Anyone know mid level folks who have quit PE firms with nothing lined up? I'm pretty burnt out and would love to take some time to regroup and figure out what's next (not sure if it would even be finance)
Curious to know 1) how you positioned it to your current firm? feel like I could give a little more notice and transition out, 2) where you ended up if you took this path
I'm couple of years into VP gig if it matters
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Based on the most helpful WSO content, here’s what you need to know:
Positioning Your Exit to Your Current Firm:
Where Others Have Ended Up:
Taking time off can be a valuable reset, but ensure you leave gracefully and maintain strong relationships with your current firm. This can help keep doors open for future opportunities.
Sources: Q&A: Private Equity Portfolio Company CFO, Handling Stress / Burnout in Private Equity, https://www.wallstreetoasis.com/forum/private-equity/leave-pe-early-or-stick-it-out-2-years?customgpt=1, Saying Goodbye to Finance?
Same here - would be keen to hear how others think about it. I have a little savings enough to cover one year of travelling and having coffees with people to figure what I want to do professionally next. I also like the idea of spending one year of my adult life just for me - no work at all, just living and learning who I am and what I like when I have unlimited free time every day. But yeah - worried it will be near impossible to re-enter the job market after such a break
Honestly I would be worried doing that in this market. People who did this in 2020-2022 are likely going to have a better story about how they hopped right into their dream job, but white collar job market is very limited right now and you're going to have a harder time without a current job, even if you have a sterling resume.
Can you move to a chill job in a portco for a year and figure it out from there? Will your firm let you take a sabbatical?
I was thinking of doing this but with AI coming on so fast I'm trying to save as much money as I can. Future is pretty bleak and uncertain imo.
Same here man. End of year I’ll be at ~5-6 years liquid cash runway. Trying to make as much as I can now and then if the unfortunate happens can go travel and figure things out comfortably.
Not your exact situation, but know a few guys at your level who were let go in the past year. All found new roles pretty quickly but went to less lucrative places - smaller funds, family offices, portcos. Don't know your preferences, so take that as you want.
Would say it comes down to your personal situation. Yes the mid-level market is tough right now, so best to hold on to a job and not rock the boat unless you're sure you won't regret leaving PE. On the other hand, your mental and physical health are very important. It's not worth pushing through burnout and risking getting let go anyway, especially if the market won't improve in the near term.
Golden handcuffs and opportunity cost will always exist, and the job market will always appear challenging. The world needs more risk takers - as someone who hasn't done this you should do it instead of me (in all seriousness I have much respect for people who break the matrix)
Dude is trying to get OP’s job so bad
Do not do this.
I don't think it's as dire as others make it out to be IF and only if you are okay not making it back into an equivalent PE shop. If you take 9 months off to travel and earnestly try to break back into PE, I am pretty confident that you can but it would likely be a step down from your current shop (size, prestige, comp etc).
That said, if you're pretty sure PE isn't for you, are open to other things like corp dev, startups, etc, are in a tier 1 city or willing to move there, and have a pretty good background otherwise... I think you'll be fine.
If you’re done with PE, you can do this with very little downside or risk.
If you want to stay in PE - you are best off staying in your current seat and lateraling. That said, if you’re open to moving to a non tier 1 geo and working in LMM, that could be doable particularly if you have a good background.
I would encourage you to focus on your personal life and the value of your time and youth at this point. I assume you have very healthy savings and you clearly have worked hard for a very long time. What remains of your youth is rapidly fading away and if you want to take a big trip or go on an adventure, it’s now or never. The best and healthiest years of your life are your mid 20s - mid / late 30s. After that, you likely will not have the same energy or physical capacity or life circumstances (kids, mortgage, etc) to pursue an adventure or new experience. The money you have will compound and grow over time but your youth will only fade away.
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