Return to IB or something else?

Based on the most helpful WSO content, here’s a breakdown of your situation and potential paths:

1. Returning to IB

• Pros: You’ve already done it, and it aligns with your ambition for high earnings. IB provides a strong foundation for future opportunities in finance or corporate leadership.
• Cons: The hours can be brutal, especially if you’re planning to start a family soon. Consider targeting a less "sweaty" group or boutique firms with better work-life balance.

2. Corporate Banking

• Pros: A more stable and predictable lifestyle compared to IB, with decent pay. It also leverages your relationship management skills.
• Cons: The ceiling for earnings might be lower than IB or PE roles, and it may not feel as dynamic or ambitious.

3. Corporate Development/Strategy

• Pros: Great for leveraging your consulting and IB experience. It offers a mix of strategic thinking and deal execution, with better hours than IB.
• Cons: These roles can be competitive, and you’d need to be selective to find a company and team that aligns with your goals.

4. PE or HF Investor Relations

• Pros: A fantastic fit for someone with strong relationship management skills. These roles can pay well and offer exposure to high-level investors.
• Cons: Breaking into these roles can be challenging without prior experience in IR or a strong network in the space.

5. PE Business Development

• Pros: Combines deal-making with relationship management. It’s a high-impact role that can lead to significant earnings.
• Cons: Requires a strong network and understanding of the PE landscape. It can also be demanding, though not as much as traditional IB.

6. Private Banking

• Pros: A relationship-driven role with a focus on high-net-worth clients. It offers good work-life balance and long-term earning potential.
• Cons: Building a book of business takes time, and it may not feel as dynamic as other finance roles.

7. Institutional Sales

• Pros: Leverages your relationship management skills and offers high earning potential. It’s a good fit for someone who enjoys client interaction.
• Cons: Sales roles can be volatile and heavily tied to performance.

8. MM Hedge Fund

• Pros: A dream job for you, offering high earnings and intellectual stimulation.
• Cons: Breaking into this space is tough, especially without direct investing experience. It may require a significant pivot or additional networking.

Additional Roles to Consider:

• Endowment or Foundation Investment Manager: Offers a mix of finance and relationship management with a mission-driven focus.
• VP of Finance or CFO at a Smaller Company: Combines strategic leadership with financial expertise, offering a path to high earnings and influence.
• LMM PE Fund: These funds often have better hours and offer carry opportunities, which can lead to significant long-term earnings.

Key Questions to Ask Yourself:

1. How much do you want to cut back on hours, and what trade-offs are you willing to make for work-life balance?
2. What’s your ideal mix of relationship management, strategic thinking, and technical work?
3. Do you have a network or connections in the roles you’re targeting? If not, how can you build one?

Final Thoughts:

Given your goals and background, roles in corporate development, PE business development, or investor relations seem like strong fits. They align with your relationship management skills, offer high earning potential, and provide better work-life balance than IB. If you’re set on returning to IB, targeting a boutique or a group with better hours could be a good compromise.

Sources: 10 years in banking, tech, and consulting, Consulting Exit Opps for Introverts, Confused about my career..., Should I leave IB for my girlfriend, who I want to marry and have a family with?, Why the hell do people work in NYC/SF IBD?