Are PE analyst programs still the way to go?
The difference between junior IB and PE comp is even larger now with banks raising comp across the street. I signed for 2022 SA at a UMM/MF that doesn't have a reputation for paying well, but now, I am considering recruiting FT for a bank. Why wouldn't I just spend two years making more money and then move to a similar caliber PE firm as an associate? Am I missing something? I have no interest in hedge funds.
Congrats on the offer, I think you have to think about a few things here. You have to consider if you can actually get a spot out of IB at an UMM/MF because it is far from guaranteed. Second, you also should consider job fulfilment - will you enjoy building out your skillset as a PE investor or the more sales/pitching orientated role in IB
Bump! Also, does anyone know if any UMM/MF or established MM PE programs will raise pay for analysts after most banks finish doing so? If so, which ones?
WP did I think. No word elsewhere
Ares did as well.
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Bump. What did Ares bump base to?
Bump, also curious.
We’ll see how comp shakes out for these roles in a month or two, so comparing on that axis doesn’t seem fair right now.
Like everything else in life the choice depends on what you want. If you’re at all interested in the investing world, I think that it makes sense to take the PE analyst offer.
Optimizing for $ right out of the gate is very short-term thinking. Long-term career earnings are what you should be focused on, and if you can get in at the analyst-level at a strong PE that promotes from within why would you not want to start developing the PE mindset from the start? If it's a 2-3 year up and out program or you're not sure you want PE in the long run then sure, banking is probably the better bet + you'll get more comp early on. But if PE is the long-term goal, I'd say take the analyst slot at the established shop.
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