Hey guys, I feel pretty lost at the moment. Graduated from a top school and went to BB IB before transitioning into an early-stage investing role. Had the complete misconception that the lack of fulfillment I was getting in BB IB would be fixed by speaking to founders at an early-stage VC. After all, PE is only IB 2.0, right? Wrong. The people I worked with were still terrible and frankly the culture was better in IB. You simply can't get the same comradery on the other side is what it seems like. Anyways, I have since left my investing role for factors out of my control and am trying to figure out what I want to do next. The thing is, I value making money as supporting a future family is my constant concern. At the same time, I also want some semblance of WLB. That said, startups/corp dev seem like it is hard to make outsized pay, VC is frankly a joke as 99% of funds just lose LP money and can't raise subsequent vehicles, IB crushes your WLB but has great pay, and PE is also similar to IB, but gives you more control of your schedule. Do you think I should gun for IB, re-set, and try to figure out my next steps? What would you all recommend? Sorry for the rant, but really feeling it right now and not doing well.
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How long were you in each role?
If you did two years in IB, your group might let you come back easily. If it's more like 1 year + 1 year and now not currently working, that's a tough sell.
PE is not the golden land compared to IB. You will still have deals that blow up and ruin your life for a while, and at ASO you may not get Friday afternoon bombs like they do in IB, but you certainly don't have a flexible schedule or anything like that. I also don't think you will be able to land PE right now given you're not currently working. It sounds like you're a little all over the place, IB might be a good place to hang out for a bit and figure out what's next. Keep an eye on your tenures though, 3 ~1 year tenures is not a good look.
Also fwiw the camaraderie is really only at AN/ASO level, and even if you love it now it definitely becomes lower priority a few years out of school. Culture is one thing to prioritize but you're never going to replicate having 20 people your age all sitting in a bullpen working together.
Thanks OP. Really helpful. Yes, unfortunately it was 1 + 1. I was sold on a false idea to my most recent role which put me in a bad current situation. As it relates to IB. If i go back, I plan to completely commit for at least 2 years. If that is the best option, are there certain banks, or even groups, you suggest I prioritize?
To be totally honest, 1+ 1 + not employed is a really hard combo. It seems like you crashed out of both jobs, even if it's not the situation. It's a hard box to climb out of.
Your options are likely to downgrade heavily (MM or below) or ask your old group if they will take you back, if you left on good terms. I would certainly network with other BB/EB groups in the industry you were in previously as well, but you will be up against people with much cleaner resumes.
Also look at things like corp strat / dev at more acquisitive companies, especially if you're looking for WLB. They might find your profile interesting and while you won't make $500k next year, you can still make a lot of money as a senior corp dev employee.
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