If fund doesn't promote and you don't have an MBA, what do exit opps look like?
Trying to gauge options if I don't want to get an MBA but join a fund that doesn't promote. What does lateral recruiting at that level look like? Any examples, anecdotes, etc. would be incredibly helpful.
3 types of funds:
- don’t promote without mba - self explanatory (eg CD&R)
- may promote without mba - 80%+ of the time there’s an interim role b/w associate and post mba role that you have for 2 years so you don’t gain time / seniority vs mba promotes (eg AmSec, Genstar)
- will promote without mba - 80% of the time you are promoted to an mba equivalent role so you may gain ~1-2 years of seniority vs mba promotes (eg GA, Apollo)
you can lateral to type # and #3.
How common is this path (lateraling)? Of people at places like type #1 that don't want to get an MBA, would you estimate that a majority of people are able to find a role at another shop, even if they have to move downstream in fund size? Wanting to understand how "liquid" the market is for moving firms - is it an easy switch or do the stars need to align for a position to open up for you?
Sure if ok moving downmarket then should be feasible if u have decent references.
Agreed with poster above. There should be plenty of chances to lateral assuming you were a good performer but just reached the end of the tenure...though as noted, you will need to be more flexible on size of fund.
There will be plenty of lateral opportunities but your criteria will likely be more specific after several years of PE experience versus an incoming IB analyst that is just hungry buyside gig.
In terms of finding that perfect career-track gig, there is a good bit of timing/luck required. It's important to keep your ear to the ground early for these seats if you know you are going to lateral and strategically manage expectations with the current firm if you'll be leaving a bit earlier than your 2 or 3-year stint.
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