I would like to get your input on my situation and offer.
I'm currently a third year at a top MM IB in a major city. Was late to recruiting so I've been doing off-cycle. I've received an offer from a lower MM (250-500m fund size) PE shop that has a solid track record and is well respected. It is in a small "Tier 5" city (think Indianpolis or Kansas City) that I don't mind being in for two years, but would definitely not want to stay long-term. It is a two years and out program, so that works out well.
Two potential concerns that I want to get your thoughts on:
1. The pay is very below market. It is between 100-140k all in. From what I've heard from my network, this firm will mostly likely not be willing to move on comp.
2. How hard would it be to recruit from a LMM PE shop in a small city to a LMM/MM fund in NY or LA after two years? Would an MBA make the most sense?
I don't want to stay in banking long-term and am coming up on the end of my third year. Promotion is possible, but I know recruiting as an associate is harder.
Should I take this offer? Or wait and keep recruiting off-cycle over the next 6 months? Are PE offers (even below market) really as hard to come by as everyone makes it seem?