- did a degree at a top 10 undergrad
- a few years consulting at a small place focused on industry A
- Went to top 10 MBA
- Did internship in strategy for largecap firm in industry A
- Switched to banking and got post-MBA Associate role at mid-tier BB covering industry A
- Spent about a year in banking, didn't get any live deal experience at all
- Had to take almost a year off work due to health reasons (left the bank)
- Took mid-office role at large PE/HF
- A year in, I pushed for a move to investing team with a semi-ultimatum, got shot down, they found out I was interviewing and I got pushed out / asked to leave.
Since then (3 months ago), I've been interviewing a ton, mostly trying to land a role back in IB and had interviews with BBs, EBs, MMs, even a couple crap-tier places... nothing I could get to an offer. I've had a few investing-focused interviews, consulting, you name it. Counting the interviewing I was doing before I got pushed out, it's been almost 6 months that I've been interviewing.
I've finally gotten some offers, but I'm not sure about their prospects.
- One is an equity research associate role covering industry A. This is at a pretty small place (Cowen, Piper, etc.). Salary is ~75% what a fresh post-MBA ER associate makes at a decent firm, and bonus seems a lot lower
- The other is an IB Associate role at a 3-4 man shop with just one MD. Salary is about the same as the other offer (trying to negotiate it up, bonus is who knows? They close deals pretty irregularly. These are $5-$25 million transaction size deals when they do get done. They don't even have a real health insurance plan (I'm married and might be having kids soon; who knows what happens to wife's job).
I'm not sure either of these places are things I can do for more than a year or two, and I have ~30 years left in my career.
ER is dying eventually, so I'd need to either move to an investing role eventually (tough) or some kind of corporate role in the industry.
With the banking job, is going to such a small place going to prevent me from going to even a solid MM shop afterwards?
I'm not sure what sets me up best for the long term. I don't know exactly what I want to do but feel like I'd be OK doing a few different things as long as I know I have decent career/earnings prospects.
Would appreciate anyone's thoughts or advice.