Hey guys,
So, my friend has 3yrs experience doing asset management for an MM REPE firm. He says it's more of a hands-on role rather than lots of hold/sell analysis type work, although he says he still does do some modelling here and there.
He's been offered a role at a much smaller, new shop doing acquisitions (which is the area he wants to work in). However, as the shop is fairly unheard of, he is nervous about taking the role, but is similarly nervous about spending more time in asset management due to the fear of becoming pigeonholed.
This got me wondering, how long can one stay in such roles until they actually do become pigeonholed? 3yrs? 5yrs?
Would be interested to hear opinions on this.
Thanks!
You get pigeonholed as much as you let yourself be pigeonholed. You won't be able to work in AM for 15 years and then move over to being a MD of acquisitions, but that's because you don't have the requisite job experience (which I guess you can construe as a form of pigeonholing). If you spend 3 years in AM and can move to a new shop doing acquisitions as an associate, you'll probably be able to do it at 5 years as well, but you need to figure that it'll be the same title and salary (i.e. those two extra years of AM aren't boosting your profile much).
To give you a straightforward answer, I’d say five years is probably the longest you can do without being pidgeonholed. Most folks I see make a transition to the principal side, do so after 2-3 years. Once you get to mid-level/senior, it becomes incredibly tough because in those roles, you are expected to hit the ground running and will be given minimal, if any, training. Hence why folks go get their MBA then land senior associate or VP roles.
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