Seeking career advice exiting out of IB
Hey WSO! I would love to get the forum's thoughts on what path to take to maximize career fulfillment and interests
A bit about me: I am an incoming analyst at a BB (GS/MS/JPM) who is interested in investing. I enjoy following the markets and spend a lot of time reading the financial news + investor letters + exploring new companies. I enjoy the process of learning new things and how they can be linked to markets and businesses. I am an ardent believer in the Warren Buffett school of thought and want to eventually find myself in a place where I can spend a lot of time thinking about making investment decisions based on company fundamentals.
With on-cycle recruiting expected to kick off shortly after I hit the desk, I am pressed with a decision: Do I pursue the path of PE recruiting, building the required skillsets to eventually enter the public markets, or just sit through the PE recruiting and work towards working straight at a hedge fund or any long-only fund?
I understand that with PE, you get intense modeling experience and a look at various businesses to sharpen one's investing framework. However, based on reading threads on this site, the majority of the work in PE is just focusing on deliverables and cranking out whatever the senior leadership expects rather than doing a lot of true diligence work.
Based on my summer and seeing the analysts at my firm, I think that I will be getting that experience regardless in banking so I don't know if PE will be worthwhile for me. The notion that the grass will be greener on the other side is something that I have been spending a lot of time thinking about and do not know if it is. The main benefit of PE I have thought is better exposure to quality funds but given the current investment results of the firms which recruit from PE, it is not a given of true investment performance. Are the exits to the publics from IB more mediocre compared to PE funds?
I realize that this might be a bit of a longer post but would love any advice! Thanks in advance!
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