Underrated FT Options for IB SAs
This summer I'll be an IB SA at an EB in nyc. I've seen success stories of people going alternate non-IB routes for full-time to great success, so I wanted to see if there are any other opps I should keep in mind besides IB.
Some examples I had in mind: analyst positions in MM/UMM PE and growth equity (I'm excluding MF analyst roles because I'm not a finance demigod at a top target), analyst roles in direct lending (e.g. Ares), AM roles, VC analyst roles, possibly even HF roles.
Are they any more? Any specific firms that like to hire IB SAs for full time? Ideally, I'd be looking for a similar comp range with the opportunity for associate promote from the analyst program.
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Maybe underrated was the wrong word, perhaps "non-traditional" is better. But still, from my experience 99% of people at my school focus only on IB and exit later. Most people I've talked to weren't interested in going straight to PE/VC/HF/etc. because you lose the IB resume stamp and the options is gives you.
It's impossible to say what I'm interested in, the main point of this thread was to get ideas of other areas of finance to look into.
IB is okay and I'm not against going into it, but I'm viewing it as a means to an end (some exit) and realizing that perhaps I can reach those ends without IB anyway.
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Yeah that makes sense. I go to a semi-target so we didn't really have many analyst opps available besides IB
At an EB (Pjt/evr/cvp) and I had a FT offer for a MM/UMM fund (latest fund size $3-4bn). A couple things to consider that made me pick the EB.
1) training: A lot of MM/UMM recently started analyst programs (back when I was interviewing many firms barely had track records for A2A promoted) didnt really want to risk that. At an EB you know that you’ll get good training and honestly at least in IB A2A is sort of a given
2) class size, while EBs aren’t big themselves (my class was ~20ish) the PE offer I got was only 3 analysts. I enjoyed the camaraderie aspect of IB and later on all these analysts will become valuable friends/network down the line. Also since PE is naturally smaller what if you don’t like 1-2 individuals in the group? You’re shit out of luck. Whereas in IB you can talk with the staffer and many md/vps that you can work with/for
3) opportunity: while I do think you can go anywhere with a UMM/MM PE background what if you go to a MF growth equity shop? You’re sort of stuck there and you won’t even have the modeling skills to compete with actual IB analysts, EB/BB just seemed like a safer bet
4) $$$, I’m sure that PE will also pay competitively but at the analyst levels I think EBs (the ones I mentioned) probably outpay 95% of all PE firms. Granted after tax its probably $10-20k difference and wouldn’t put too much weight to it.
I’ll be heading to a similar UMM after my analyst stint ($5-6bn fund size). So I guess both routes would ultimately lead to the same place but I think EB would be the safer route.
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