I've seen a couple PE firms with post-IB positions being called "analysts". They don't have true analysts and these people function as associates. But I was wondering if this was a red flag as in they may pay below market or have the analysts do mostly cold calling.
May be thinking too much into this...
Being real, an Analyst role in Banking is probably different from an analyst role in PE where in IB the analyst does the analysis work and in PE the associate does the analysis work. The caveat from what im seeing is that PE firms where the associate role is flagship post IB deal-centric role, the analyst in that same shop is stuck with the worst parts (sourcing, legal, spell-checking). In other shops (such as what you've mentioned above, the analyst role is the post IB deal-centric role (just depends on the firm culture and what the partners want to call them) -> I saw a video where schwartz spoke to a class of associates and called them analysts. I am also curious if this reduces compensation from the name alone
This also can be the case for IB Analysts that left their position after a year or less. PE firms often offer to hire you the chance to start when you hit the one year mark, and they will give you the analyst title for one year, after which you will become an associate. In the one year time between it isn't like they get stuck with doing the BS work many PE analysts get stuck with, though. I have never seen a PE firm that hired someone after completing their IB program in full get the title analyst, thought. I think the situation above is way more common.
This is true. I am very close to a situation like this - didn't know many firms offered this and it just seemed that people wanted to stick out the extra year in banking
There are LMM/MM firms that start their post-IB junior professionals as analysts. At the end of the day, they're doing the same type of work.
Yes this is correct. I think it's off-market, but some firms have just had their structure in place for decades and refuse to conform. My firm doesn't have the Senior Associate title, so it's Analyst --> Associate --> VP --> Principal --> MD
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