Advice needed: Move into IR early in career

Hi all, I am doing a postgraduate IB spring internship at a very small boutique in Seoul, South Korea. My long-term career goal is to do IR specifically at only an MF, with the aim of eventually becoming head of IR and having the ability and network to raise my own fund. My understanding of the quality of IR/fundraising roles is that it is extremely fund-dependent; I was wondering if anyone has advice on whether to stay in IB for a few years before making the jump, or move to IR early straight away if I secure a gig at a decent shop, given that IR is my end goal anyway. I have a deferred MBA admissions offer at a non-HSW m7; assuming I do not manage to secure a decent IR gig after my current internship, my plan is to spend 4-5 years in IB pre (my current boutique) and post MBA (at an EB/BB) before returning to IR recruiting.

The deal sizes of my current boutique range from USD 250 - 500 mn. The exact responsibilities of my internship are more IR-related than deal related, with almost no technical or modeling work involved. The work scope is to assist in the development of their new FSG business vertical, mainly maintaining the firm’s Salesforce CRM system, identifying potential deals to pitch to investors, assisting the deal team with research and creating PowerPoint investor profiles, and admin work.

To provide context, I am a South Korean national who went to a semi-target in the US for undergrad in a humanities major and worked in a ~USD 500 mn NYC consumer-focused PE firm after graduation in an IR/EA to the CEO role capacity, basically an EA to the Founder role that also assists the firm’s Head of IR with IR grunt work. However, due to work visa sponsorship issues, I had to leave around my sixth month mark and return to South Korea to search for another role. I then landed this IB internship after a long wait as the IB/PE market is much smaller and less developed in South Korea than in the U.S. 

Upon graduation, as mentioned, I was admitted to the two-year full-time MBA program at a non-HSW m7 under the deferred admissions program for college seniors, a conditional admission program that requires college graduates to obtain 2-4 years of full-time work experience before eligibility for enrolment. This is an opportunity that I am factoring seriously into my career plans and trajectory as completing the program would allow me to return to NYC - my ultimate goal - and work in the U.S. without the visa problem coming up again. And also to break into BB/EB IB in NYC if my current IR recruiting plans fail. For internationals wondering, these MBA programs are now certified for the STEM-OPT designation.

For the next 2 to 2.5 years, I am limited to the South Korean and London job market. The UK recently released a new work visa called the HPI that would grant internationals who graduated from a Top 50 uni according to global rankings a work visa valid for two years. Applying for it does not require a job offer so I am aiming to obtain it to broaden my FT job search. I considered the option of aiming to secure a FT return offer from my current boutique IB firm if they extend me one, and then recruiting for NYC BB/EB IB during my MBA. However, I am uncertain whether years of FT IB experience is really necessary for IR if the latter is my ultimate goal to begin with, especially if I can secure a solid offer at a decent fund after my current internship. My best-case semi-realistic outcome for this short-term recruiting goal would be an IR analyst role at a fund like Ardian, CVC, or Permira that is not among the most prominent MFs, unless I get really lucky through networking, or if more funds start to hire more IR people at the junior level in 2024.

I currently have a rather solid understanding of the investment management space but do not have any technical skills (financial modeling/valuation) or live deal experience, though I can self-teach. I also served two years in the South Korean military as part of my country’s conscription requirement for male citizens and aim to leverage my “military veteran” status during recruiting if relevant for diversity hire benefits. Would also appreciate any insights regarding career progression in IR: is it possible to get promoted much faster to senior levels if one’s performance is very strong? To the extent of associate → VP in a year and even VP → Director or to MD straight in two years. Unlike IB or PE where there is a fixed designated number of years before promotion no matter how skilled one may be.

Also concerned about stability of seat and risk of being pushed out or no future growth potential beyond senior associate/VP level. In MF PE investment roles, for example, one has much less control over their fate as they move up at the VP level and beyond due to firm politics regarding carry mechanics and “lack” of space. Getting pushed out in those seniors then seems a major concern for deal-based professionals. After that, getting another gig at that same level would be significantly challenging from what I know, other than MM/LMM PE. As suggested, should this be an important concern in MF IR as well? Was also wondering if anyone knows whether a top MF IR team would be open to sponsoring an MBA for a high-performing IR analyst or associate.

To summarize and to be maximally specific, my overarching long-term career goal is fundraising entrepreneurial capability within the buyside that is attained through a top executive role in NYC MF IR, while taking into account the risks of stagnant career growth beyond the VP level, getting pushed out, and the opportunity cost of what I could have gained instead remaining in IB for 4-5 years through securing a FT return offer from my current boutique and NYC BB/EB recruiting during my MBA, or even becoming a career banker and aiming to make MD one day. Should my immediate short-term goal be to secure a decent FT IR gig after my current six-month boutique IB internship?

Thank you all, and would really appreciate any advice anyone may give.