NYC IB to Los Angeles PE
I'm starting as a FT analyst in NYC this year and am considering recruiting for a PE position in Los Angeles after my analyst gig or even after working as an IB associate for a couple of years. Does anyone have experience or advice for moving from a NYC M&A group to a PE shop in LA after 3-6 years in NYC? Grew up and went to school on the west coast FYI.
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I personally did not move from NYC to LA (did banking in LA) for PE, but know plenty of analysts who moved across the country for their next gig so it's definitely manageable. While I can't comment on how you would juggle recruiting while working, I think that if you are vocal about your location preference to headhunters it shouldn't be difficult to get opportunities, especially given that you're originally from the area. I would recommend connecting with Carter Pierce, as they manage a lot of solid PE firms on the West Coast.
thoughts on LA banking? How did you enjoy your stint there?
Personally enjoyed LA banking. I think the culture here is inherently more laid back compared to NY (while I had my fair share of 100 hour weeks, don't think it's as hardcore and sharp elbows as NY probably is). The weather is nice, there's lots to do when you're not working, and most of the senior bankers in my office have outdoor hobbies and travel a lot too, which makes it easier on the junior side when they're gone. The LA finance community is small, but I kind of enjoy that aspect and still think there are plenty of excellent opportunities for IB/PE. Not to say that there aren't any negatives (traffic is a huge one, and the stereotypes of the basic people/culture you hear about LA can definitely be true), but in general I'm glad I did my stint here and not NYC.
Thanks for the info! Can you talk a bit more about your experience in banking in LA? For example, what areas did you/most junior bankers live in and go out at night? Also, do you have any experience with how some of the different banks compare?
I think a lot tend to live on the westside -- so around Westwood / Santa Monica / West LA / Brentwood / Culver City. It's close to the beach and close to Century City, which is where a lot of banks are located. I think most people tend to avoid DTLA -- there are some good spots to check out down there but no one really lives in downtown because traffic sucks, it can be dirtier / more homeless people, probably far away from work, and there are plenty of places to go out in SM, Venice, WeHo, etc.
There's a good recent post somewhere that summarized the LA offices better than I could.
https://www.wallstreetoasis.com/forums/los-angeles-ib
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