I'm trying to get a better gauge of the careers in and out of IB. While the 2 year stint in PE out of IB seems very lucrative/prestigious blah blah, it seems like most shops kick you out after 2 years and you're expected to go to bschool. Some questions surrounding this path:
1. What kind of shops allow you to continue in PE beyond 2 years, and how does that career progression look?
2. For the 2 IB/2 PE/ 2 bschool kids, what percentage of kids who want to come back to PE actually successfully make it back? Obviously there much fewer principals than analysts at PE firms, but then again, many ex-PE analysts don't want to stay in PE after bschool.
3. As a matter of fact, I hear that a lot of ex-PE kids who can't make it back to PE after b school end up back in IB, which is unfortunate because they would be starting as 1st year associates again whereas their counterparts who stayed in IB are now almost VPs and have not paid for bschool AND made money for 2 years along the way (of course they don't have the benefit of the 2 year bschool vacation and the degree/connections). If this is the case, doesn't it make the "IB-for exit opportunities" thing a lot less attractive? To continue my rambling, if you're going to do IB/PE just to go into bschool and do not go back to IB/PE after bschool, why not go into something that will give you a broader/less soul crushing exposure, similar exit opps, and a better shot at bschool like consulting/start up?
4. Let's say you do "make it" back to PE after bschool. But let's say your fund blows up or you want to do something else. What are you options like out of PE? Can you go back to IB or go on to corp dev?
5. After writing this post, the merits of a career in sales/trading becomes a little more attractive. You can start in trading and make your way around the street/HFs working 50 hour weeks/no weekends along the way. Sure you are "pidgeon-holed" but it seems like any career will pidgeonhole you at some point, and only when you specialize that much does the real money start flowing in. Unfortunately, I don't find trading that interesting, and I am truly envious of those who have the market/trading-bug. See my post below for why I am leaving sell side trading: