Declined a lateral offer and regretting it
I declined an offer from a large cap PE firm ~12 months ago to lateral after going through the interview process. I ended up deciding to stay at my current firm (also doing large cap) given that I have good promotion visibility (was just told I am getting promoted to VP) and would have had to take a step down there and potentially make VP in 2 years (but also less clear)
However I am somewhat regretting my decision as:
1) I don’t necessarily love the strategy (more value/industrials biz vs more growth/tech biz for the other firm)
2) I am also getting worried for future fundraising given our portfolio - some of which has really materialized over the last 6 months; the competitor fund has had a very successful fundraise somewhat recently
3) quality members of my teams that I looked up to have jumped ship and it feels like the worst ones are the ones left
While not in a rush to move given positive career trajectory; how do I reposition myself for that role potentially in the mid term? If they came back to me making the same offer they did I would take it any day.
It'll depend on the culture of that target firm, and whether you might be able to point to strong connection(s) you might've made throughout the process that you feel wouldn't be weird for you to grab coffee with in 6-12 months just to catch up on the industry and life. For what I've seen from some firms, declining an offer is a pretty clear indication to not engage for a few years...for better or worse, you've sort of strung them along, sometimes ego hit (especially since you didn't even go anywhere else), and also given them a clear data point in your interest / commitment to them. Best bet is to ride the promotion for another year and reach out to one of your strongest interactions there just to trade notes on the industry and catch up on life, and see what their situation is down the line probably?
For what it's worth, I declined an offer in the last couple months and didn't even get another job...I'm now focusing on peer funds with similar sector coverage because i'm assuming I burned that bridge for the next few years lol.
The ship has sailed my friend…
Best time to lateral is after a VP promotion. There is so much out of you control for VP promotions that its worth it to stick it out if you are on track and try to see whats out there in a year or two
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