6 Years in IB - Trying to Figure Out What's Next
Feeling a little lost and was hoping to get some thoughts from the community as I recently parted ways with my firm and don’t know what’s next. I spent three years as an IB Analyst at a regional boutique in Chicago then landed an Associate role with a tiny boutique on the West Coast focused on a subsector within consumer. Spent the last 3.5 years here and was told there’s not a path to VP. The feedback was essentially there’s a personality mismatch between me and the VP role requirements. Honestly think the firms size and needs played a big factor as well, but that was unsaid. Regardless, I should’ve sussed out what future prospects looked like here a long time ago to avoid this situation.
Now I don’t know what next career steps look like given all my experience is in LMM banking which I don’t love. I got comfortable in this job since it was a lifestyle shop, working 40-50 hours a week, though comp reflected that. I’m willing to work more hours, but would hate to see myself go back to those 80+ hour weeks. What other types of roles could I be competitive for with my background? Seeing some Strategic Finance roles at growth stage companies that look interesting and a lot of those folks have IB backgrounds, but did notice typically from more recognized firms. Also wondering if an MBA still makes sense at this stage, though I feel like I'm at the tail end of the typical window. Any input on realistic options to consider would be appreciated!
Your path just doesn't have the optionality off the bat that your peers at more established MM and up firms do. Unfortunately the reality.
Could you grind, network and find one of those strategic finance roles at a growth company? Absolutely, with perseverance and luck. But the odds favor someone from a more established path.
I don't say any of this to discourage you. My opinion is you should simultaneously push the pace on the strategic finance / corp dev roles you seem to be interested in, but also in MM banking or somewhere more established. You'll probably have to come down on title, but it gives you the experience and chops you won't have seen in LMM / consumer.
Why would he need to come down in title if he’s well into his associate stint. They’re not gonna demand him to an analyst role that’s absolutely ridiculous. At most, they’ll drop them down to an associate 2
Yeah realizing now that I maybe don't have as much optionality as I wish I did. Will still throw my hat in the ring for those positions I'm more interested in because you never know, but won't rule out banks that provide more brand recognition to my resume. If the latter, fully expect to do another year or two at the associate level, but dropping down to analyst would be a hard pass.
Solid plan, won’t know until your try right. Also agreed on the title, don’t let them skint you too hard. Probably best to open with true lateral and see what the feeling is. With deal reps, there is a baseline experience that translates and the rest you can learn.
Any inside on what the "personality mismatch between you and the VP role requirements" is? Or is it mostly something that is specific to your firm like the size you said? If you think it's 50/50 maybe take Rabbits advice about getting MBA.
Don't want to get into too much detail here, but will say while I don't think the feedback was complete BS, I think everyone has their own working styles and I don't doubt I could do the job. In interviews I plan to characterize it through the firm size angle, which I do believe is very real and makes a ton of sense. Also don't think Rabbit was suggesting an MBA, but curious why you think that may be a good idea?
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