ECM associate vs M&A analyst

I’m a third year IBD analyst focused on ECM at a MM IB. I’m due to be promoted to associate in a couple of months.

I’m unsure what I want to do long term, unlike most bankers who are set on PE since day 1, I’m a bit more open I find investing interesting so would be happy in any of PE/HF/FoF but also would be open to other opportunities such as a start up.

I realised ECM isn’t giving me the best exit ops with recruiters so I interviewed for an M&A role at another MM IB. They said due to my background of ECM they would only bring me in as a junior analyst rather than a senior analyst / junior associate.

I’m not sure what to do as if I stay at my current role I’d become associate soon (and get a huge pay increase) but continue to have limited exit ops and if I join the other MM IB I’d have to start from ground zero again in my career as a junior analyst in M&A which would also mean a huge pay decrease for the first few years but lead to better exit ops.

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