So what's your take on these 'exit opps' of an analyst?
When talking with analysts at BBs, I often like to ask what their plans are after their two year contract ends. I'd say 50% of them say they don't know, they're taking this one step at a time, they'll see what comes their way, etc. The other 50% say "probably PE/HF" or "most definitely PE." For those of you who have worked in the industry, which path have you chosen? What about your peers, and what insight can you provide on these different (exit) opps?
- If given the offer, stay as a 3rd year analyst and move up the ranks to be an Associate, and be groomed to be a VP, possibly MD
- Go get an MBA, and join a bank as an Associate
- Go to PE/HF
- Work in Corp Development at F500
- Work for the Government (Fed/Treasury)
- Transfer into different division of a bank (investment management, ECM/DCM --I've heard this happens mainly because of desire of lifestyle change, or change of interest etc.)
- ???
Particularly for PE/HF and Corp Development, could you illuminate on the hierarchy, the dynamic of the corporate ladder, lifestyle, pay, prestige, daily responsibilities, skill sets needed, challenges, etc. How long do most people stay in PE for example, and where do they go after they leave?
(Also, if there are any female bankers/ex-bankers out there, your insight/advice about females in the workplace would be much appreciated. I'm aware that moving up the ranks is tougher in IBD, and what's your take on the other fields?)
Bump. Seems like nobody noticed this thread when it was posted.
I was given a 3rd year offer -- I declined and went into the HF world. From my experience, the most common "exits" after 2 years are:
1) PE (and HF to a much lesser degree) 2) 3rd year analyst (some want to do banking long term and hope to get promoted to associate directly and some couldn't land another job so they stick arond for another year and try the cycle again the following year 3)e Move to another non-ibanking group in the bank 4) Corp Development -- no one really wants to do this. you end up doing this because you couldn't land a PE/HF job and a) you weren't extended a 3rd year offer or b) you hated banking enough that you'd rather do this
Getting an MBA to become an associate is stupid if you have an opportunity to be a direct promote.
pe/hf is the most desired track. once you start actually start banking, you'll see why. i cannot understand why people would want to do it for a long-term career.
I went Associate although I had some PE options (want to leave the possibility of transferring internationally open).
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