Comprehensive Evaluation of Private Equity as a Career

Evaluating PE as a career option and would appreciate thoughts on a number of topics. Know the general trend is IB >> PE but I’m curious about:

• Longevity: seems like PE is 2 years and out, how often are people given the opportunity to stay and develop?
• Learning Experience: I’ve heard people say that the work is more “interesting”, but what are people’s experience in the role and how does it differ from banking? What do you actually do on a day-to-day other than diligence and modeling? How does the learning experience evolve as you get more senior?
• Exit opportunities: do they materially differ from IB? What does PE prepare you for at a junior level that is not available at an IB?
• Work / Life Balance: doesn’t seem much better than banking at most places, are there any real changes of note in your experience?
• Culture: know this is a firm / group specific thing but are there any broader salient trends across the industry?
• Compensation: given the recent pay bumps at IBs, how does compensation stack up? Obviously if a firm offers something like co-invest that takes things to a different level, but until you reach partner how much more / less would you make at a PE shop?

Welcome any thoughts on topics not mentioned above that people feel are also important to consider but think this is a decent starting list. Considering staying in IB since it is relatively stable and pays well, so trying to see beyond the herd mentality and really get a sense of the benefits / considerations of moving.