Reneging for buyside?
Hi all,
I'm a current undergrad in the process with a large buyside firm for a direct investment seat, however I already signed a return offer with a T2 strategy firm to start in ~1 year. PE group comp is $20-80k more than T2 depending on bonus in year 1. Risks of reneging? Good decision in terms of exit opps, optionality, etc.? Any advice is truly appreciated.
Is PE your end goal? Like was your plan to go consulting >> PE next?
Can you confirm the PE analyst seat is a tier 1 firm?
If so, I’d say take it. If you were going to IB or MBB full-time, it’s more debatable, but for T2 consulting (where PE placement is less guaranteed), I’d definitely take the analyst gig.
Re: burning a bridge, it’s not great but fine. Consulting firms have associates change their mind all the time. Plus, they’ll want to be nice to you since you may hire them in the future for CDD.
PE would have been a potential top exit yes - seat would be at a large SWF/Pension/DFI. Thanks for the advice didn't think of the CDD angle at all, would actually be highly relevant given the respective locations.
Wait, so is it not a traditional buyout firm? Instead sounds like a GIC, Mubadala, etc. type seat?
I think I’d change my advice then. More debatable. I’d say I’d rather you flake for MBB or IB or a traditional PE analyst seat to keep more doors open.
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