Recently heard that staying in banking to VP and then exiting can offer quicker career progression. What kind of exit opps are available at the Vice President and Managing Director Level?
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Would this be a risk worth taking?
Know a VP from a top MM shop (Jeff/Blair/Rothschild) that exited to be VP at a MMPE fund. The interesting part is he went to a firm that usually requires b-school for the associate->VP promotion, but on the IB side he went A->A->VP so he actually ended up skipping the b-school and was ahead of where he would have been if he exited to PE after his analyst stint. Don't think this is super common, but it worked out for him.
How common is it for IB associates to jump to PE? I hear about analyst on-cycle recruiting, but never about what happens to the associates
Probably more common than this forum makes out, but much less common than expected. You have both MBA associates and then A2A that can both potentially make the switch. The only kicker is if you make $250K+ then a lot of MMPE are not going to pay a PE AO1 that. so with that being said I think a lot of associate may have started to find a sweet spot of hours worked to comp and don't want to take the risk to haircut to comp on a new team they don't know.
Would you have any insight on how receptive SWFs/Pension Funds/Family Offices are to hiring IB Senior Associates/VPs/MDs ? I know traditional PE exits after the analyst years become increasingly difficult, but wanted to know if it was still possible to go the buyside.
More likely than traditional PE. Can also add other private capital strategies like Growth Equity, Private Debt, Secondaries, Private Capital FoFs etc. Infra-PE also if you have a relevant background. IR roles as well.
Ton of opportunities in M&A, strategy, and finance anywhere from start-ups to public companies, typically in very senior roles (varies a lot, but roughly C-level / VP for MDs, VP / Director for VPs)
Shouldn't be surprising, but fewer opportunities in the buy-side, especially for VPs. As you get more senior you become more desirable (given relationships), but obviously fewer open spots and much more opportunistic hires. I don't think there are many people at this level who salivate over the buy-side though...
I would say that if you really want them, there will be buyside opportunities to those who seek them, but people at these levels don’t often seek them out because of two reasons: 1. They will often have to move down in terms of seniority 2. If they are in these roles, they most likely enjoy their jobs to at least some extent and are certainly respected by their colleagues
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