Corp Banking to PE?
Tried searching this question up, but had no luck. Is it possible to go from CB JPM/Citi to a LMM PE shop? Will be covering interesting names and work hand-in-hand with the same coverage IB team
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Have seen this done - credit PE is a pretty common exit from CB as well. Be responsive to HHs and be open to a variety of shops.
thanks!
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I've seen one person go from CB at JPM/CITI to a 5 man LMM Pe shop. The CB skillset doesn't really teach you anything because it's mostly PowerPoint stuff with decks. You'd be better off trying to lateral to IB then to PE.
Or consider getting an MBA
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I started my career off in CB. 2 years CB, 2 years IB, then LMM PE. Path of least resistance is likely lateraling to IB first. It’s probably possible if you work / network hard enough to directly into PE from CB, but transferring to IB first will definitely open up more opportunities in PE. The people that I formerly worked with in CB that went directly to PE both had fathers that were partners at funds so not necessarily a great fact pattern if you don’t fall in that bucket. Although, as long as you aren’t extremely bored, CB was the best gig I’ve had. I miss it, and wish I never left a lot of the times. The work got extremely boring to me after awhile, but the pay per hour is amazing (slight discount to IB for like half the work). Especially once you had some reps was super easy to be efficient and quick with work
Which type of bank did you do your CB years at? And did you do an internal transfer to IB? If so, how was that perceived? The senior bankers on my floor mostly disapprove of juniors doing an internal move to IB so wondering how you made the move without burning any bridges.
Think like US Bank / Truist / PNC type balance sheet bank. I did not transfer internally, lateraled to one of the well known sell-side focused MM banks. I never put too much thought into an internal transfer given these type of banks don’t have the strongest M&A deal flow and I wasn’t going to transfer internally to do the same job for more hours. Did lots of networking and was able to line something up but came in as a first year IB analyst. Was little bit of a bummer but got amazing reviews given I had 2 years of banking experience (albeit CB) compared to kids fresh out of college
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