Working remote - is the grass greener elsewhere?
Ignore title. My LMM PE firm transitioned to remote work during Covid and decided not to go back. No need for an office, small firm.
For two years I have worked here from home. I’m well liked, the fund is performing fine, and I have a steady path for growth. But I make far below market rate comp ($160-170k range), volume is low, and deals are straightforward. And carry is not in the cards any time soon.
Deep down, I’m ambitious and want to succeed long term. I know I could move to a bigger firm for better pay. I’m able to get interviews and I’ve even had offers. But there’s never been a compelling enough reason to make a move.
Going from the comfort of my home and having time with friends and family to five days a week in office seems like throwing away a privileged situation for a risky move. Even a comp bump into the $200s doesn’t feel like enough of a pull.
But I know I’m playing my career safe and stagnant. I don’t often feel pushed to go above and beyond. I’m not developing that edge someone at a more sophisticated firm would get.
I want to hear from both the ambitious types killing it in NYC at big firms and those who value lifestyle over comp. I want to take in different perspectives to see if it’s worth jumping back into the job market. I know in the end it’s my decision, but I think it’s important to get out of my own bubble and hear from other people.
Thanks for obliging, I know I’m crying over an awesome problem to have. Appreciate you all.
I think you will regret not lateralling - it's the easy path that is often the worst for your long-term happiness and development
It doesn’t have to be one extreme or the other- hybrid might be your best option, 3 days in, 2 days wfh
I think you should consider a move, focus less on the relative comp but rather more so on the branding, skill acquisition and network expansion you'd get in a new role. It's cushy but staying at home all the time isn't good for your career development and even if you switch shops for 1-2 years and go through the grinder for a better shop / more prestige, it can pay dividends in the future. Assume you're young and probably don't have any other family building responsibilities quite yet, and it'll get much harder to move as the time goes on and life becomes more complex and burdened with these things.
Would also consider if you have to move geographies (is there something you can find that is "better" locally if not already in NYC or a city hub) and if there's a chance to return back to your current shop if you really can't take it and things go south.
DM me please OP
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