Associate Choices
I would like to add some crowdsourced advice to my thought-process around these options:
For reference, these have come completely organically, and I am considering each as they are all increases in a) comp, b) responsibilities, and c) career potential.
I completely understand that I would be undoing all my compounded goodwill and work at my current shop (non-niche, generalist VC seed fund)
- Associate at a LMM/MM independent sponsor with a few platforms. The team is only 8-9 people with plenty of room for upward mobility. I would have to move halfway across the country, and the focus is on services.
- AN2 at a sponsor in a Tier 2/3 city in the SE that focuses on consumer brands (think along the lines of Roark)
- Senior finance associate (reporting to CFO and VP of FP&A) at a media platform focused on culture and politics. Bonus - I wouldn't have to move out of state.
Does anyone (preferably senior who understands long-term career trajectory) see a clear winner?
FWIW - I come from a non-target and want a long-term career at my next stop.
Bump
What do you like to do / want to do long term? Think answering that question probably narrows you down to 1/2 or 3.
Between 1 and 2 you probably have more upward mobility at the LMM vs. a Roark, but would need to ensure you fully vet track record and upcoming fundraises. Additionally you'll want to understand what industry you want to be long term.
Agree with this. These are different career paths and at some point you need to find what you want to do.
To me, #1 jumps out unless location is a dealbreaker, I would weigh this opportunity against #2 and decide based on which track and team you prefer.
#3 is less interesting for me - FP&A is kind of a dead end, if you want a reliable 9-5 or want to get onto the corporate/CFO track go for it, but this is quite different from the other two. The title upgrade is whatever, you will make more over the long run at #1/#2.
Agreed. Location is not a dealbreaker. However, I would be on my own in some respects (no longtime friends, no family, etc.). It isn't a huge deal but something worth considering, as the job can be draining in some respects.
I would classify (1) as non-discretionary services and (2) as multi-unit franchisee (200+ locations per brand across the US).
Thanks for the thoughts. I ideally want to make as much money as possible (shocker), but the cultural fit at (3) can't be beat, albeit pay would be lower (total comp is the high 100s). It isn't a 9-5 either. They have experienced significant growth with many different business lines in the cultural/political area. However, it still would be a relatively dead-end type role unless I was able to drive a significant business expansion of some kind + make a name for myself.
Can you spend a weekend in the #1 location and see if you could live there? I think 1 is the best option, but hear you on location. You can also go in planning to lateral out to a similar platform with better location in ~2 years, you don't need to build your career at this one firm.
Growth is great, but you won't see much if any upside on that as an FP&A junior. That said, you seem most excited talking about #3. Would they have room for a corp dev role where you'd be actively participating in M&A? That would preserve your exit ops a bit too and let you explore this area you are interested in.
The difference between 1/2 and 3 is (1/2) are more pure-play finance, where I would be underwriting deals, spending a ton of time in Excel/PPT, and helping the management team operate (somewhat) while (3) is a media platform where I identify with its mission, and the team still does M&A along with FP&A/accounting.
The main draw for (3) would be the in-state nature and rapid top-line growth (already low 9 figures). The main draw for (1/2) would be long term career potential plus becoming an expert buy-side underwriter and direct engagement with the founders (and all the upward mobility that comes with that if you are good).
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