MF PE VP —> EB Banking?
Currently junior vp in mf pe (ignore title) - 30 years old. Bottom end of cash comp (~500k) but decent carry. Issue with large cap pe is exits are tough so carry is difficult to realize.
Had a friend offer me to come over at vp level at a top EB (PJT / CVP / EVR) with potential for much higher cash comp (700k+).
thoughts / recommendations? Alternatives to banking route? Would prefer respones from more experienced members here (not analysts / associates).
On one hand I like investing and PE (working with portco execs, thinking about value creation, thinking through positioning) but worried about cash comp as I hit my early 30s and lack of realized carry.
Top performer at fund and one of only people to get direct promo so have decent path.
Think about whether you want to be a banker for the long term
EBs are great spots to maximize cash comp, but they don’t necessarily set you up for a long term career if you are rising up through the ranks. You gain great execution expertise (assuming good deal flow - you should diligence as it’s very group specific), but no boutique has a great reputation of how to develop your commercial muscle for homegrown talent
That’s not to say that you shouldn’t do it, but if you want to be a partner / SMD it’ll take some very careful planning. On the flip side, you can get to the MD level (typically second to last rung at most places) working for a rainmaker and cruising by on execution. You will be comped very well but you have a ceiling to your career.
Source: at the mid-senior level at one of these places and reckoning with the path forward
OP Here. Any chance you would be open to a dm? Would love to ask some specific questions and get your perspective.
Much appreciated.
People on here hate on banking but if you’re a rainmaker at an EB you’re clearing PE partner salary.
Isn't this a given?
If you have a decent line of sight to principal and beyond + you enjoy your job I think it would be foolish of you to be leaving a MF gig for banking. Yes the comp is much higher but the extra $200K isn't going to make a difference in your day-to-day life (though still very nice to have).
You need to develop a much different skillset and frankly I just find banking job to be so boring. Lastly, I think you underestimate this but going from serving 1 client (i.e., your partner/boss) to many different clients (+Managing Directors) is something I think we take for granted in the buyside
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