ER to IB Switch at Mid/Senior Level?

nextstepmonkey's picture
Rank: Chimp | 5

Hi All,

I've worked in ER for ~ 8-9 years, (5 years as an associate and 3-4 as a Senior covering analyst) at a MM bank. Given the negative trends in ER, its tough to envision this as a long term career. As a result, I'm looking to make a switch to a new role either on the IR/corp dev, investment banking, or potentially the buy-side (though pressures exist there as well).

I'm considering an offer covering the same industry at another boutique on the IB side (primarily M&A advisory) as a Senior Associate, with some line of site to VP level within 1-2 years. Compensation will be slightly higher vs. my peak as a Senior analyst.

Pros:
-Opportunity to deepen knowledge of the sector and work with private data
-Increase transactional experience and ability to leverage into a Corp Dev corporate role.
-Less structurally challenged vs. ER.
-Opportunity to leverage management relationships already built on the ER side
-Less travel initially
-A better line of sight to future professional growth

Cons
-Longer work hours/ worse work-life balance
-Lose contact with buy-side clients
-Reduced day to day company management contact in near-term
-Moving from running "own" franchise in ER to being beholden to multiple MDs/VPs

I'd love to hear thoughts from anyone who has made a similar move and thoughts on the pros and cons.

Also - happy to answer any questions anyone has on the ER career trajectory in general!

Thanks!

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Nov 20, 2019
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