Is it hard to try and move to Los Angeles after analyst years?
I'm starting at a BB in NYC after graduation (currently a senior). After I am done with my 2-3 years as an analyst, I would really like to relocate to Los Angeles. My group at the bank places well into MM PE with some MF but its pretty much all New York because everyone there prefers it. Nobody I've asked (just analysts) can tell me how placement is in any other city because everyone stays. My school is on the East Coast and has significantly more alumni in NYC that LA. Have any of you been able to make this move under these same circumstances? I lived in LA for several years before moving to the east coast for high school and college and I would really like to relocate back to Los Angeles before I turn 30. While I am interested in PE for the most part, if decided to and had the opportunity to continue as an associate at my bank, then I could make the switch relatively easy so my question is directed at those who've made this move in PE. Thank You.
Yes definitely possible. When you start PE recruiting, just tell the recruiters that you're interested in LA positions for the reasons you stated. Definitely a lot of opportunities for east coast bankers especially in LA where there isn't a huge IB presence to recruit from.
I think Carter Pierce specializes in cross coast post-IB roles.
Would you say LA spots are less competitive? My only reservation about LA would be if I decided on an MBA because then I'd have to make the trek back East for two years.
Less competitive, but also fewer positions. I wouldn't worry about the MBA issue. 2 years spent in a new locale definitely sounds worth it - you'll make another group of friends, enjoy warmer weather, and become a more interesting person honestly. You want to make these aggressive moves while you're young. Your friendships on the east coast are not going away and you can always settle back on the east coast.
Just curious but why do you want to move back to LA from NYC? It sounds like all of your friends and family are on the east coast. I met someone once who told me they wanted to move from NYC to San Fransisco because they always wanted to live there but decided against it because everyone they knew was now in New York. If you have friends and family in LA then I get it but from what you're saying, that doesn't seem to be the case.
You're right that all my family and friends are in the Eastern part of the country now. I have time to make any decision like this. Mostly comes down to weather and nostalgia.
Apart from Joe Rogan and weed what is the appeal of LA?
Well LA girls for one. But more seriously, the weather is a huge thing for me. I go to school in Massachusetts and I cannot stand the winters here. Also I just loved the vibe in LA growing up. I got an SA offer in LA last year but turned it down for the NYC BB because of the opportunities being in NYC and a BB will provide. After I settle in a field though, I want to go back.
Sun kissed skin so hot they'll melt your popsicle
It was a sarcastic question :p
I made the move myself and it wasn't hard at all. LA banks and buy-side firms prefer local candidates (obviously) but the talent pool is thin so they regularly recruit from other cities, especially NY. Definitely agree with contacting Carter Pierce, they have relationships with the best funds in LA.
Moving back to NYC tho is a struggle and a half so I would make sure you're 100% sure about this.
What about MoCo LA and CS LA? Is it true that many of those guys move to SF/NY?
Can't speak to those two firms specifically, but generally speaking all analysts in LA get a lot of HH emails for SF roles as well as some for NY.
Why are local candidates obviously preferred?
This is pretty straight forward. Starting at a basic level, why cast a wide net when there is plenty of talent local to begin with. Logistically it's easier and its cheaper - don't need to pay to fly candidates out, provide relocation packages, etc. Second thing is removing any potential risk of a person not liking a new city and eventually moving back - clearly not right away but you'd want to avoid a stepping stone "out it would be fun to live here for 2 years" type. Then in all likelihood there will be a greater cultural fit of person already in the city and even more so if they grew up there. Less of a main driver but there is also a component of supporting the local finance ecosystem.
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