Obviously this is a function of rates/the current market, but seems to me that lately a lot of associate level folks in PE on this site are posting about being forced out / feeling anxious about not having a PE seat for much longer.
It's a given that MF funds tend to have 2&out programs, but for people at MM shops with historically solid returns, how tough is it to hold onto a seat either at your current firm or end up at a solid lateral?
Feeling anxious as an intern about something so far out of my control obviously isn't productive, but the more I read the doomposting on this site, the less PE feels like "the promised land".
TL;DR -- If I want to stay in PE long-term, what are the odds I even make it to 30? (What percentage of MM-level exits are forced vs. choice?)
Think it's pretty doable if you want to do it and aren't snobby about MF. We are obviously in a weird market right now but historically there's been room to ride growing funds, either by staying put or by lateraling (usually from a bigger place). Think skipping b school unless you have a return offer may be safest right now.
Isn't the best possible way to extend a PE career to start at a MF and then get pushed downstream as you get more senior? If you start in the LMM then your options dwindle for taking a step down. Open to other opposing ideas.
I know this is more the exception than the rule but I’ve seen people at MM/LMM firms end up at much larger firms. Uphill battle for sure and much tougher than the opposite but it’s possible
Alternative is start in MM / LMM and grow with the fund
Depends if you have a good grip strength
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