PE (VP) > Corp Dev > Back to PE?
I was laid off 6 months ago as a VP2 (not performance-related, entire group shuttered) and the VP lateral market, especially in NYC, is pretty stagnant at the moment. On the other hand, I've had a lot of traction with PE-backed corp dev roles. The idea of taking a remote job, working 40hrs per week, and making ~$300k while I continue to recruit for PE is starting to sound appealing.
Anyone else considering a similar move? Any downside to this? Would taking a role like this be worse for PE recruiting than simply remaining unemployed?
The market for PE may not be coming back and I think the competition for VP level roles is insane. Would probably go with the corp dev role and try to get back into PE or widen search to cities outside of NYC or even try secondaries/private credit.
I've been looking at roles outside of NYC. Problem is there still aren't that many. Tough market...good idea on looking at PC
I’m on the cusp of making a similar move within the renewables space after being let go from my PE fund a few months ago. Wondering the same question as to whether I’ll face any new recruiting challenges should I decide to move back to PE at a later date. Depending on the scope of the corp dev role there should be lots of transferability… but I’d think most funds would still opt for a “plug and play” if given the choice. But like you I’d rather be earning money and gaining experience now than standing still
Do you think the renewables space will recover in the near future or are bearish on it?
Genuine question - why? $300K easy 40 hour low stress gig sounds amazing. You wanna enter the rat race and go back to the trenches? No judgement just curious what you are thinking / thought process.
Personally I'd rather work 60-70hrs per week and make $500-600k (with higher upside / comp differential as you get more senior) vs. 40-50 / $300k. I don't mind the extra hours and find anything below 70 to be manageable. Also I generally find the PE job a bit more interesting / more variety vs. just leading acquisitions in one industry or vertical. I totally get why someone would make the tradeoff though
Thanks for the response, makes sense. Just a question: What if you grind for more and more years and the partner promotion or carry doesn't come to fruition? Is that a possibility in your head? What are the odds you think you can just stay the course and rise to partner at a firm? Just curious as I am deciphering between PE / corporate rn
I've only been climbing the IB ladder (vp) and got laid off last year but similar-ish boat. Corpdev/strategy processes have been deceptively difficult. Lots of traction but can't seem to convert to a real written offer. I'd love to hear any advice if you already have offers in hand though.
What total comp range are you targeting? Would be helpful in my search aswell.
very different group to group but generally looking for 150+
I have a very similar story to OP and made this move. Feel free to DM me would be happy to chat and share thoughts.
Del
Del
wait where are corp dev associates making 300k
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