When to start lateraling as a PE associate
Just started at a decent PE fund a month ago as a first-year associate, but for certain reasons (namely geography) I'd like to leave.
Willing to restart as an associate 1. How long should I wait to recruit? Should I start taking interviews now, or should I wait 6 months?
Two things determine this: 1) How good is the firm's reputation, learning, and exit opps? 2) How much do you hate the location?
If it's a solid fund with good deal flow and exits, do your 2 years and lateral into senior associate roles (ideally with a promotion lined up). If you hate the location, give it a real chance first. Re-evaluate at 6 months. I moved to Boston for PE with reservations and thought I'd hate it as a born-and-raised New Yorker, but I've built a life here over 4 years and wouldn't move to NYC now. Location can grow on you once you build a social circle and stop seeing it as temporary.
That said, if after 6 months you're still miserable, lateraling is an option. But understand the resume hit, 2 laterals within 2 years will be a black mark, so that means you simply cannot leave whatever fund you join next. If you can't make it 2 years somewhere, especially at a good fund, PE probably isn't for you. Only lateral early if the place is genuinely toxic or you get an unreal offer you can't turn down.
Ya double tapping on what the other guy said … locations do grow on ya, but there’s also a limit to this. I have some good friends in SF and do think the ppl are genuinely a bit nicer and less snobby than New York , but man there’s nothing I’d do to get back to New York hinge and a functional subway connecting the entire city etc etc etc
People keep saying there's a huge difference in dating between SF and NYC - do you think that's really the case? I'm sure there's some difference across major US cities but outside of professions (i.e. more finance in NYC vs. more tech in SF) don't think the delta can be that big?
Have done both. SF dating sucks and you have better odds moving to SF, flying back to NY and try to convince them to move to SF than you do getting a girl in SF (that you’d actually want to settle with)
Agree, you only get so many moves before it draws scrutiny.
I’d think hard on whether it’s worth using one of your bullets right now versus saving for a reason more core to career trajectory (unlock a promo, better culture, new sector, etc.).
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