- Currently working in Investor Relations / Fundraising at a PE firm
- Prior experience includes 2 years JPM IB in Consumer & Retail and 3 years JPM CB in Oil & Gas
- Also did an internship with Barclays Consumer & Retail
- Received offers from Evercore (NY), Barclays (NY), and GS (Houston)
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Nothing earth shattering! 1. Have a great attitude, no matter what work comes your way. Some interns have it in their minds that they want to work on a sell side etc. and quite honestly the work that you will likely get is the work the Analyst / Associate doesn't want to do. Do that job super well and they will appreciate you. 2. Work really hard and prove you can take the grind. Don't leave before your Associate or Analyst if you are working on a project with them. When you finish your work, ask them how else you can be helpful if you see them still working. 3. Triple check your work. Actually print your output out and sanity check it. You'll find so many busts this way that you didn't find while looking at your screen. This might be my #1 tip because almost every single intern makes this mistake.
I also did a blog post on my top 10 tips for new analysts / associates https://viewfrommadisonave.home.blog/2019/04/13/10-tips-for-new-ib-anal…</a">here in case you wanted to check it out.
Why the switch to IR? Hours / comp versus IB? Is there a direct path upwards at your current firm?
It was probably 50% lifestyle and 50% passion / interest.
Don't get me wrong, there are still a ton of people who can do a really great job balancing work and personal life while doing IB. I just didn't LOVE what I did, which makes it really hard to dedicate that many hours to something. I did a deep introspection into what my strengths and weaknesses are, what I really wanted in a job, and IR was the perfect fit.
Hours are way better. I haven't worked a weekend in the first 13 months so far. I work about 45-50 hours a week. Can go up on a really busy week, but those are rare.
I did not take a pay cut. Bonuses are all cash vs bulge bracket banking includes stock for Associates. There is an element of equity in PE (carry), but that's on top of the bonus.
There is a direct path upwards at my firm - that's a really great point and something I always advise people about looking into when they are considering making the move into PE IR.
In case you are interested, I did a blog https://viewfrommadisonave.home.blog/2019/04/04/how-i-figured-out-what-…</a">here on how I figured out what I wanted to do post-banking.
I personally did not recruit for a PE investing role. But, I have friends and family who did, so this is just based on the things I have heard from them.
Exit opportunities are just as good in O&G vs C&R. I can't speak a ton about other coverage groups. I think the key thing is just doing a coverage group you are interested in. I saw people get really coveted placements in both industry groups.
Yes, mega funds are realistic if you do energy at a top bank. But, I think you will be pigeon-holed into that sector. My sister did Evercore O&G and is now working at Blackstone in NY doing Energy.