Sorry if this is repetitive, but the answers I have gleaned from Search have been scattershot.
I'd like to know how the stress levels compare between IBD and PE on a daily basis. Also, within the PE firms, do some have a worse reputation in slamming their junior people than others?
I did SA in IBD when I was in college, doing consulting at a sub-MBB right now, and thinking of switching into PE.
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Stress levels don't even come close. PE has far, far, far less stress than banking. You don't report to any clients, so if you miss a deadline, it is hardly a problem - you just push back the deadline.
Of course, maybe that's just my shop. The megefunds and large cap shops may have very different cultures.
Where do you work, if I may be so bold to ask? Low stress sounds like a definite selling/applying point.
MM PE
I actually disagree with CompBanker. While the stress of working endless hours perfecting a pitchbook for the morning meeting is "stressful", having to prepare an analysis and answer actual questions to people with real money ridding on your analysis is more "stressful" in my opinion. I've never taken a shot before walking into the Monday Meeting when I was a banker....
I suppose it is all relative, but I tend to agree with CompBanker on this. Granted I work at a small boutique PE shop, and I handle stress pretty well, but one of the first phrases I learned when I started this job was "pushed back". Everything gets pushed back and rearranged/rescheduled. Sometimes I've responded to emails that got buried in the inbox and that were weeks old and the bankers are usually apologetic about not reaching back out or updating me, when clearly it was a result of my busy schedule, not theirs. If someone finds PE more stressful, that is probably more a function of their personality than the job requirements.
Regards
Correct me if I'm wrong, but you never worked in banking and you work for a very small PE shop, directly out of undergrad, right?
PE is inheirantly a more stressful environment. It is a basic principal. If someone has their own jack on the line, their own reputation with every decision, it will create a more stressful environment. If you view stress as banging out a powerpoint deck with perfect formatting, you have not yet felt real stress. Trying making the wrong call on an investment which costs everyone around the table an amount equal to a new house.
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