Most Helpful

Assuming that PE middle office means portfolio operations or fund accounting, then it all depends on what your career goals are. Corporate banking and working in middle office for a PE fund are two different careers. In corporate banking you'll be mostly working on credit-related deals, and on some occasions be working together with DCM. You would typically be providing revolvers, term loans, bridge loans, etc. for clients and you would not work on large M&A or IPO deals like IB does. The role is nice if you're looking for a better work-life balance, however, the consequence is that your career prospects are limited since its typically harder to exit to another finance role especially a buy-side one. PE mid-office is similar to corporate banking as the hours are better than front office, yet your main function is to support the investment teams. This may include having to compile data, weekly accounting for portfolio companies or funds, etc. at any given time for them. The downside is that you do not get any insight into how the investment process (aka sourcing a deal to execution) is done. Both roles offer very limited upside in terms of career exits for finance but can be beneficial for areas outside of it like corporate development or strategic finance. Out of the two, corporate banking would provide the most value or insight since you get to work with clients directly.

 

I generally agree with this analysis, but CB has decent enough exits - not comparable to IB and no MF HHs are coming for you, but certainly better than PE MO. Credit PE is fairly common and I've seen people go to smaller LMM PE shops as well. Of course, can move to IB fairly easily. And corp banking does work on a good number of M&A deals, as many BBs are providing financing which corp banking is involved with.

Corp banking is likely a better idea if you're not sure what you want and are looking for optionality. PE middle office will not give you an opportunity to move to an investing role if that is what you're after.

 

Great comment. Am also curious if this is still the case given the PE firm is a really large one (e.g. Carlyle/ BX/ KKR)? Any insights on the internal mobility?

 

Perferendis et placeat animi suscipit autem veritatis. Ea quis aut accusantium reprehenderit.

Career Advancement Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 99.0%
  • Warburg Pincus 98.4%
  • KKR (Kohlberg Kravis Roberts) 97.9%
  • Bain Capital 97.4%

Overall Employee Satisfaction

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 98.9%
  • KKR (Kohlberg Kravis Roberts) 98.4%
  • Ardian 97.9%
  • Bain Capital 97.4%

Professional Growth Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Bain Capital 99.0%
  • Blackstone Group 98.4%
  • Warburg Pincus 97.9%
  • Starwood Capital Group 97.4%

Total Avg Compensation

May 2024 Private Equity

  • Principal (9) $653
  • Director/MD (22) $569
  • Vice President (92) $362
  • 3rd+ Year Associate (91) $281
  • 2nd Year Associate (207) $268
  • 1st Year Associate (388) $229
  • 3rd+ Year Analyst (29) $154
  • 2nd Year Analyst (83) $134
  • 1st Year Analyst (246) $122
  • Intern/Summer Associate (32) $82
  • Intern/Summer Analyst (315) $59
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”