Opinions - Analyst 2 - Job Change!

Fellow Monkeys,

I have a dilemma:

Currently an A2 in an EM focused team. I've been offered a position at a well known EM focused PE house, however it has a development angle and therefore I will be taking a hefty paycut (c30%).

Now, frankly I dont want to stay in IB so moving laterally is a no go even though I'd get paid much more. Currently our office is in a real rut and we've seen most of the junior bankers leave - which means I'm left with practically no associate / VPs to really learn off.

The PE house has c$1 billion + to invest with and that is just the team I'm joining. So I'll get plenty of transaction experience in a region that I really want to focus in.

I've spoken to quite a few people within the industry about what they think and I've had a few people tell me that short term remuneration should not be a factor for why I move - even though I'm taking a paycut I'm 24. My mentor (senior MD) however thinks its not wise to specialise so early in my career.

Personally I think this fits in my career development - its a well known name, ill get plenty of deal experience, and I think I'm placed better to go into principal investing in a year or 2 than I would be if I stayed at a bank - however the fact I'm taking a paycut is really bugging me.

Thoughts?!