Any Bad IB Analyst who thrived in PE (MMF)
Hey Monkeys,
Just wanted to reach out and ask about transitioning into PE from BB IB as a bad analyst, and if anyones thrived in the succeeding new role.
I am currently in my second year of my IB stint, and quite frankly, feeling really, really burned out. Burned out to a point where whenever associates pings me about some non-material tasks (admin tasks) when I'm multitasking, I get this negative emotion ranging between rage and annoyance. The project oriented work setting of having to update minute details of my daily tasks have been really tiring me, and I'm starting to think that I just suck at multitasking at this point.
I've worked few years in a more structural reporting line (working directly with VP/Director) before going into IB, and I rather like that than having to constantly defend my work the team.
This years evaluation is going to suck, and honestly, I am just not a good analyst at this point.
Bonus: I busted my lower back from trying to put in some exercise during busy season, and I am now diagnosed with herniated disk, so sitting down for longer hours is really painful atm (trying to fix this ASAP)
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I have made past few interviews for a PE Associate role just to get out of IB, and I just wonder if I will be able to thrive in the role. I understand that when DD gets heavy in the execution, you're still going to have fire drills, but based on what I have seen here, it does seem like I can have more control over my working schedule (albeit still being long hours)
Just wanted to reach out to the community before I make a move that I may regret in the future.
I knew a few bottom-ranking IB analysts successfully pivoted to PE, making me feel whether PE is a path / new home for low-performing IB analysts
Idiotic
Someone in another thread said this is likely a bot… answers like this certainly help affirm that.
It's possible. One simple fact is that PE programs have the fortune of recruiting 23-24 year olds vs. 21 year olds in IB. For many people, those few years go a long way in developing technically and honestly learning how to manage themselves effectively. That being said, the best IB analysts seem to continue that trend on to the buyside but I've seen "bad" analysts grow exponentially in PE
It’s a very different job. Some people struggle in IB because you’re routinely producing work no one actually understands or can explain - it’s just mindless formatting and refreshing of back ups. You can have 0 critical thinking, business acumen, or technical knowledge and last a very long time and do very well in IB.
In PE everything is much more deeply based on actual analysis and substantive data. Some people do way better when they actually understand what is going on and are mentally engaged with their work. The job is also just far more interesting and that can make people pay closer attention to their work and consequently perform better.
Are you saying you got PE interviews while being bottom-ranking in IB? Which PE firm are interested in talking to bottom ranking IB analysts? Curious if you can share the name
I was not a great banking analyst (thought it was gay) and got all the looks at all the top PE firms. The trick is to lie when they ask you about how banking is going
WOW - PE firms are like this when screening banking candidates ?! I assume they’d know if you are bottom-ranking or not
I was a solidly middle bucket analyst doing mostly just not doing any extra effort to get higher and making sure not to get let go. Pretty much just thought banking was dumb and I didn't care enough to engage too hard. Have been top ranked for 4 years now in PE... much easier to put in the work when it's actually interesting
Not really 100% fit to your question, but I was generally a subpar IB analyst and then did well both in corp dev and then various PE PortCo roles (corp fin, corp dev, FP&A). IB was tough for me because I was never building anything "my own". Much different and easier for me to care when not only do I have to assist in finding acquisition targets, I have to own the model, run DD, negotiate the SPA, integrate, and then report on that subsidiary or PortCo every month.
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