How much time do you usually have between IB and PE?
Hey guys just a simple question, how much time off do you usually have between finishing up your IB job and starting your new PE job? Would be great to hear some people’s experiences on this.
Hey guys just a simple question, how much time off do you usually have between finishing up your IB job and starting your new PE job? Would be great to hear some people’s experiences on this.
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We try to give our new associates at least two weeks off, particularly if they are moving cities. In some cases we've given 4-6 weeks. In general our goal is to have all our new associates start on the same day and perhaps have slight overlap with outgoing associates. Not always possible, but that's the objective.
Anywhere from 2-6 weeks is standard, with the middle of that range being what I've seen most often. Try your best to get as much time off as possible -- once in PE vacations will no longer be as relaxing (because you're kinda always on call if something on one of your deals or port cos blows up). Also, likely no one will remember or hold it against you if you try leaving your current job a couple of weeks earlier than they want you to, as long as what you're requesting is reasonable (i.e. within that band I highlighted above).
Maximize your time off, after banking I took a full 2 months prior to starting my first pe gig and swung about 6 weeks for the next gig after a year of working at my first fund. I think you should make a strong push for at least a month after banking
I had five weeks off and was moving to another city. I only took one proper week of vacation in my two years as analyst, and thought the gap between jobs was a good amount of time to get some real vacation in along with settling into the new location.
I'd say that three to six weeks is pretty standard for traditional on-cycle starts (i.e., after two full years of banking).
I took 3 weeks.
4 weeks for me. From people I've chatted with in the industry, you should take as much time as possible...also do something fun, your youth dies fast when you work in finance ;(
I've switched jobs twice in a relatively short 5 year career, and both times managed to get about 2 months off. I can't recommend it enough, if possible. The time you can get while you're young and have no restrictions is fleeting, and I managed to have some of the best experiences of my life during my time off.
The first time was easy, as I was in consulting and my project was wrapping up, so it was an easy excuse to drop off then.
The second time, when I was leaving banking for PE, I was getting pushed on both ends - to start earlier at the new job, and leave later from the banking job. I had hardly taken any vacation in my two years of banking and communicated to my new team that it was important to me to start a new job fresh and ready to go, and they were receptive to that. I had a great relationship with my staffer / MD at the bank and communicated the same. I was supposed to get about 2 weeks, but both my current team and the old team budged by about 3 weeks, leaving me with a great chunk of time.
Probably less common, but if you're not coming in on a cycle at a large fund, I would try to make that happen. It was also a good time for me in the pay cycle, so I was less concerned about that.
Last point - this is going to depend on your personal priorities and financial situation, but I was very willing to "buy my time"and forgo compensation in order to give myself the opportunity to travel and re-set.
Guided Adventure Trips for vacation time between IB and PE? (Originally Posted: 07/22/2010)
All -
So I have about a month off between the end of my analyst program and when I start at a new firm and wanted to take a trip to a place like Alaska or Patagonia.
I know companies such as NOLS (National Outdoor Leadership School) and REI Adventures offer this type of guided experience, but a lot of the 2-3 week trips look geared to much older people (35+).
Anybody been on any of these programs to comment on quality, overall age group, etc...OR have any other good companies to reccomend outside of these guys?
Any help is appreciated. Thanks.
It depends on how extreme you want to go. If you're looking for a fairly tame outdoor experience, I can't really point you in any direction. If you're interested in hardcore jungle survival training, however, I might be able to help out. Feel free to PM me if that's the case.
Can you post it here for the benefit of everyone? I would be interested in reading your suggestions for this. Also, are these trainings very expensive?
IBIZA!!!
Just curious, why do you think that info would benefit everyone?
Is there a survivalist sect among Wall Street that I'm not aware of?
Absolutely.
Ah, Marcus. If anyone else had copped to it, I might have doubted.
Give me a day or so to see who's still in the business, and I'll post it.
I wasn't always a monkey.
there's only one place to turn to for adventure traveling
www.tuskertrail.com
If you're serious about adventure, check out Mountain Madness. Been on a few of their expeditions (including Everest) and they are fantastic.
CaptK,
The buddy I ran the encierro with brought me Emergency when he came over, and I've got about 30 pages left. I think it's worth reading just because the story is hilarious, about how a city kid realizes how coddled he's been and that he wouldn't last ten minutes if the shit hit the fan. I'm paranoid, and I know that about myself, but Neil Strauss is off the charts. Very fun read. And yes, I'll list a couple of the courses he attended when I get a minute. Good suggestion.
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