Exit ops for BNY lines of business?

Based on the most helpful WSO content, here's what you need to know:

Breaking into Private Equity (PE) from a role at BNY Mellon (BNY) Asset Servicing or Goldman Sachs Controllers is going to be challenging, as neither of these roles is traditionally aligned with the typical path to PE. PE firms generally prioritize candidates with Investment Banking (IB) or Management Consulting experience due to the deal execution, financial modeling, and transaction exposure those roles provide. Here's a breakdown of your options:

1. BNY Asset Servicing

• Pros: BNY Asset Servicing could provide exposure to institutional clients, asset management, and operational aspects of the financial markets. It might offer a better work-life balance compared to Goldman Controllers.
• Cons: This role is not directly tied to deal-making or financial modeling, which are critical for PE recruiting. Transitioning to PE from here would likely require additional steps, such as an MBA or lateral moves into more relevant roles (e.g., Corporate Development or IB).

2. Goldman Sachs Controllers

• Pros: The Goldman Sachs brand carries significant weight, even for back-office roles. Spending time here could allow you to leverage the prestige of the firm to pivot into front-office roles or other areas of finance.
• Cons: Controllers is a back-office role focused on accounting and financial reporting, which is far removed from the skills PE firms look for. While the Goldman name might open doors, the role itself won't provide the necessary experience for a direct leap into PE.

3. Breaking into PE

• From BNY: Transitioning to PE from BNY would likely require a multi-step process. You could aim to move into a Corporate Development role, which involves M&A and strategic planning, and then use that experience to target PE. Alternatively, pursuing an MBA from a top program could help reset your career trajectory.
• From Goldman Controllers: The Goldman name might give you a slight edge in networking, but you'd still need to transition into a more relevant role (e.g., IB, Corporate Development, or even a middle-office role with deal exposure) before targeting PE.

4. Other Considerations

• If you're not "Investment Banking obsessed" and are open to corporate roles, Corporate Development could be a great fit. It offers a mix of strategy, M&A, and operational work, often with better work-life balance than IB or PE.
• If you value client interaction and a balance between office and in-person work, consider roles in Relationship Management, Sales & Trading, or even Wealth Management. These roles might align better with your preferences.

5. Recommendation

• If your ultimate goal is PE, neither BNY Asset Servicing nor Goldman Controllers is an ideal starting point. However, Goldman Controllers might offer better branding and networking opportunities to pivot into a more relevant role.
• If you're more focused on a balanced career with client interaction, BNY Asset Servicing could be a better fit, but breaking into PE from there would be a long shot.

Ultimately, your decision should align with your long-term goals and the type of work you enjoy. If PE is a must, consider how you can transition into a more traditional feeder role, either through lateral moves or further education.

Sources: Breakdown of Post-IB Exit Opportunities, Breakdown of Post-IB Exit Opportunities, Goldman Sachs SLC IBD Overview, Breaking into Private Equity from Banking, https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-private-equity-from-banking?customgpt=1