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Based on the most helpful WSO content, here's how you can think about your options:

1. Option 1: Transition to IBD to "pay your dues"
   Moving to IBD could provide you with a more traditional career trajectory and open doors to broader exit opportunities, such as PE, VC, or corporate roles. However, this path requires significant effort to break in, especially since you’ve struggled with technicals in the past. If you’re serious about this, you’ll need to dedicate time to mastering technical skills and networking aggressively. Keep in mind that starting over in IBD might mean a temporary pay cut and longer hours, but it could set you up for a more versatile career in the long term.

2. Option 2: Lateral to a larger PE shop in IR
   Moving to a bigger firm could enhance your resume with prestige and provide exposure to more sophisticated processes and larger deals. This could make you more marketable in the future, especially if you want to stay in IR or transition to a related role. However, you might lose some of the perks of your current small shop, such as autonomy, faster growth potential, and the chance to be a key player in the firm’s success.

3. Option 3: Stay at your current firm and ride the growth wave
   If your current firm is growing quickly and you believe in its trajectory, staying could lead to significant financial upside and career growth. Being part of a small, growing shop often means more responsibility and visibility, which can be invaluable. However, this path is riskier since the firm’s success isn’t guaranteed, and staying in a smaller shop might limit your exit opportunities if things don’t pan out.

Key Considerations:

• Long-term goals: If you’re aiming for a broader career in finance or want to keep doors open for roles outside of IR, Option 1 or 2 might be better. If your primary goal is maximizing short-term earnings and you believe in your current firm’s growth, Option 3 could be the way to go.
• Skill development: If you feel your current role isn’t helping you build transferable skills, moving to IBD or a larger shop could provide more structured training and experience.
• Risk tolerance: Option 3 is higher risk but potentially higher reward. Options 1 and 2 are more traditional and could provide more stability.

Final Thoughts:

If you’re leaning toward Option 1 or 2, start preparing now. For IBD, focus on technical prep and networking. For a lateral move, research larger firms and start building relationships in the industry. If you choose Option 3, ensure you’re actively contributing to the firm’s growth and positioning yourself for a leadership role as the firm scales.

Sources: Big Law (M&A) to IBD Associate, IB or $200M PE Fund out of UG?, Lateral Internally From S&T FT to IBD FT (BB): Tips, Story, and Advice, Lateraling PE to PE, Ask Me Anything: Post-MBA IBD Associate at BB (NYC)