple friends/mentors who have done or are doing CB and they've all told me I'd be an excellent fit given my past experience as an advisor and the client, my good understanding of the product suite (done loads of refi, trade finance, RCFs, FX hedging, project finance at my very messy PE portco) and great ability of building and nurting relationships. I think the lifestyle/WLB also sounds reasonable enough to me and day to day is exciting for me too (at senior assoc / early VP level) and I could see myself doing this for a few years minimum. Pay is also fine and works well for me and I'm also excited about the clear progression forward to D/MD (not having structured/clear upward mobility is something I hated in corporate/PE).
As a caveat, I don't have an offer yet for a CB gig but was put into a process via a connection of mine and have done some tests already. I'm not in a rush with cash runway/visa and can totally not do anything for a few months so I can take my time.
So WSO, what is your honest take on this? What should I do?