LMM IB to LMM PE or MM IB?

Hey boys and girls,


Long time lurker here but I really need some advice. Currently working at a LMM boutique shop in Chicago. I am in my second year and have enjoyed all that I have learned. The hours are not bad for the amount of pay - I can't complain at all, but I really do feel like I have a greater purpose. I honestly enjoy working and sometimes feel bottlenecked with this current position. I have gotten to the point where I am working on engagements directly with MDs and have completed 5+ deals in this dynamic. I also lead the creation of all pitchbooks and other business development efforts. I feel capped out in terms of things I can continue to learn and feel the time has come to search for new opportunities.


The question I have for you guys is: what should I do next? I know this ultimately falls on me to decide but I feel that I am standing in the middle of two split roads. I recently started a process with a LMM PE fund, completed a case study (which they really liked my work on), and am now being invited to final rounds (which will just be conversational). I may be overthinking it, but I feel like the LMM PE route may be a dead end and it seems like the firm I am interviewing with does not have a lot of upward mobility. Something in my gut is telling me to turn a potential offer down and lateral to a bigger bank for a year or two AND THEN move into a larger PE role that will not only pay substantially more, but will have more room for growth. I honestly would not mind working the longer hours at a larger bank and feel that it would be beneficial for my career in terms of connections, expertise, and exit ops. Going from LMM IB to LMM PE does not seem like much of a change (culture, pay, dynamics) apart from sitting on the other side of the deal with different responsibilities.


You might say that my mind is already made up on this one and that I should go to a bigger bank. I am trying to contemplate any and all scenarios before I were to potentially turn an offer down - I do not want to regret it. Please let me know your thoughts - any insight would be helpful!

 
Most Helpful

I did this.  Went LMM IB -> MM IB and heading to the buyside in the summer.  Definitely worth it from the perspective that recruiters had no idea who i was until i joined a name brand bank.  Was able to recruit after 18 months and am finally achieving what i set out to do when i graduated.  The up-market lateral will generally pay off better for opps than trying to find some scrappy buyside firm and go up market from there after a few years 

 

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