Some context:
- I am currently an ASO-1 at a US BB
- The opportunity is for a (Senior) Analyst at a UMM PE / Growth Equity fund
Based on my DD, below are reasons why I am considering this (even though it may sound absurd):
- Lifestyle: Hours will be ~30% lesser (~ 60h vs 90h weeks)
- Sector: Consumer-focused, which is a sector that excites me
- Network: I think this matters as I start building a network and rep around the consumer sector
- Team: People are absolutely nicer, I feel like I get along well with the team
- Work: I personally see more value in developing skill sets as an investor vs IB
Some considerations:
- Pay: I will be getting ~30% pay cut to make this move
- Title: Big discount from IB Associate to PE Analyst. Prob take me a year to get to Associate and 4-5 years to VP (if at all)
As this is a major milestone for me, really love to hear if anyone has constructive perspectives / thoughts to share. Got 2 days left to make this decision.
Much appreciated!
As someone who is an A2A and now an A2 I would have to tell you take this offer and don’t look back. The job sounds like it excites you way more and would be more of a long term play. 1-2 to make up title is nothing in the grand scheme of things and no one really cares. Always a risk that you don’t get another offer and you’re in my shoes hating his job trying to get to the buyside still lol
Thank you for sharing your perspective. It really resonated with me. I guess deep down, I know that it will be more exciting to me and will probably be happier if I took the offer.
Curious to hear why you are "hating your job" as an A2 and how you think that going to the buyside would solve those problems? Would you rather not stay for another year and promote to VP, instead of stepping down to be a junior again?
Is this a primary sourcing role? Or a 2-3 year execution gig? Do you enjoy your team / group / responsibilities as an As1?
If you can see yourself as a career banker, I wouldn't necessarily jump ship to a 2-and-out junior PE role in which you may find yourself likely back in banking as an As2/3 in a few years anyways. Or worst yet, back to b-school then banking, which isn't always the plan but I've seen it play one too many times...
But if you've wanted to leave for awhile, are genuinely interested in the role, and see some potential for upward mobility, I wouldn't led title deter you. As1 to An2 in the grand scheme of things will matter little if you're in a good seat at a good fund. Just my 2 cents.
These are really helpful points. They really hit the nail on the head.
I ultimately decided to go with the PE opportunity. Excited to see how things pan out.
Thank you for sharing your views!
Is this Europe or US?
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