IB VP to PE

Hi all,

This has been something that I've been wondering for a while. If a VP at a top BB or EB like GS / MS or EVR / PJT / CVP, and they've grinded up since 1st year analyst, do you guys still think it'd be near impossible for them to find a decent PE role as a senior associate at a 1~3bn PE fund? They'd be taking at least 1~2 years of pay cut and seniority cut, esp at an EB, but have 6+ years of solid transaction experience albeit not PE, competing with presumably 2+2 candidates if there's an opening. Outside of if it's worth it for the VP or not, do you still think this is a once in a blue moon type move or an achievable one given a ~1 year recruiting horizon? 

Thanks,

Comments (4)

Most Helpful
Jan 26, 2022 - 1:42pm
Dolla Bill Stern, what's your opinion? Comment below:

WSO makes it seem like if you ever want to make it to buy side, it's on cycle or bust. That's just not accurate. Maybe your first few years that's more true, but if you look at VC and Growth equity, for example, most hiring is off cycle. Whether that's for analysts, associates, or beyond.

Further, look at peoples linkedins. From doing a gazillion "investor bio" (FML) write ups as an analyst, I would argue there are more mid to senior folks in PE or Growth equity that did NOT come in via on cycle and were opportunistic hires.

Network, leverage your relationships from work, and opportunity will arise. Is it gonna be Apollo? Maybe or maybe not. But realize there's a gazillion buy side jobs without the "name brand" that 1) pay on par or slight discount 2) you will learn more from working with non assholes and 3) your lifestyle will be better.

  • VP in IB-M&A
Jan 26, 2022 - 3:38pm

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