Seeking Advice on IB Analyst vs. Investment Firm Opportunity
I have two options: join full-time as an IB Analyst or start as an Analyst at an investment firm with a potential path to becoming an independent sponsor in around four years, with significant upside from the deals I work on. I honestly plan to exit to LMM PE after IB. What would you guys suggest: take the IB route or pursue the independent sponsor path at the investment firm?
IB - best training/experience plus pedigree and maximizes how many doors stay open
Any insights on LMM Independent Sponsor Comp for analyst/associates in Tier 1 cities?
I’d be totally guessing but meaningfully less than equivalent at a traditional fund, maybe 30-40% haircut to MM comp but get carry??
Seems right, but carry is TBD and could go to $0. Prioritize cash early in your career.
Comp likely lower than median IB/PE
I would go IB.
First, it opens more doors down the line and is viewed as traditional. Makes recruiting for PE Associate roles a LOT easier. PE Analyst > PE Associate is not traditional, especially from an emerging manager. People will question your fundamentals more.
Second, odds are the emerging manager doesn’t make it that far
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