Have an interesting opportunity that I am contemplating for a non-PE role (think public credit investing or HF). Question is, if I don't like this role in ~1 year, can I make the switch back to PE relatively easily or will it be tough (and would I need to get my MBA)? This role wouldn't really involve any LBO modelling or M&A transaction processes.
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Questions first:
Ok agree with below. I'd be prepared to repeat some time as associate (i.e., repeat A2 year and potentially do a 3rd year if join somewhere with a 3-year program).
You'd also need a crisp answer on why you left PE and what changed your mind.
Finally, given you're starting at a particularly small and/or first time fund, I'd consider that same size the realistic universe for re-entry. In that size range, there's probably more flexibility around profile (vs. UMM/MF which is more rigid), so you might finagle a senior associate gig, but your universe of options is inherently smaller (i.e., MM+ is likely off the table in my opinion).
thank you!
If bro wanted to stay in PE without leaving in between, do you think MM / UMM would be on the table , eg like a Mainsail, Percheron, Francisco type ? What if he was willing to start at Associate 1 ?
Hmmm, on one hand, that’s a meaningful jump in fund size and most of those classes would be recruited 1-2 years ahead, but if willing to repeat time and there’s a one-off lateral need, I’d say he’d be a compelling candidate - but only if got good deal experience at this small shop (ideally doing 1+ platform).
You’ll probably need to come back as a 2nd year associate to prove that you’re “serious about PE”.
Its pretty ridiculous but given the poor job market there are a lot of sr. associates, existing associates (and even potential junior VPs) that you would be competing against which just makes you a less competitive candidate
of course the only exception I could see is if you join a elite SM or a top MM but then why would you want to leave those seats and come back to PE lol
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