Advice Wanted: 4 Year Associate Exit Opportunities
Currently at a MM PE fund as a 2nd year associate and being pushed out at the end of the year. Recently got an offer from a LMM fund for another associate stint but hearing the same story that I heard when I joined my current firm (e.g., "this is a 2 year role with exceptional performers considered for promotion, etc.") although this fund currently doesn't have any VPs so visually looking at the org chart there does appear to be more potential for promotion. My question is what would you do if you were in my shoes and if I accepted the offer and was to get pushed out again, what exits would be available? I'm assuming a senior associate or VP seat would be hard to get given I didn't get promoted at either place, but maybe reps and experience matter more than optics?
Some context on how I'm evaluating it: I could stay at my firm for the duration of the year and try to land another offer with better promotion prospects but promotion is never really guaranteed anywhere even in a "partner track" role. I see it as a bird in the hand is worth two in the bush and given that I have an offer in hand during a tough hiring market might weigh my decision more. Also, a full-time MBA program is out of the cards for me would need to do a part-time program while allowing me to work if i were to even try an do it at all.
Reps and experience matter more than optics especially in the MM/LMM. You also don't have to finish the associate program at your next job - you can recruit for senior associate roles mid-stint or towards the end. Bad optics would be if you actually got fired before the end of your first 2-year program and have to explain why you were only there 10 months. The fund not promoting is a very valid reason to be searching. Especially since it's a tough market I would take the job - ideally you are starting the new role when you have a full 2 years at the first shop.
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