Looking to leave IB for good after working as an analyst for a couple years. One of the hurdles I'm looking to get over is taking a huge pay cut. I want a good WLB but I realized I can achieve that with still working max 65 hours and occasionally up to 75.
What are some exits that allow that kind of work life without a huge paycut compared to IB associate I/II/III levels.
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Would consider a LO hedge fund / asset manager / family office.
Also wondering this. Not sure if PE is for me, but feel like it would be tough to go from IB total comp to Corp Dev or something similar total comp
At the analyst level it’s a big cut - won’t be terrible in you’re in tech though
How nicely does it scale tho
Depends on industry and company unfortunately.
i know IB VPs who jumped as managers in Corp dev (lower performer maybe being pushed out) and got ~$200k & know another VP that came in as Director with $500k comp
That was going to be my next question (about timing of the jump / where do they start as). How often does the later jump happen? Is it rare or somewhat common for experienced aso / vp level to jump to manager?
Jumping at associate is typically the worst move. Sweet spot is 2/3yr VP or director
tend to get knocked down a level because corporate roles require managing larger numbers of people. VPs or Director at a bank typically come in at Director / Senior Director in corporate (Companies typically don’t hire external people directly into VP/SVP roles)
Any insight on where/how to look for these roles? How to network?
Leaving banking after 1 year - my corp dev offer is about a 20% discount to what a normal 2nd year analyst would get (excluding this year which has been nuts but I suspect overall comp will come down a bit moving forward as turnover and deal flow normalizes).
20% discount on total second year analyst comp? That sounds solid if the hours are reasonable. What was your job search/application process like?
Can I send you a PM?
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As previously mentioned, long only AM. Not many seats to go around, but the pay and comp progression isn’t far off from IBD. At the senior level, pay can be higher. The work is supposed to be pretty interest and hours around 50-60.
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