Advice needed for a BB Associate

Banker007:

Hi all, looking for some advice on what options are out there for me. I spent my analyst years in London, was promoted and moved to NYC 1.5 years ago with the same firm. (product team in a BB European Investment Bank). Ive completed nearly 15 transactions and have gained a wealth of experience during this time. I'm reaching the end of my first associate year and I'm trying to work out what my next step in my career should be.

I broadly enjoy the work I do, in that I'm challenged intellectually in providing solutions but I struggle with some of the day to day management aspects that are part of an associate role. I much prefer formulating and delivering the strategic advice, which responsibility-wise is some years off even though I am now more frequently being given this opportunity. However, long term I'm not certain if I could be satisfied with just being an adviser. Ive also been in this role for over 4 years, which feels like a longtime!

As an individual Im highly driven, like change and I'm very attracted to challenging situations. My annual reviews characterise me as the go-getter, the person who puts unparalleled effort in. People also see me as being direct, which can certainly pose issues in a large beaucratic organisation. I would say Im more motivated by the challenge and responsibility as opposed to money.

So I look at the options available and I find it difficult to determine the correct path forward. Im willing to take risks as im much younger than my peers, however I dont want to throw away a promising career. Most people immediately think PE, but I dont think the grass is necessarily greener on the other side. I dont want to do an MBA, so a two year PE programme doesnt suit me. I also think a PE analyst does essentially the same work I do, but just on the other side of the equation.

Brief conversations with headhunters suggest that given my level and no mba, I dont fit the typical PE associate profile. Im also not sure a boutique advisory role is any better than a bb given what I want. The Visa issue also poses a headache.

Very keen to get honest advice, I really want to progress - im not someone who can stand still and that next step forward is constantly on my mind.

You sound like a European version of me. I am in a similar boat, but now am headed the PE associate route from being a BB associate. Incredibly difficult decision though (esp since I am with the #1 bank in my region across league tables) so always worried as to whether I am giving up the chance to be a big shot BB MD but taking a 2-3 year call that banking will see lot of pain and churn while PE might not. Also I like leading deals and originating them so hopefully will get a chance to do that in my PE shop (a global growth equity fund). Getting a PE role from associate is of course tricky, don't think head hunters are too helpful there, I just networked my way to my PE gig.

Worst case I can hopefully try and get back into IB if I keep my networks open.