I was wondering if anyone had any thoughts on lateralling from one PE firm to another in a Senior Associate or VP role. It seems like opportunities are sporadic but are there other considerations on when is the best time to look?
For example, my current firm pays out bonuses in the summer. However, is looking for a summer start at another PE firm more competitive (as you may be competing with B-School grads)?
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Bump - also curious to hear views
I don't have experience lateraling but I am at the level you mention. I'd think your new PE firm would comp you accordingly for leaving before year end bonus. Not sure if there is a time of year that's better (my firm does it calendar year end). Things to consider include carry vesting (do you have a 1 year cliff, any benefit to staying another 3, 6 months?), fundraising timing, etc. I will say I have never seen so many good lateral opportunities, particularly sr ass. level.
Would love to hear someone else with experience on this topic.
Made a lateral move recently - I would say it can be tough to time it given how ad-hoc the searches are and firms are typically looking to make a long-term hire so it's not like on-cycle where there's this huge influx of talent that is being brought on at once to replace associate classes that are leaving. Generally, earlier is better and to the extent you can tell folks at your current firm you're looking to lateral, would have those conversations so expectations are set around bonus payout. It sucks to be in a position where there's a great long-term opp and you're having to weigh forgoing a nice bonus because of it.
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