Career Advice - Private Equity
Hey all, I'm seeking some career advice. For a quick background, I'm currently working at a MM PE Fund as a first year Associate (solid performance and great learning experience / quality of team) and they are focused on a career track position. Obviously things can happen and I can be let go for whatever reason, but I likely have a career in PE in my hands, which I could have never imagined I would be lucky to have. Previously worked in investment banking at a BB and come from a non-target school (lack of friends to ask these questions with given don't have many that went into finance route).
I really enjoy the investing and diligence process but hate everything else that comes with PE - modeling, transaction structuring, sourcing, negotiating, legal work, executing, etc. - which comprises majority of the job and as especially as the more senior you become. I was that kid that read all the investing books and saw myself going to a hedge fund, but ended up doing PE to get the private investing experience...as Buffett touts important. I still am interested in going to a HF but understand some of the risks with making this move.
Has anybody with a similar background made the jump to public equities given lack of interest in deal making and what was your experience like? Did your job satisfaction increase and were happy you made the decision? For the most part, in PE you are largely just executing until you're a senior - so not really contributing to investment idea generation (I know some of you might say you have an opinion but lets be real..the MD decides). I'd be giving up a fairly low-risk career in PE but this job is all about deal making and execution, which is stressful in its own sense and not necessarily enjoyable. Would appreciate any advice if you would recommend exploring public equities after 1-2 years as a PE Associate!
Cheers