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IR at pubco
If you really want to be in deals then yeah you have to pivot out of ir; unless maybe ir at a highly acquisitive pubco
I guess people have a tendency to categorize folks. If you can do one thing well, they expect you to do something else not as well.
Of course this line of thinking is garbage. The more effective you are in IR the better you can understand perspectives and deliver on deals.
It can be hard to break the mold of the IR persona.
Why do you hate it?
I got into private equity because I like to look at different companies, technologies, management teams, and ideas. I am in it for the intellectual curiosity. AlIR are is dialing for dollars. It is making lots of calls, telling the same story hundreds of times over, answering the same questions again and again, and playing a very difficult and an interesting sales game.
It is also largely unappreciated, and IR people our second class citizens in the firm. Despite the fact that the role is in many ways much harder than the deal role, many deal professionals consider r a support function, and it is generally neither financially rewarding nor well respected by colleagues.
Frankly speaking, if you have gone through the investment banking track, underwriting companies is not the hardest thing in the world. Writing a check is always going to be more within your sphere of control then getting somebody else to write a check to you, particularly in a saturated field like private equity. I’d rather be the one able to control the process and write a check then hunt for someone to write a check to me.
How is comp? I’m interviewing for a similar role right now