Leaving for buy side after short stint
I lateraled to a regional bank that is well-known in my area with the intended purpose of making it to PE. Through an extremely unexpected turn of events, I have recently secured a buy side seat in my area that offers fantastic experience, great pay and lets me get into the industry I want to be in long term. The only issue is that I’ve only been at my current shop for 6 months. Before that I was at a no-name boutique for almost 2 years.
I feel pretty bad leaving my current bank so early because I love the people, but I truly feel like this is my last chance to break into PE. For context I’m 28 and switched into banking later in my career with the intended purpose of landing an investment role. My personal rule is to typically wait a year before leaving, but how bad does it really look to leave after 6 months if I’m truly taking a job I would categorize as “my dream role”?
Effectively everyone I’ve spoke to (family, friends, mentors, etc) has said to take the job but a few have admitted that the 6 month stint is a bad look.
For what it’s worth, I’m most likely going to take the job. I’m mainly looking for people’s thoughts and opinions on how bad of a look this really is. Any insight would be greatly appreciated.
Based on the most helpful WSO content, leaving a role after 6 months for a buy-side opportunity, especially one that aligns with your long-term career goals, is generally acceptable under certain conditions. Here are some key insights:
Career Alignment and Long-Term Goals: If the new role is truly your "dream job" and aligns with your long-term aspirations in private equity, it outweighs the potential negative perception of a short stint. Many professionals have successfully transitioned to the buy-side early in their careers, even with brief tenures in prior roles.
Perception of Short Stints: While a 6-month stint might raise eyebrows, it’s not uncommon in the industry, especially if the move is to a significantly better opportunity. The key is to have a clear and concise explanation for the transition. Emphasize that the new role is a rare and ideal fit for your career trajectory.
Maintaining Relationships: Since you value the people at your current bank, ensure you leave on good terms. Provide ample notice, express gratitude for the opportunity, and avoid burning bridges. Strong references and a positive reputation can mitigate any concerns about the short tenure.
Industry Norms: As highlighted in WSO threads, it’s not unusual for professionals to leave banking roles after a short period, especially if the move is to the buy-side. However, repeated short stints can be problematic, so it’s crucial to ensure this move is well thought out and not a stepping stone to another quick transition.
Age and Timing: At 28, with a clear focus on breaking into private equity, this opportunity might indeed be your best chance. Delaying the move could risk missing out on the buy-side path altogether, which would be a bigger setback than the perception of a short stint.
In summary, while a 6-month stint might not be ideal, it’s not a dealbreaker if the new role is a significant step forward in your career. Handle the transition professionally, and focus on the long-term benefits of the move.
Sources: Quitting major Investment Bank in NYC after 2 months...?, Leaving banking after one year, Checking in 6 years later [IB to MBB transition], Can I leave 6 months in?, Joined New Firm; Complete Non-Cultural Fit > Let Go in 6 Months
Life is short. FWIW it's so hard to come across a buyside gig you see yourself in for 5yrs+ at earlier stages of your carrer... Take it
Especially if you are in your late 20s - take the PE offer and don't look back. You have a long career and that 6 months is going to be a blip. The only situation where it will be difficult for you career wise is if the buyside role doesn't work out in a short timeframe too.
I opportunistically hopped to the buyside quicker than typical, and while the team didn't appreciate it, leaving early has been a non-factor since, and it was 100% the right decision.
Is it a bad look? Yes. Should you take the job anyway? Also yes.
The 6 month stint only looks bad if you have to turn around and go find another job shortly thereafter. In an extreme scenario, if you find yourself never taking another job ever again, nobody will ever see your resume again.
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