IB Exit Opps After 1 Year
What exits should I target after completion of Y1 in investment banking? I don’t intend to stay the full 2 years.
Is moving to LMM PE as an associate after 1 or 1.5 years possible?
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Bump
There have been a lot of threads on this topic. Leaving within the first year sets yourself up to have a worse job than what you have now. Why would someone give you a lateral promotion after 1-1.5 years unless it’s a much worse firm?
Stick it out for the first two years or do on-cycle recruiting if that’s an option for you.
Thank you, this makes sense. Considering this, when should I start to do LMM PE recruiting? Some threads in WSO are telling me after Y1 but not sure if that would make sense as LMM PE firms are less likely to have a formal recruiting process and won’t have ‘class of 20XX’ offers
Bump
I’ve seen people rage quit and go to mbb
Best exit is back to your parents’ basement
Desjardins Capital Markets
There are some rare cases where people leave after 1 year do a lateral position in the buy side to become a buyside analyst, but that only happens in extremely hot markets in growing fields at the time (like the PC boom where a bunch of MF's started their PC arms took some IB analysts for immediate starts for instance). Typically no real exits after 1 year except maybe standard corporate stuff, even corp dev/strat stuff is typically after 2 years if you want to enter as an associate.
Life hack: you’ll have to go to a LCOL/MCOL geography but you can get LMM PE firms and other regular exits around the 9 month-1 year mark at a BB. Just say there were “family issues” that require you to make the move and reach out to recruiters for immediate starts/just say “sooner rather than later.”
If you did IB, you probably did a summer or even 2 in finance, and more firms count that as 1.5 years. You’d come in as a senior analyst, run circles around folks, and have a better quality of life. The clock may reset but whatever, your mental health is worth it. You’re welcome.
Thank you so much, this is super helpful! Is this still doable if I’m coming from an MM? Also, I don’t mind working in a LCOL/MCOL area but wondering what comp should for I look if I exit at the 12 months mark (1.5 total YOE including internships)?
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Yes, it’s absolutely doable from an MM! And for the comp, you can search up senior analyst compensation in PE and go from there, or do this: take your base now and account for cost of living. Map out your expenses and big goals, compare NYC to Atlanta for example (or a city that checks most of your boxes), go onto a cost of living calculator, see how much you'd need to make the same compared to the drivers of your paycheck (rent, car insurance, etc), and make a pros and cons list for different cities based on what you want in this phase/different roles based on gaps you need to fill. Then take into account that when you change a job, your pay should increase above inflation. Let me know if this helps! But you would definitely have bargaining power.
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