Alternatives to PE
Hey guys - so this summer I interned in an M&A group. Unfortunately, found out I didn’t enjoy and was unskilled when it came to financial modelling. Also, I’m not particularly interested in learning which was a big realization for me as my plan for my next few years of my life was to do IB then go into PE. What are some alternative career paths that are more macro less excel detail oriented that would look favourably on a summer in an IB shop? Right now I’m thinking like consulting or moving to a coverage group as I like the deal and client facing aspect to IB. Or maybe even IR for a PE firm? Let me know if you have any ideas lol
Based on the most helpful WSO content, here are some alternative career paths to consider if you're looking for roles that are more macro-focused and less detail-oriented with Excel, while leveraging your IB summer experience:
Consulting:
Consulting offers a broader, strategic perspective on businesses and industries. It involves problem-solving, client interaction, and less focus on financial modeling. Many find it appealing for its variety and intellectual challenges. Firms like McKinsey, Bain, and BCG are great options, and your IB experience can be a strong asset during recruitment.
Investor Relations (IR):
Working in IR for a private equity firm or a public company could be a good fit. This role involves communicating with investors, managing relationships, and presenting the firm's strategy and performance. It’s client-facing and less technical than traditional IB or PE roles.
Corporate Development:
This role involves working in-house at a company to evaluate and execute strategic initiatives like M&A, partnerships, or market expansion. It’s deal-oriented but often less intense than IB, with a focus on long-term strategy.
Coverage Groups in IB:
If you enjoy the client-facing aspect of IB but not the heavy modeling, moving to a coverage group could be a good option. These groups focus on building relationships with clients and understanding their industries, with less emphasis on technical modeling.
Hedge Funds or Asset Management:
If you’re interested in markets and macro trends, roles in hedge funds or asset management could be appealing. These roles often focus on investment strategies and market analysis rather than detailed financial modeling.
Risk Management:
A role in risk management within financial services could be a good fit. It involves assessing and managing financial risks, often requiring a mix of macroeconomic understanding and strategic thinking.
Real Estate or Infrastructure Investing:
These areas often involve more tangible assets and can be less modeling-intensive. They also provide opportunities to work on deals and strategy.
Economic Consulting or Research:
If you enjoy analyzing industries and macroeconomic trends, economic consulting or working at firms like Gartner or Forrester could be a good fit. These roles are less technical and more focused on providing insights and recommendations.
Each of these paths leverages your IB experience while aligning with your preference for macro-level work and client interaction.
Sources: Consulting Exit Opps for Introverts, Lesser known MBA career options? Looking for advice on what to do post-HBS., Losing "The Edge" Post-IB, Q&A: Managing Director at Large Global Asset Manager, Q&A: West Coast Tech IB Analyst
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