Hi Monkeys - appreciate your advice on the below.
Situation:
I am currently a senior analyst at a BB. Through hard work and dedication, I have been able to build a sort of "special relationship" with my group head. He puts me on the deals that he thinks represent the best learning opportunity, he doesn't put people in the middle between him and I to ensure that I learn faster, he strongly fights for me at year end, he introduces me to important people within the bank to build my network, etc. In essence, the ideal situation for any junior eager to learn (with the counterparty being that he makes me work harder than any other analyst, but that is fine at my age particularly as it is for meaningful things).
Since I joined IB, my goal has been to move into PE as I have had the chance to try it before through internships. I have always been focused on a small set of PEs, with one of them as my dream spot. I have been in touch with HH for over 6 months now and I have to say that traction has been quite limited (I have interviewed at only two places). By some sort of miracle, I have been able to start interviewing at my dream spot. I have passed a few rounds and I am essentially in the middle of the process.
It turns out that my group head is super well connected with partners at my dream spot. He regularly plays golf with one of the top heads, he has done various successful deals with this PE, etc.
Question:
Should I tell my group head that I am interviewing at this place?
Considerations:
Frankly I would love to be able to tell him. First because there is a chance that he would be able to help me secure the position. If he decides to help me, I am sure his recommendation will have power. Second because he doesn't know I am willing to move. I am sure he will be sad once I tell him that I don't want to stay in IB, and more so if he learns it at the same time as I give him my notice period.
On the other hand, telling him would be taking substantial risks. I don't think he would do so, but there is a remote chance that he feels betrayed and decides to kill my chances at the said fund. I am also about to receive my bonus (we are in the period between announcement and payment) so I could risk to say bye bye to it. We have a busy year ahead so losing "experienced" firepower would be detrimental to the group.
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If I wait, the pros above disappear because the process will be finished by the end of the month.
Thanks in advance and apologies for the rather long post.
Nobody here knows how he will react better than you, unfortunately. If he has been investing time and training in you it's because he sees a future for you in IB, but given the nature of the industry I can't imagine he would be shocked to learn a star analyst wants to move to PE.
Personally I'd wait until I was interviewing with one of the people at the PE firm your boss golfs with, then mention that you'd be ok with the interviewer contacting him about your candidacy, after you have a chance to give him a heads up
.
I hope you land the job, and that it's what you expect. Good luck.
I'd wait until you actually interview with their most senior guys. Until they are close to giving you an offer they don't get involved and odds of them asking your boss are slim, while chances of striking out are material
If he as close to the PE firm as you say then there is a good chance they will contact him (if they haven’t already) to understand your performance within your current company.
Rest of the situation is pretty tough but if it’s your dream job than hard not to sacrifice the bonus (if need be).
On the plus side, not that you’ll be picking the advisors for some time at the PE firm but your boss would hopefully see that as a positive.
What’s the group’s culture? At my previous banks, MDs are pretty selfish and short sighted on giving analysts intros to their clients. Are there any previous examples of “you” in the firm? I would try to dig them out on LinkedIn.
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