IBD: Easiest exit ops suggestions?
Hi, I'm really burned out from IBD been doing this for 4 years and I've had enough, I need a career change one where I can have an amazing work life balance, not feel stressed at work and enjoy a chill life.
I'm looking for something:
- very good hours, part time is also fine
- easy work, f**k this intellectually stimulating roles that just leave you stressed out, something low stress, chill and doesn't require much brain power
- Fairly decent pay, I'm fine with taking a pay cut but I do not want to be working on minimum wage
Areas I've already explored:
- IR roles at a PE fund but that still seemed quite intense from what they said.
- Corporate Development but that was still pretty long hours and similar work to IBD with just less pay.
- Placement Agent/PE fundraising: still long hours and intense
Would appreciate if anyone could suggest any ideas? Thanks
Endowments, especially college ones.
Wouldn't that apply to any FoF than?
Lol no, the experience at a Blackstone or Harbourvest type FoF is different than that of a college endowment.
I have similar feelings. Will take chill and repetitive/tedious any day over “intellectually stimulating” especially for similar pay. I don’t have an expert opinion but I would think maybe FP&A fits the bill?
If you're interested in investing, there's a bunch of fairly chill roles in AM distribution that pay ultra well and are chill so long as you are willing to travel a bit. With respect to work-life balance mutual fund wholesaling and AM institutional sales in general is the ultimate finance job hack. Additionally, you can definitely take the job super chill, just don't expect to make a ton of money (but still good money, and can be overcome if you get a strong region).
Since IB is largely sales focused, might be a cool transition
What kind of firms are you talking about? Like asset management firms that sell financial products to hedge funds/sovereign wealth funds and also to FAs?
Yeah mostly Institutional Sales. Think Endowments and Pensions, Sovereign Wealth Funds, Large Corporations (Boeing, IBM, run their own Pensions for example).
Wouldn’t you have to start over as an internal though? Or do you think you could get an external role with enough ib experience?
There are people who moved into these roles externally at my company, but admittedly it's not common. Also, if you move from IB, you probably won't have to start from ground zero, but additionally note that most of the roles in this space consist of relatively senior people.
At my company, most people graduate to these roles after working in the retirement plan services space for my company. That said, with a couple years under your belt, you can definitely break in
Corporate Banking
And if that’s still bit much, could always go downstream to CB groups that don’t lead deals, commercial banking or credit risk adjudication. Good set up for young families. Slightly less hours than cap markets CB, but much less choppy.
Curious to see responses.
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Private credit.
Ding ding ding
Headhunting/Executive Search
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