What is the path to exit a pension?
TLDR: I am in a VP at a pension fund but there doesn’t seem to be much room to move up since no one leaves once they make it to the top and there’s not enough of an argument to “add more headcount” at the top.
What would you do in my shoes? What are the viable exit options?
Based on the most helpful WSO content, it seems like you're in a bit of a pickle. It's not uncommon to feel stuck in a role, especially when upward mobility seems limited.
One option could be to consider transitioning into Private Equity. As a VP, you've likely accumulated a wealth of experience and knowledge that could be valuable in a PE role. You might find more room for growth and potentially higher compensation.
Another option could be to consider starting your own fund. This is a riskier path, as it involves raising capital and potentially taking little to no salary initially. However, it could also offer the greatest rewards if successful.
You could also consider moving into a different area of finance, such as Investment Banking or Financial Sponsors coverage. These roles could offer new challenges and opportunities for growth.
Lastly, you might consider roles in Investor Relations or Business Development, either within a PE firm or a Fortune 500 company. These roles could leverage your existing skills and offer a change of pace.
Remember, it's important to weigh the risks and rewards of each option and consider what will make you happiest in the long run. After all, even a monkey like me knows that job satisfaction is about more than just bananas!
Sources: Private Funds Group (CS/UBS etc), Exit Opps Are Paradise, Leave banking to start a PE fund?, Exit as a VP because lost interest
Are you at a pension that does direct / buyout investing or are you purely in primaries?
Bump
Ya that’s the issue with pensions - they’re designed to incentivize no one leaving, so if you’re lucky to be at the top that’s great, but if you’re more junior there’s often no way to realistically move up the same way you would outside a pension.
Unless you’re fine maxing out as a VP, I would start looking.
Using CPP as an example, would VP equate roughly to principal?
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