What Should I Do? Shitty Boutique Edition
Sup fellas. I currently work as an analyst at a small industry boutique in NYC where I started a few months ago. Before this I worked for ~2 years in ER at a BB. Basically wanted to do banking all along in this particular industry, and it took a while for me to lateral. I spent about a year networking and trying to get interviews - finally I was able to land a spot in my current role and I was super excited about it. I currently make below street salary (75K) and I've heard that bonuses for analysts historically have been somewhat disappointing. With street-wide pay increases, and no foreseeable salary bump here, I will realistically be making well below industry average for my stint at this bank, which kind of sucks.
So that brings me here. My ultimate goal is to exit to a buyside firm focused on the same industry as my bank, but I am not sure it is in my best interest to stay in my current role for the time being. Exits from my current bank have actually been pretty good, with instances of previous analysts exiting to well known PE shops and mid level HFs. The caveat is that most of them transitioned after ~4 years here and I don't want to wait that long making (relatively) shitty pay.
The way I see it is I have two options:
1. Try my hand at buyside recruiting from a virtually unknown bank and just put my nose on the grindstone with networking/technical prep and see how it goes
2. Try and lateral to a EB/BB where there will surely be more buyside opportunity, but I will potentially be starting over (again) as an analyst almost 4 years out of college now.
I know its all relative, and it shouldn't matter, but I just feel like I am falling behind my peers. What yall think? Does anyone have any experience recruiting from a tiny bank? Any advice would be very much appreciated
Why not do both - actively recruit for the buyside and try to lateral at the same time
Why not do both - actively recruit for the buyside and try to lateral at the same time
Lateral. Why not? when we are all 45 whos gonna care if you were an analyst in your mid 20's
Yeah I suppose. I am also slightly concerned about how my resume will be perceived if I move around so much
sounds like ziegler
not ziegler - plenty of boutiques in nyc that pay shitty ;)
Trust your gut and lateral + network. Age doesn’t come up in interviews and as long as you have been employed, you are good. Nothing wrong with working your way up.
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