Seeking Exit Ideas: Associate planning exit before VP promote
Title says it all- have been in the game as a post- MBA Associate since 2020 and the last thing I want is to be promoted to VP in this gig, but my brain is mush and I can barely begins to process exits, open to thoughts:
-I love following business and markets (love reading WSJ, Bloomberg and FT daily)
-Have a kid so need something that can cover NYC expenses as spouse can only offset so much - can take a paycut to a point (like going from $350k/year to $200k is doable)
-Am not beholden to leaving right at bonus time, totally ok to wait til mid-year for the right thing
-Hate financial modeling and corp finance- it’s just not my bag and I have very little interest in FP&A roles
-Don’t necessarily need a pure 9-5 role, don’t mind working long hours/weekends for the right role
-Generally industry agnostic, but cover TMT companies currently
Any thought to sales and trading? Asset management, especially in a more macro role?
Equity research would also check a lot of the boxes (long hours on very predictable timing around earnings, otherwise fairly chill) definitely still modeling but it's more tweaking specific parts of the model for macro and company assumptions than building entire M&A models - not sure what part of it you hate.
Investor relations would be another idea
If I were you I'd email a few associate/VP level people in any interesting roles for informational interviews. Be clear you're not looking for a job from them, just trying to understand what their day to day looks like
Awesome ideas- I have thought of sales and trading, but it always comes across as very much not for post- MBAs, but maybe I’m wrong!
Macro asset management or investor relations are def high on the list- thanks!
Equity research has always felt a little too technical to me, even if it’s just tweaking models initially I’m sure eventually you need to build out a model and have more familiarity with corp finance than I am down for
You could definitely land S&T if you do it internally. A lot of banks give priority to internal transfers (esp now, you likely don't fall under any hiring freeze policies) and IB isn't the same work, but they know you are smart and motivated coming from that division.
I've seen moves like this happen a lot - they'd rather keep and train a good employee in a new role, even if your experience isn't directly relevant and you will need to ramp up
Worth throwing it on your coffee chat list!
Do you want to stay in nyc long term? I’ve always wanted sales and trading but don’t want to be in nyc.
Following because you sound exactly like me. I love markets but have decided I hate corporate finance.
Maybe moving to more of a corporate strategy / management role may make sense. It might require a stop in Corp Dev but that may be an option.
Maybe if you know any headhunters/recruiters they may have some more concrete options for you to try to move away from being more modeling/numbers/pure finance focused.
Just some thoughts that I hope may help. Good luck
This is probably dumb but can’t you still exit to PE if you take a paycut
Definitely doable but it's a big pay cut unless you know for sure you want to see it through long-term. Plus hours / work is so similar to IB, not sure that's enough change for the OP
Isn’t the paycut not alot if you get into a UMM or MF?
My suggestion is roles in asset management--you'd be shocked at the number of filler (but decently interesting roles) there are at these mutual fund shops that pay ~200+
If you like talking to people / sales then wholesaling mutual funds is a pretty unreal gig with pay upside similar to VP in IB. But if you still like the broader macro stuff there are like macro talking heads publishing content and speaking with clients or covering certain sectors (you're not the PM but adjacent, basically like a client facing PM rather than doing the nitty gritty). These jobs are a bit nebulous and may not be obvious but being able to communicate and make market movements digestible are keys
Sales and trading is fking intense. I think you'll have a rough time adjusting as some groups on these desks spend 1-15 min on lunch and have to eat cafeteria food every day. Hours can suck as well. Had a friend who had to be at the desk no later than 6:30am, and clocked out 5:30pm. If you want 8 hours of sleep, you need to be in bed by 8:30pm lol
If you like deals and are a people-person, perhaps a non-investing PE role like BD or IR? Good money and chiller hours, but also probably a step up in travel.
I've always been curious about private credit. Anybody know what that pay progression looks like? Some of the MM lenders we deal with seem reasonably chill but hard to tell
Pay in private credit is solid.
You make 250-300+ all in as an associate and goes up a lot from there. Check the private equity forum for more comp info.
Wow, more than I thought. Are the hours worse than I imagine? Was my assumption it was like 60-70
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