Hi all, WSO has been a good place for me to both give and accept guidance, and I really need your perspectives on a particular area.
I'm an analyst at a boutique investment bank that specialises in a particular sector (not giving too many details away as my situation is a bit unique) but have been here for less than half a year. I was hired about two grades down during the recruitment, and am currently performing at the associate level (driving client communication, taking charge of models and presentation materials, leading more junior analysts, etc). I suspect I'll be promoted to Associate at the end of the cycle given good feedback from my bosses on my performance so far.
Recently, a senior team member I used to work for at an old firm (PE) reached out to me with an analyst opportunity at a MM PE firm where he holds a C-level position at. I have a great relationship with him and still meet from time to time to catch up, so if I decide to accept it, I'm confident of securing the offer. The thing is, my current IB shop has a pretty good culture and people, and I've a great rapport with my bosses. The only downsides I can think of are no brand name and low comp.
My end-goal is to work (again) in PE, and my bosses have a great CV (one of them used to be a head at a BB IBD) and they could potentially refer me to good shops when I decide it's time to leave, however, this opportunity is knocking right now. Would love to hear your thoughts on this, and thank you for taking the time to read through this.
Current first-year M&A analyst here also looking to move into MM PE. However, I can't see the appeal in leaving your position to join as an Analyst at a PE fund rather than an Associate. Yes I understand it's only been 1.5 years but still, I have friends from EBs such as Lazard and Evercore who after 1-2 years have joined MM PE funds as associates. Is it not possible to negotiate as part of the PE analyst offer that there will be a fast-track promotion to associate within one year providing you meet expectations? Written inside the contract or something formally agreed that there is an opportunity to be bumped to associate soon after joining?
Yeah, you may want to see if you can negotiate a better position for yourself. Also, if you've got that boss pushing you there, it might be interesting to explore a more proper PE recruiting experience and see where you can land. Could help put that offer/possible offer into perspective.
It seems if you're goal is to get into MM PE and this is that opportunity, take it. If the shop and culture fit is right then why not? The time you spend in another IB role could be the time you use to get promoted in the shop to associate anyways, if you like it there.
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