Would you leave your job right now?

Sounds like an MBA would really help you if you can get into a good school. IR will give you a good story.

Just bear in mind OP, IR is one of the exit opps that ER analysts are gunning for. Should really speak to a few of them to see whether you're making the right decision, and not moving backwards

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As previously mentioned, many on the ER side want to go to IR. It sounds like you have great exposure to management.

When you say there’s no room for growth, are you looking for increased responsibility, a promotion, or both? Have you talked with your boss about your desire to take on more responsibility or expressed desire to get a promotion?

In corporate roles, the path isn’t always clear. There are often no guaranteed promotions after X amount of time. You have to push for what you want.

I’m in the same boat as you - junior IR(joined out of school) at a midcap where the lean team leads to less visibility into upward paths. Definitely think that from this seat, moving to sell-side in a junior seat is doable, particularly for an analyst that covers you. You’ll know who you want to work for and will likely know when seats open up as people leave to go to the buyside.

How I’m looking at what I want to do for my next step is gain enough exposure to IR (both quarterly experiences as well as unique investor days or transactionary work) before making the leap to sell-side. Echo wanting a greater technical skillset - see if you can gain that skillset by creating your own model on your stock or by getting more involved on the forecasting / corp fin projects at your firm. Overall, this is a very unique spot to see how companies operate from mgmt’s eyes and should give you a solid base to launch off of.

I do understand your frustration. I am in IR too, but only did it after working at big 4, Transaction advisory services.

It is annoying as people think you are the marketing guy while that is not true. your best bet especially you have done it straight out of college is to look for equity research role or do a CFA/MBA, it is easier to exit now then early.

However, I would like to point out many of my friends would die for  a position in IR ! while they are in Research/Asset Management.

Yes, my first day as an intern they blindfolded me, and then proceeded to cum on me. After work, I never heard from them again, nor received payment. I was just wondering, what kind of PE firm is this? And why are we in an alley at 3 A.M?

Hi, I am late to the party but adding my two cents as I also came from a nontarget and worked in public equity IR for 3 years, now working as a PM in asset management (BB bank).

My advice will differ from many others here. My friends in ER at junior/mid levels are pretty much equally unhappy for the same reasons you cite: no internal growth opps unless their senior coverage person vacates their seat. 

For me the CFA does not represent a good return on investment, there are better ways to spend a thousand hours. The MBA is prospectively a good return on investment if you go to a top 4 (or maybe top 10) school. In this path you estimate the current recession will be 2-3 years as many members of the class of 2020 are still without permanent placements. Presumably they still have the pleasure of servicing $300k of debt.

Having now been quite cynical I will pass along the excellent advice I received when I was in your position and similarly minded, which is to think about what you want to do two jobs from now. For your next role you want to reposition to something more growth oriented, but no need to land in ER, HF, IB, whatever. Do that next if you still want to. This mindset will give you the freedom to think less traditionally and take a less linear approach.

Here were the three options I had when making my next move:

1. Client relations manager and a quasi chief-of-staff to the CIO at a MM asset management firm

2. Consulting senior associate at a top public relations firm which was trying to win some investor relations clients

3. Internal move in the finance organization, e.g. to strategy or treasury

I went for (1), where after a year of taking care of the clients which required me to learn about the deals and investments, I joined a few deal teams, eventually joining the investment side of the business. After a few years I started getting recruiting calls (banks, E+F, FO, asset managers) and made the switch to get my comp up to market. I actually think a chief of staff role in any org you want to join could turn into a one step move, and leverages your experience interacting with senior leaders and sensitive topics every day, which is a rare skill for 2 yrs of exp.

To answer the original question, I would leave my job for a better job (same as any market conditions).

Sorry to make it a long one, hope you found value in it.