Stay in IB for 3rd year or leave to PE firm portfolio company
Hey - looking for advice from folks in PE.
I have a PE offer for next summer and finishing up my 2nd year in IB. Not sure if I should stay on as associate - my group is pretty sweaty / toxic, extremely long hours and late nights including weekends, although I’m learning a lot. My other option is working at the current PE firm’s portfolio company (same location, UMM firm).
Pros of 3rd year banking: staying 1 more year in banking will give me great skills and prepare me for UMM PE.
Pros of portfolio company: can leave sweaty group, will be nice to get a new perspective working at the port co.
Any advice is appreciated!
Bump
Ignore title. Have held a couple investing roles plus some odds and ends.
Take portco. It will make you more relatable to the execs. Then you'll get staffed on that portco and come in with a headstart over your class.
I remember my CFO at one portco bitching about my junior partner calling him a moron who had no clue for value creation because he had never actually operated a day in his life.
Helpful for bschool too. Regardless of intent just good to keep options open.
In short, don't think it can hurt, only upside. Banking 3y is for chumps. You either know enough now and you'll kill it on the job, or you don't. The edge cases in between are too narrow to solve your career around.
Good luck!
Would absolutely do the portco and not even close. Good operational experience, you'll come in way ahead of other ASOs, and honestly you've already learned plenty in banking... phoning it in for a third year will not be some huge learning opportunity.
Also it might be nice to live a little before going back into the gauntlet (not that portco will be a breeze). Can’t speak for anyone else, but I’m sure future me would value that free time over another bleh year in banking + accompanying pay differential in the same case.
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