Hi all. I just finished my second year as a PE analyst at a well known MM firm and got promoted to associate (started in PE out of undergrad). I had a friend reach out about a potential lateral analyst opportunity at a top BB group in an industry that I'm interested in. My ultimate goal is to work for an UMM / MF PE firm and then maybe do B school.
I'm considering interviewing because the BB is a better name than my current firm and I'll be working on bigger, more complex and industry specific deals which would probably be a better experience. I know I want to do PE in the long term and I'm not interested in being a career banker so not sure how firms would view someone who left PE to do IB and then try to get back into PE (seems somewhat awkward?). I am getting decent traction with HHs and other PE firms with off cycle processes currently but maybe the BB will give me a better name / better experience to recruit in a year?
Would probably need to stay at the BB for 2 years if I do it, but think I could spin the story that I wanted a more traditional IB experience and wanted to go back to PE because I think investing is more interesting.
Any advice / perspective on this? For reference I don't want to stay at my current firm because I want to get more industry specialization sooner and I don't love my current firm's culture. Thanks in advance!
What level would you be joining the BB at? An1 or somewhere closer to associate?
Would be An2 but would need to stay for 2 years
Granted I'm not in PE - but I'd imagine you could try to move to another MM PE firm for your associate stint (assuming that moving upmarket to UMM/MF is not an option). If you did another 2 years at a reputable MM firm, particularly one that places well into B-Schools, you could try to recruit for a UMM/MF out of B-School. If you are already getting success with headhunters for PE roles, I feel like going to a BB would be two steps backwards. Further, even with the story you'd want to spin, I'd expect that a UMM/MF could view the transition from PE --> IB as a sign that you couldn't make it in an investing role and would reflect negatively on you.
Who fucking knows though man - with all the success you are currently having, I'm sure you will end up in a great spot!
PE to IB to PE seems strange and would likely be tough to explain. Maybe people wouldn’t believe you. Why not two years as an associate then an MBA?
Worked in PE out of undergrad and think this is a very odd move. Why not recruit for UMM/MF PE associate jobs now? If your firm is well known and you got direct promoted to associate, then you should be able to make this move directly.
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