Career banker vs PE

How did you know you wanted to be a career banker? Is it common to stay on from A2A and then recruit for PE as an associate instead of on-cycle immediately?

532 WSO Academy Private Equity Session Reviews: 4.82/5

Anahuac University

Class of '18 Nov 2026 Cohort

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Private Equity Full Resume Review

“Rachel helped me through the very beginning and we had several iterations that were crucial to the development of a better and great CV for applications. I appreciate her patience and puntual feedback every single time. Also the response time was very short and kept me aware of any delay. It kept me on line for what I had to do and some areas to focus that I didn't knowe before, and some of them honestly I didn't have any idea. Very well all around work”

Class of '24 Dec 2025 Cohort

5.00/5

Private Equity Mock Coffee Chat

“Julius was extremely helpful in breaking down the accounting concepts, especially allowing me the opportunity to walk through a question step by step on how the three financial statements are impacted across income, cash flow and balance sheet along with figuring out the mental math for it all. The concept for Equity Value to Enterprise value and bridging between the two were fairly straight forward. Along with the networking advice on reaching out to potential recruiters for Investment banking roles and how lateral recruitement is happening year end vs going into Q1 next year.”

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Based on the most helpful WSO content:

Deciding to Become a Career Banker:

Reputation and Responsibility: Many who stay in investment banking (IB) from analyst to associate (A2A) have built a solid reputation. They often find themselves taking on responsibilities akin to a VP, such as leading committees, discussions, and client calls. This level of responsibility and recognition can be a significant factor in deciding to stay.
Team Dynamics: A good relationship with senior bankers and a respectful team environment can make the decision to stay easier. Some find that their team is more respectful of junior bankers, which contributes to a positive work experience.
Financial Incentives: The A2A promotion often comes with a substantial financial incentive, which can be a strong motivator to stay in banking.
Work-Life Balance: Some find that having support below them saves significant time, reducing their weekly hours and improving work-life balance. This can make the long-term prospect of staying in IB more appealing.
Career Growth: The opportunity to continue growing within the firm and the industry, without starting over at the bottom, is another reason many choose to stay.

Transitioning to PE as an Associate:

Timing and Flexibility: It's not uncommon for A2A bankers to later transition to private equity (PE) as senior associates. Some choose to stay in banking for a few more years before making the move, finding that it doesn't hinder their long-term career goals.
Experience and Opportunities: Staying in banking for a few more years can provide additional experience and open up higher-level opportunities in PE. Some find that the skills and reputation they build in banking can be advantageous when they eventually move to the buyside.
Personal Preferences: The decision often comes down to personal preferences and circumstances. Some may find that they enjoy the work in banking and the relationships they've built, while others may be drawn to the potentially better exit opportunities and different work environment in PE.

Key Considerations:

Work Environment: The culture and dynamics of the team can significantly impact the decision to stay in banking or move to PE.
Long-Term Goals: Understanding one's long-term career goals and how each path aligns with them is crucial.
Financial and Lifestyle Factors: Balancing financial incentives with lifestyle preferences and personal circumstances is important in making an informed decision.

In summary, the decision to stay in banking or move to PE varies based on individual experiences, team dynamics, financial incentives, and long-term career goals. Both paths offer unique opportunities and challenges, and it's essential to weigh these factors carefully.

Sources: A2A vs Buyside - Should I stay in banking?, To all A2As: When did you know that you wanted to stay on?, A2A - what has been your experience ?, Q&A (Ask Me Anything): IB to MM PE to Strategy (In-House), Q&A: From State School to MM IB Vice President Without an MBA

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