MM PE Analyst - Exit Opps?

I'll keep it short: I'm an analyst at a MM shop in NYC wrapping up my second year (~$3b most recent fund, if that matters). For a variety of reasons, I've decided that my fund is not where I see myself long term and I'm looking to switch streams. 

I realize that banking probably yields more optionality, but what are some positions that would value a 2 year MM analyst stint? Is it possible to lateral to another fund, or would I need to pick up a year or two of IB experience to position myself more favorably for a senior analyst / associate role?

Would appreciate any advice or suggestions you guys might have.

Private Equity Interview Course

  • 2,447 questions - 203 PE funds. Crowdsourced from 750k+ members
  • 9 Detailed LBO Modeling Tests and 15+ hours of video solutions.
  • Trusted by over 1,000 aspiring private equity professionals just like you.

Comments (5)

  • Associate 1 in PE - LBOs
Jul 22, 2021 - 1:01am

Probably could lateral to another fund within the LMM-UMM range.

Ideally though you should probably be reaching out to HH already as most PE firms at this point are generally looking for associates to start summer of 2022 though on-cycle recruiting for that hasn't happened yet.

Most Helpful
Jul 22, 2021 - 1:41am

Following. Don't mean to hijack this thread but would like to add a few more questions that might be helpful to those in a similar situation as OP:

Which MM PEs have analysts programs that would offer the greatest upwards mobility to UMM/MF? Do any MM PE analyst programs consistently send analysts to top HF? When would you consider taking top EB/BB over an MM PE analyst program (or vice versa)?

I've also heard PE isn't the place to jump around, does this mean that it's better to start in a top IB group with the intention to move to MF PE than to start in MM PE with the intention to move to MF PE?

An increasing number of students who are interested in investing are choosing to go directly to the buyside nowadays, so it's important that people know how to fairly evaluate and compare buyside vs IB options out of school for their specific goals down the line. Hope this thread helps students in making this tough decision.

  • Investment Analyst in HF - EquityHedge
Jul 23, 2021 - 10:48am

Have had a couple friends in your position. Should be successful interviewing for associate roles at other funds. No problem getting interviews. Obviously make sure your skillset is up to part with people who did IB. Just make sure you can explain how you were involved in deal processes outside of just sourcing - b/c that's what a lot of these roles end up being. 

Start Discussion

Total Avg Compensation

July 2021 Private Equity

  • Principal (7) $694
  • Director/MD (18) $575
  • Vice President (66) $368
  • 3rd+ Year Associate (68) $270
  • 2nd Year Associate (137) $254
  • 1st Year Associate (276) $224
  • 3rd+ Year Analyst (25) $160
  • 2nd Year Analyst (61) $135
  • 1st Year Analyst (177) $118
  • Intern/Summer Associate (19) $70
  • Intern/Summer Analyst (210) $59