SM equity L/S trader vs PE CDD (T2)

Based on the most helpful WSO content, here’s a breakdown of the pathways you're considering:

1. IB Business Management to an IB Deal Team:
   Transitioning from an IB COO or business management role to a deal team is challenging but not impossible. It typically requires strong networking and demonstrating deal-related skills. However, this path is less common as IB deal teams often prioritize candidates with direct deal experience or those coming from traditional analyst programs.

2. PE CDD (Commercial Due Diligence) to IB/PE:
   Moving from a T2 consulting firm’s CDD role to IB or PE is feasible, especially if you can leverage your transaction-related experience. Many professionals in consulting transition to IB or PE by focusing on networking and showcasing their understanding of financial modeling, deal structuring, and industry analysis. However, moving to a top-tier IB or PE firm might require additional steps, such as an MBA or lateral networking.

3. Equity Execution Trader to Equity Research or Desk Analyst (Sell-Side/Buy-Side):
   Transitioning from an equity execution trader role to equity research or a desk analyst position is a logical move. Execution traders often develop a deep understanding of market dynamics, which can be valuable in research or analytical roles. Networking within the firm or industry and demonstrating your analytical capabilities will be key to making this switch.

Each pathway has its challenges, but the feasibility largely depends on your ability to network, build relevant skills, and align your experience with the target role. If your ultimate goal is a front-office role in IB/PE/HF, the PE CDD role might offer the most direct exposure to transactions and client-facing work, which could be leveraged for future transitions.

Sources: The Efficient Career Hypothesis: Almost All Jobs Are Priced In, From trader to consultant, A Tale of 3 Offers: What should I consider?, Q&A: 1st year VC analyst (~750M AUM)