Lateral IB Associate to PE
Work at a BB in a tangential FO role with opportunity to move to IB at the Associate level. Interested in PE long term and understand that recruiting is much more difficult past Analyst. From browsing previous threads on the forum, however, people seem to suggest A2A is viewed somewhat more positively vs. post-MBA Associates in this regard. Would I be competitive for UMM/MM after 1 year given I have 2 years of tangential (non-IB) Analyst experience, or should I even consider asking to come in at the Analyst level to better my chances?
Fully understand that moving to PE would entail starting as a fresh associate and taking a pay cut, which I wouldn’t mind. Appreciate any insight into which of the two is more feasible as the pay gap is obviously quite significant.
Throwmeeaway, way too quiet in here. What about these resources:
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
bump...anyone?
What size of a fund are you targeting?
What was the non-IB work? Because if you're only getting 1 year of ASO IB exp then no, you most likely aren't competitive for any UMM/larger MM unless you're coming from a good group. Could maybe target some smaller MM/LMM funds or fresh starters with that type of profile.
Sent you a PM
How difficult is PE recruiting from A2A (IB an. --> IB assoc.)? Seems that would be pretty competitive (and don't know why PE firms wouldn't value the extra experience more)
Not as hard and it definitely happens, but again, why would a PE want to negotiate w/ an ASO who's got higher cash comp and is more expensive than the fresh analyst? There's a reason it's typically an analyst->associate pipeline for PE. Just easier and less expensive to bring in younger people and train them. If you wanted to do PE, why would you overstay in IB? If you wanted to do A2A, why do you suddenly want to leave and do PE? All stuff that goes through our (PE hiring) mind when looking at a candidate, and if I have to spend longer than I want to thinking about your specific scenario before we've gone through cases/interviews it's easier to just toss the app all together because I'm looking through 1k+ applicants.
And yes there's the argument "well I don't care about the cash comp, I'm more focused on the long-term than short-term" - it's easy to say that. But who's to say it won't effect your motivation. If you're suddenly wanting to jump ship after committing to A2A after just a year, what makes me feel confident you will stick around for 2-3+ years here? It just adds extra layers of "will they/won't they/if they" to the hiring process a lot of folks just don't want to deal with.
Curious to know as well and in a similar boat…
2 years in S&T, 2 in ECM both at the same US BB (Tier 2) and just moved to a coverage group. Keen to know peoples thoughts on the prospects of being considered for PE are in 1-2 years…
Bump, interested as well.
Bump, curious to hear more input
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