Remote-Friendly Career Exits at Sr. Associate / VP
My SO is applying to med school and it seems like it's impossible to guarantee getting admitted to a quality MD program in a specific metro area no matter how good your application is. At the point she would matriculate, I'd be a Sr Asso 2 or VP1 at my current shop (confirmed I'm on the path in my reviews). If she had to move, I'd follow her where she goes and at this point I'm indifferent to staying in PE - I like the job but I wouldn't mind a break in a more operationally focused role. With that in mind, what career paths would be open to me that are remote? It seems like tech companies are the most friendly but I don't have much sector expertise
Been seeing a lot of remote Corp Dev roles posted recently!
Look at corporate roles in private companies, particularly the younger companies, a lot of the unicorns for example are pretty open to remote work and also pay more. A lot of F500's these days are also hybrid to 2-3 days in a week where you can probably feasibly travel to and from your GF if you end up in a similar region. You are very unlikely to find fully remote IB/PE jobs; just the nature of the broader industry, think corporate America especially the startup world is significantly more open to remote work than "high finance".
Also want to note that PE and IB are both in-person sales jobs at that in the senior level; the real goal of a PE partner is not to solely just invest but also to maintain communication and raise money from LP's, whilst a IB MD's main job is to win deal mandates to advise. Both are fundamentally jobs that require in-person sales skills more so than corporate jobs like FP&A or Corp Dev and the market for whether there are remote jobs avaliable or not reflects that fact.
Corp dev / strategy / BD / strategic finance is the easiest jump. Long term though you need to get a rep of fp&a if you want to transition to being a CFO. Your background + 2 years of FP&A will likely significantly accelerate your path to the c suite. Doing more deals in corp dev will just keep you a specialist and not qualify you to be a generalist like you need to be for a c-suite position.
Just a FYI, if your SO is thinking of med school and wants to stay in certain metros - consider applying to lower tier MD and DO programs in the area (DO has a stigma for being less competitive but I do know someone who took a DO offer in their home state / preferred metro over a MD offer in middle of nowhere America).
Might be worth bringing that up. If it's NYC, so many options at different competitive levels - which makes it easier to land an offer somewhere within the area. If this is a metro area in California, yeah ... it's going to be tough. Getting into Cali med schools for some reason have always been very difficult even for its own residents (too much competition).
What all in comp range are you expecting? I left BB IB as a strategic finance associate at a unicorn and am making $260k all in 9-5 hours which I think is pretty above market, but wanted to hear what you think your range would be coming from PE which is obviously more attractive than just an IB exit like I was.
Congrats on the role! Actively interviewing for strategic finance associate roles. Would say that most TCs are far below your outcome.
Thanks! I got super super lucky. I just applied through a random posting on LinkedIN. Vast majority of this comp was my bonus, as we had our best record year in our like 22 company history, so I don't think it will be as high next year but still so lucky I got this opportunity.
wtf!
What do you think normal comp would be? like $160-$180k all in?
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