Am I crazy for wanting to rescind a great prestigious PE opportunity on the east coast to stay in banking another year just to stay on the west coast? Experience in banking hasn’t been horrible and love the west coast but know I would burn a bridge. Asking for a friend...
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Personally I think your life outside work is HUGE factor that cannot be ignored, if you prefer your city, then stay, it's stressful to start afresh in a new place without your friends / family / network
F&F is all in the city I’d be moving to and went to school there. Love the city I’m in because I’m able to be independent
You can always go back to banking if PE doesn't work out. You won't be able to break in as easily into the industry down the line.
Banking not being horrible =/= enjoying the work. Do you like the sell side? Do you like/respect the work that your associates/VPs do? Is b-school a focus? Is your PE offer with a sweatshop that is going to grind your wiener off? I would advise you to think 2-3 moves ahead.
PE is not some holy grail (just look at some of the most recent threads on turnover) but it does give you slightly more optionality than staying in banking.
Thanks - b- school definitely in the cards, and this would be to stay in banking one more year as an analyst then continue to recruit this year. Thoughts?
Ultimately, you have to do what is best for you. You won’t be the first person to renege on this fund and you won’t be the last. It happens a lot more frequently than the “reneging is unethical and you are contractually bound” crowd appreciates but you should still consider the ramifications. Does your bank work with this sponsor ever? Would this get back to your bank and will they care?
All that to say that you should probably do it if you’re sure you want to stay on the west coast but you should be 100% sure. PE jobs are hard to come by and there’s no guarantee you’ll land a west coast role in a year or more from now. The nice thing about PE is you have a built in re-evaluation in 2-3 years after your associate program, where should you want to go back, you can lateral back to the west coast if you want, go to b-school on the west coast, or go to b-school anywhere and recruit to the west coast.
Yes you're crazy, unless you just don't want to join this specific PE firm.
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