Should I leave my cushy PE job for a role at a mega fund?
I currently work at a REPE firm, and my TC is roughly $130k a year. I'm on track to be promoted next year to an associate and should make roughly $170k. However, the firm's performance hasn't been great since covid and I don't think everyone will get their full bonus. My hours averaged about 50 a week last year, with some late nights.
I have an opportunity to jump and leave for a mega fund (think KKR/Carlyle/Apollo) in their PE group. I have been mentored by one of the higher-ups and he is pushing for me to join. We have not discussed comp in detail, but it would be much higher than my firm's. Is it worth it to leave my comfy job for higher comp and more opportunity?
I love all of my coworkers and my manager. The vacation policy is great, and I haven't had an issue with time off. But my firm does not promote very often so I'd probably be stuck as an associate for the next five years, minimum.
As an associate at the megafund, I would assume my hours would be bearable (I'd have a shorter commute too). I'd need to learn a new asset class, but it shouldn't be too hard as I am great with excel and have study material. I'm honestly not sure which I should choose. More money will help me reach my life goals faster. And being at a much bigger firm will open more doors in the future. But I'm happy with my life right now and lucked out with a great manager. Any thoughts?
I would say hands down take the MFPE offer unless you’re really passionate about real estate (doesn’t seem to be the case). You can always move down market if WLB becomes a concern. Plus, having someone actually batting for you at the MF is huge and you’d be getting a huge comp acceleration
This was helpful thanks. I like real estate, but nowhere near passionate about analyst work. Everyone just overcomplicates things when there's genuinely no "creative" way to drive value. At least none that us and 10 other groups could figure out.
Your WLB will def suffer but every other aspect will greatly improve.
Gotta decide what’s more important to you
From a WLB perspective, it's probably worth it long term too as a role here is a great resume builder.
Yea 100% with the others. Depends where you’re at in life and what kind of WLB you are looking for and/or can negotiate. If you’re already putting in 50hr/wk I would advise you switch but leave on good terms with everyone if possible.
Yes, 100% make the move. It’s worth it!
Agree with others that it probably makes sense to make the move, but get ready to strap in for a more intense experience.
Just crossed into my second year at a MF and totally burnt out. Same for most of my class. Start questioning everything when the “few deal sprints a year” people talk about become a string of sprints for 7 months straight…
I think the best part about working in large cap PE is that it teaches you neurotic perfectionism, responsiveness habits, and unparalleled endurance that you simply do not lose for the rest of your life. Those are worth just as much as the brand name alone because they guarantee that you will impress people at first glance wherever you work for the rest of your career.
Is this humor?
That's true, agree
So you'd be switching from REPE a a small shop to a more generalist role at a MF? Look, you're going to likely get crushed but for the comp and the brand name, I think you pretty much have to take it. That's a swtich that basically no one makes and to be in the unique position to have a mentor basically giving you a job is an opportunity that could define your career path forever. Take the path of discomfort and see if you have what it takes to grind it out for a few years (which I'm sure you do). If you hate it, you can leave after a couple of years and be in a way better spot overall. Take the job.
Going a bit against the grain here. Mainly just want to say that a self-described “cushy” job isn’t something that comes by super easily, so if you’re interested at all in preserving that, maybe give it a second thought. Also I wouldn’t necessarily assume your hours will be “bearable,” but if the progression, comp, and prestige are things you care about, then certainly can’t blame you for making the jump. I do think that based on your comments you already know which way you’re leaning, and this crowd certainly won’t be one to talk you out of it. As long as you’re confident in whichever one you prioritize (career growth vs. WLB), things will likely work out.
what will you do when not promoted in cushy job. regret of passing this up will be huge. been in both seats and take the offer if you can do the hours and want to be in this industy long term. will suck short term andyou WILL question it in tough hours. just comes down to the amount of ambition you have - is the job to pay bills or do you want to aim higher? no right answer
Mate, irrespective of the decision you make, I want to applaud you for your networking skill. To have a higher up at a MFPE backing you is a testament of your fantastic skill.
That said, having MFPE on your resume will set you up for life. It will be extremely tough, work hours wise, but honestly speaking, you'll learn more, network better especially given your skill, and find plenty of cushy jobs in or outside PE after 2-3 years with your mega fund experience.
Extra money, fantastic exit opps, long lasting network at the cost of more hours and terrible WLB (worst case).
Rimiru ftw
Idk I’m a 1st year analyst so w oncycle going on, trying to be intentional with how I engage and resist empty prestige chasing. Everyone in this thread has said the MF exits will be great / set you up for your career. What does that actually mean tho? Like I’ve worked at an allocator and the brand definitely helps at like first time / newer funds seeking LP money, but how much does it really matter outside of cases like that? I guess tbf that / HFs are just not something I’m interested in but
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