Viewing a single comment thread. View all comments

TwilitSky t1_iykomhh wrote

Yeah, and private equity firms will be luring those bankers away.

Good luck with that.

328

thecarlosdanger1 t1_iylao2d wrote

I mean they already are.

I don’t know a single person who started in IB who didn’t want to get into PE after 2-3 years. It’s often argued as to why banking can be so toxic. There’s a hazing-esque element of “it sucked for me so it’s going to suck for you” + an opinion that a lot of those left were the ones passed over for buyside roles.

IMO private equity has become more comfortable with remote work than larger orgs, because COVID saw a lot of senior employees leave NYC (at least for a time).

Everything still worked and unlike banks, if they wanted to they could up and move the whole firm (or at least its HQ) somewhere else and wouldn’t require thousands of people moving.

108

ClaymoreMine t1_iyml22n wrote

That is assuming private equity can maintain the same compensation and momentum it’s had since 08. The recent Blackstone news about Redemptions and the shift of these firms to private credit is not a good sign

33

Jarreddit15 t1_iyn89r3 wrote

Eh, I stuck around in banking (for now). WLB in PE isn’t all it’s made out to be

Different animal, same beast

17

jessedegenerate t1_iyqrbma wrote

People who make money from money, don’t really contribute to society.

3

Jarreddit15 t1_iytogeq wrote

I didn’t ask and don’t care what you think

7

jessedegenerate t1_iyv8bux wrote

That’s cool, for a finance bro you sure don’t understand how public forums work, just know there are people who think what you do is disgusting selfish and entitled, cause it is

−1

pddkr1 t1_iyy0dyd wrote

Just ignore him. Part of the brigade that polices this sub.

−1

surferpro1234 t1_iz1vyb8 wrote

“Workers and laborers built this country…” okay but who financed it? Envy is gross

−1

muderphudder t1_iynckp2 wrote

I mean hasn't that always been the way of the finance world? IB -> MBA -> maybe back to IB for a few years or straight to PE/VC

8

bradk67 t1_iynundo wrote

Yea I think that's a pretty normal trajectory but I also see a lot of IB -> Pre-MBA PE Associate -> MBA -> PE Sn. Associate / VP. I feel like banks are moving away from MBAs as a prerequisite as recruiting is getting harder.

9