Senior IR Lifestyle
Hey all — I've recently been interviewing for PE/HF IR fundraising roles and wanted to get some color on what the lifestyle looks like at the senior levels: % of time spent traveling, number of hours worked, how often fire-drills come up, etc.
Without getting into it too much: my parents both worked high-pressure jobs while I was growing up and had very little time for me and my siblings - which is a situation I absolutely want to avoid as I'm hoping to have kids in a few years.
My background is 3 years of investing experience at a hedge fund and 2 years in IB before that, in case that's relevant. Thanks in advance.
Based on the most helpful WSO content, here's what you need to know about the lifestyle at senior levels in PE/HF IR fundraising roles:
Travel: The amount of travel varies significantly depending on the firm and the fundraising cycle. Some senior IR professionals spend over 50% of their time on the road, while others may only travel a couple of weeks per quarter. Larger firms or those actively fundraising tend to require more travel.
Hours Worked: Senior IR roles generally offer better hours compared to traditional IB or investing roles. While some report working 45-50 hours per week with rare busy weeks, others have experienced 80+ hour weeks during intense fundraising periods. The lifestyle can depend heavily on the firm's culture and the product being raised.
Fire Drills: Fundraising can be unpredictable, and fire drills are not uncommon, especially when dealing with demanding LPs or tight deadlines. However, the frequency of these situations depends on the firm's processes and the seniority of the role.
Work-Life Balance: While some senior IR professionals enjoy a more balanced lifestyle, others have reported long hours and constant connectivity (emails, calls, etc.). The degree of balance often depends on the firm's size, fundraising activity, and the senior team's expectations.
Key Considerations:
Given your background in IB and hedge fund investing, you likely have the work ethic and skills to handle the demands of IR. However, if prioritizing family time is critical, carefully evaluate the firm's culture, travel expectations, and fundraising intensity during your interviews.
Sources: Thoughts on Investor Relations? A good or bad move?, The reality of HFs, What’s the deal with Investor Relations?, Best lifestyle PE firms in terms of hours work, comp/size doesn't matter, Direct PE to Pension/Endowment
I'm more familiar with the PE side of IR so I'll answer from that perspective and assume by senior we can assume Director / MD-level. There are two different paths most folks take - the first being Product Management (more internal, content-creation, strategy, etc.) and Sales / Distribution (what most folks assume when thinking about IR).
The Director / MD Sales folks I know typically spend a significant chunk of time travelling (e.g. not uncommon for them to be on the road 3 weeks per month) as there's always a conference, industry event or LP connection that necessitates it. SuperReturn is coming up and the folks I know have absolutely packed schedules there.
Their days are generally quite long, sometimes 4-6 meetings a day including a client lunch, dinner or drinks and then trying to catch-up on their inboxes back at the hotel room in the evening. It's a rough life despite the perceived glamor of travel and 'wining and dining'. For those who have kids it typically requires a partner staying home (or having a much more flexible / remote schedule) and/or outsourcing a significant amount of housework. Expect to take a lot of Monday morning red-eyes so you can maximize time at home.
Fire-drills aren't super common and when they do happen the seniors are less directly involved. For example, ADIA might ask the coverage MD for a time-sensitive request on all of your fund's software-related exposure by NAV (due to recent market news) which they'll pass along to their junior team to track down.
Thanks for the color, very helpful. As a follow up, where do you see Associates/VPs exit to if they decide the IR lifestyle isn't for them?
The majority typically tend to stay within IR but I've seen a handful go to B-School and 1-2 Associate-level hires move into roles like corporate strategy. Pretty wide fan of outcomes though.
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