Burnt out and looking for what’s next
Ignore the title, but I’m an SA and I’m up for VP soon, and I really don’t want it. This job has absolutely crushed me for as long as I’ve been in PE. It doesn’t really get better until you’re a senior MD.
I’ve already been doing a lot of the VP role, and I’m finding the “quarterbacking” boring and kind of micromanage-y, although that might just be the nature of how my firm invests.
I’m trying to figure out what the next step is for me. I’m still okay with grinding, I just can’t do another 4–9 months of DD sprints trying to close a deal. It’s exhausting, and honestly pretty boring when so much of it is admin and process work. I’ve always found business diligence way more interesting.
I’m thinking about moving to growth (Series B+) or a hedge fund (SM), but I don’t know if those are actually much better. I also don’t want to keep trying things just to learn I don’t like them either. I told about corp dev but I think it’s too boring for me and the comp is too low. And honestly, I’m getting older and want a job that can pay me a shit ton on money, still interesting, but prevents me from having to consistently work 80+ hours a week, so I can spend more time with my friends, family, relationship, future kids and my personal heslth.
Based on the most helpful WSO content, your situation is not uncommon, and many professionals in PE face similar crossroads. Here are some actionable insights and potential paths to consider:
1. Growth Equity (Series B+):
2. Hedge Funds (SM):
3. Corporate Development:
4. Family Offices or Smaller Funds:
5. Downmarket Funds or Niche Roles:
6. Consider Your Priorities:
7. Next Steps:
Ultimately, there’s no perfect role, but aligning your career with your personal priorities—whether it’s comp, intellectual stimulation, or work-life balance—will help you find a path that’s more sustainable and fulfilling.
Sources: Handling Stress / Burnout in Private Equity, Private Equity shops with the best work/life balance, The PE career path, Just got laid off from my 3rd PE job in 4 years - help!
Feel similarly and don’t know what to do
It sounds like you need to go into VC my friend
Maybe. I never really liked the spray and pray style and the comp is also low. Why not growth/VC at series B or C+? Are funds like IVP, NEA, Insight, Greenoaks, Bond, TCV, Iconiq, General Catalyst, etc. sweaty? Please tell me there’s a world where I’m working only 60-70 hours max, have most weekends free, don’t get grinded on most holidays and still make a lot of money lol. I feel like these request seem like a lot but when I step back, this should be the bare minimum
You should do DCM/ECM at banking my friend
Some of these (Greenoaks) are still very sweaty. More importantly, it doesn’t seem likely for you to get a seat there unless you’re at Silver Lake / Thoma / Vista now. The growth market is pretty dead right now and not a ton of hiring is going on at the mid-level
You might be able to find a home in secondaries given your interests. However, I'd watch out for the grindy, hardo secondaries shops, where culture might be more or less consistent with your current shop.
How would you view a career in secondaries vs buyout? Feels like secondaries has lower ceiling but more growth opps?
I feel like your thinking it correct. Lots of capital flowing into secondaries, so lots of deal reps if you find a good shop. If you find the right career track role, I think there is still solid upside in the space (lesser ceiling than buyout though almost certainly). I do think if you don't like secondaries, your exit options are far more limited than doing buyout, at least from what I've seen. Maybe others can chime in if they've had a different experience.
Currently a third year analyst going through secondaries off cycle. What are some of these grindy, hardo, secondaries shops that we should avoid?
Can only speak from personal experience so unfortunately can't give you a comprehensive list of firms. Just a few initial things to think about when evaluating potential grindy shops:
My perspective might be jaded as I get older and lose energy/run out of patience. I will say that the above mostly pertains to smaller shops rather than large cap shops, so a lot of this might not be relevant for you. I hope your processes go well.
Look into RX consulting
What are you solving for beyond being burned out? Work product quality, friendlier colleagues, fewer hours, more predictable hours, more flexibility, more ability to take vacations? How much does comp matter to you? How much does career progression matter to you? How much does working as an “investor” and thinking like an investor matter to you vs doing project based work? There are layers to this that if you unpack will give you a lot of clarity.
decide which matters more to you: comp or lifestyle - any job in finance that pays you a ton is going to be a ton of work (unless you're one of those vice chairman-types who is 100 years old and does whatever they want, personally never understood why they would want to work at that age tho).
Never ceases to amaze me how private equity provides you with the best business training possible yet few people think about starting/buying a business.
Figure out what you are solving for but the economic upside and freedom most people is not in climbing the corporate ladder at a PE fund. (Yes PE is just a very well paid corporate job now)
bump
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