Dealmaker vs Investor
To preface this, I totally understand that the path to MD isn't neccessarily easier compared to the path to PM. While I'm only in my first year, I really enjoy the dealmaking process in IB (even if I hate all the bs work I have to do).
Most of my peers want to exit into PE/HF for their "love of investing" and upside. I have traded before but I don't really fancy the stress of a market that is typically irrational. Has anyone on here done both worlds and would like to elaborate?
I've worked in all of the above: IB, PE, and long-only. Personally left the public market world for the reasons you mentioned. It's a lot harder to be good, and if you're not, you won't make tons of money or have a successful career. Doing deals (either banking or PE) is objectively pretty fun, and if it's in IB you don't even have to care if they're good deals. Long-only was intellectually interesting, but got kinda boring, and it was so frustrating seeing the market do crazy things when I was maybe "right" in my thesis.
I'm happy to expand on anything if you have questions. Interestingly, I've met several bankers who left public markets or PE to go back into IB for these reasons.
What type of personality do you see succeed the most in dealmaking vs investing? Something besides the typical "outgoing does well at deals, introvert nerd does well in investing." Have you ever seen a successful dealmaker in IB/PE come from a technical background (i.e computer science)?
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