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I heard food is free in exl is that true
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Thoughts on analyst to associate promote in IB?
DB ECM - does anyone have a view?
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Why not exit to MM-LMM PE firm as part of ops team?
Nope. Lots of work with IBs when they carve out the technical or commercial strategy underwriting and revenue forecasting on diligences to my firm, but that's it. Also have done plenty of standalone buy side and sell side diligences directly for companies.
I wouldn’t but to each their own. All the pros and cons have been listed above. Having been in your shoes a few years ago, I can say the money has not been worth it (I too thought I could put in the extra hours incremental to consulting).
Best of luck.
PE is likely only downstream (LMM, maybe some MM). Its not impossible just VERY uphill battle. In this market even more so.
It’s never too late to join my friend! Water is warm, jump in.
My fear is that it's just because everyone else peed in the pool and then jumped out and got into the private equity hot tub lol
Just go in knowing that you won’t stay more than 2-3 years and start recruiting for buy side opportunities from day 1
If you have deep sector expertise also consider hedge funds as an exit option after ibanking - your expertise there would be valuable indeed
I say do it only if you get an offer from a top bank
I think you’re overestimating what it takes to get into a top bank
Aim for GS, MS or JPM, probability of moving to the buyside significantly reduces when you move away from those banks (in terms of headhunters reaching out to you on LinkedIn etc)
I’m based in London so I’m unsure how this would translate into the NY landscape etc
It really depends on what you’re willing to tolerate at 36. You will working all the time (as you acknowledge) and following orders from people younger than you (think late 20s VPs, early / mid 30s Directors / MDs). Your associate peers will mostly be 8 -10 years younger than you. The work will probably be mostly menial / execution focused, especially early on.
It could be worth looking into smaller regional boutiques, though, which tend to have better WLB and afford a bit more responsibility to junior folks at the expense of comp and prestige
Thanks for the reply! How much of the weirdness around getting orders from someone younger comes from the younger person versus the older person? I personally don't mind it, I came into consulting at an older age as well and had plenty of project leads older than me before I became one myself, so that doesn't bother me but I wonder if other people are going to dislike working with me because they're uncomfortable about giving me orders.
I'll look into the regional banks, although frankly I'm mostly optimizing for salary so I've been mainly targeting the big boys
PE not really better FYI