How early to lateral?
Just started new PE gig at MM a few months in now (started in March) and realizing I don’t think I want to be at this fund anymore. How early to begin the lateral process would be seen as ok? Would 6 months be fine?
Based on the most helpful WSO content, it's generally recommended to wait closer to the one-year mark before actively reaching out to recruiters about lateral opportunities within private equity. Jumping ship before the one-year mark can raise questions about your candidacy unless there are warranted circumstances, such as geographic relocation needs or the fund winding down.
If you do decide to start the process earlier, ensure you are very clear with recruiters about what you're looking for and highlight the positive experiences from your current role to maintain a strong narrative.
Sources: Private Equity Associate Regretting Decision, Lateraling PE to PE, Joined New Firm; Complete Non-Cultural Fit > Let Go in 6 Months, Best Practices for Finding Lateral Opportunities, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1
Bump - in exact same position lol
What's your prior experience? If you did 2 full years in banking, firms will likely give you the benefit of the doubt at 6-8 months. Just make sure you have a good reason for leaving.
If you are a new grad or have another short stint (~1yr or less) on your resume, sit tight for a few more months. Ideally you get to a year for best optics.
Did 1 year and 8 months of banking and now 5 months PE, started earlier after they had some associates leave and was understaffed. Not finishing my analyst program shouldn’t count against me though?
It might, just depends on who's looking at your resume that day. I don't think leaving banking like 2 months early is a big deal, but there's people out there who would view this as the second time you're leaving a stint early
Agree with other comments that lateral market is terrible, so expect it to take a while to find a spot. Depends on how much you really need out, but if you're really unhappy in your current role you can start shopping your resume a bit and see if you get any bites.
Just FYI lateral market is atrocious / brutal. Some other threads on it. Also would expect that at 6-12 month mark you’ll be asked to start as ASO1, but I think that’s well understood
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