Day in the Life of Buyside IR Associate?
I'm contemplating making the switch from a product group to PE IR, and am curious to hear about a typical associate's day in the life. My understanding are the key responsibilities include creating pitchbooks, and preparing DDQs and RFPs, plus supporting the senior IR folks with meeting and their tasks (please chime in if there are things I'm missing).
Understood that it may differ by firm, but I'm wondering how people in the role find their jobs (are you interested and fulfilled by it, do you miss banking/investing at all)? How often are you able to attend meeting and do you have any connectivity with investors, or is that solely reserved for senior team?
Additionally, how much better is the WLB actually? I've heard varying accounts, with some saying it's a more chill job than banking (aside from when you're close to meeting a fundraising deadlines), but others say that the hours are still pretty bad. I'm hesitant of potentially leaving my current role (my team is pretty nice and the hours are decent, but I'm getting bored with the day-to-day and I don't see myself in banking forever), for potentially worse hours and lower pay. Any advice would be appreciated!
Based on the most helpful WSO content, here's what you need to know about a day in the life of a buyside IR Associate:
Key Responsibilities:
Work-Life Balance (WLB) and Hours:
Job Fulfillment:
Considerations:
For more insights, you might find this thread helpful: https://www.wallstreetoasis.com/forum/investment-banking/thoughts-on-in…</a">Thoughts on Investor Relations? A good or bad move?.
Sources: What’s the deal with Investor Relations?, Thoughts on Investor Relations? A good or bad move?, Roadmap for IBD Coverage Associate to Career Banker, Day in the Life: Hedge Fund Associate - Investment Banking Background, Day in the Life: Hedge Fund Associate - Investment Banking Background
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Ya would love to hear, especially what comp looks like as a senior
Have a friend who moved over and he gave great insight which ultimately deterred me from doing the same.
1. "Key responsibilities include creating pitchbooks, and preparing DDQs and RFPs" this is definitely the core of the work, and very repetitive. Most of the time, doing the same tasks each qtr updating valuations/performance.
2. "How often are you able to attend meeting and do you have any connectivity with investors, or is that solely reserved for senior team?" Usually silo'd into two streams, backend IR ( point above) and Sales. Depends on the fund, but very unlikely you'll be in LP meetings without coming in as a salesperson with an existing LP book.
3. "Additionally, how much better is the WLB actually? I've heard varying accounts, with some saying it's a more chill job than banking (aside from when you're close to meeting a fundraising deadlines), but others say that the hours are still pretty bad" This is very fund dependent, but he is most busy during active fundraises, quarterly reports and AGMs. Usually rest of the time is adhoc, hours definitely more chill than IBD but expect IBD hours when things get busy.
4. "Understood that it may differ by firm, but I'm wondering how people in the role find their jobs (are you interested and fulfilled by it, do you miss banking/investing at all)?" His key takeaway for me was that it's too repetitive, unfulfilling and boring. If you are doing purely sales, travelling and meetings LPs going to conferences etc it will be different.
If you like the idea, you could look at placement agents instead, basically IR but for multiple funds so less numbing. Would avoid the PFG's in the banks tho as hours seems to be same as IBD if WLB is your end goal.
Thank you so much! This is super helpful
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