FO role back to IB / PE
Hey all — I have a final round interview at a family office in a couple of weeks in a Tier 3 city. I had an IB SA gig this summer at a top MM but unfortunately was not given a return offer. Nobody has asked during my FO interviews if I received a return offer. I've had a pretty rough last couple of months with trying to find a FT job, so I'm praying this is my last stop. I ideally would like to start off in IB, but doesn't seem like there is a lot of FT hiring at the moment. Wanted to get folks' thoughts on going from an FO role back to IB and eventually to PE.
Understand that the reverse is usually the case but would really like to get back to banking. Would bankers look down on me since FOs are usually a cushier job? Thanks for any thoughts in advance.
Depends on how high-profile / rich the family is. In your case, I presume it’s a relatively low-profile/lower AUM family, otherwise you wouldn’t be hesitating. I’d say if the FO has a direct investment arm, then it would be highly valued / sought after
Family is worth just over a billion. Firm is trying to build out their PE portfolio currently but are also focused on public equities, VC, HF, RE, and also owns a professional sports team.
It is completely impossible to move from a family office role to banking or PE as a junior. Never been done in the history of the world. Sorry.
Lol — I'm taking that it is possible then. And I mean like a top MM, EB, or BB bank.
Currently at a Single family office in a LATAM country and have been approached by HHs / acquaintances for both Boutiques and Bulge brackets for several roles (was formerly at one BB before my m&a role at the SFO) so yes, I’m not moving back to IB because of WLB, role pays fairly good in my country and I’ll be applying soon to M7/Insead
I guess as someone else mentioned it depends on whether you perform at a direct investing arm and the capabilities required for the position, as well as the deal reps
When transitioning to a different role try to be as commercial as possible with the FO one - sell it a as a direct investing seat with high responsibilities/exposure, hopefully you’ll see some creative and flexible trx too so it all could help!
Best wishes
Bump
Searched on a LinkedIn - saw a few megafund PE professionals (Apollo/HF) pivot to elite family offices with multi-billion, generational wealth - I’m guessing it really depends on how rich the family is. The wealthier, the more desirable in high finance, especially as a place to pivot to, not pivot from, IB/PE
That makes sense. Family has just over a billion in net worth so nothing like that but also not an insignificant amount. I'm just curious if I would be pigeonholed in the role since it's not in NYC/SF/Chi and isn't an established FO yet, only started about 6-7 years ago. I would be in the investing arm building out their PE portfolio.
Currently in a direct investment seat at a SFO with +$10b AUM. It's a heavy lift to explain to IB and HF the experience you have. They like brand names and even with multiple years of handling +$1b transactions in small 1-2 person teams, a GS intern gets more recognition.
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