Current mid-level PE professional here. Have been on the "track" since college and starting to question where I'm headed. Curious what others in the same boat have been thinking in terms of rationale for staying in PE long term vs. leaving for something else. And if the latter, what is sufficiently compelling? PE is of course a long term game, so it behooves you to stop wasting time and get out early if it's not for you. Lots of friends have been starting businesses (and I don't mean pie in the sky tech startups, but real estate businesses, SMB roll ups, that sort of thing) that have potential for massive wealth creation over time, which makes the tradeoffs of PE (grinding, forever, for relatively modest but hopefully substantial wealth you won't get to enjoy as you keep up with the joneses and continue to grind) seem increasingly out of wack. The other end of the spectrum - some low stress low six figure 9-5 job that allows total freedom outside of work - is also starting to sound compelling. So are you guys in it for the grind to partner long-haul? Or looking to pivot to something lower stress? Or doing something inbetween?
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End game? Receiving carry distributions across multiple funds.
So you're in it for the partner track long haul? What kind of firm (fund size, strategy, geography) do you work at? And how is your work life balance?
Yea, already receiving carry - I work in secondaries, so work/life balance is much better.
Nice, what age do you expect to retire? And what do you expect your net worth to be at that point?
Retire between $5-10mm net worth which basically is getting to the level below partner and hanging on for a few small number of years - trying to do it by late 30s realistically. Then off to play with the kids, travel, and work on passion projects. Life is too short to grind this out IMO. I don’t need anywhere near partner level money.
Nice, realistic and respectable. Are you avoiding lifestyle creep as you earn more?
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