So lets say you have a stable 40 hour a week job, not challenging, pay is bad for your age, not really a career you see yourself at for more than a year. Just something to hold over until you find something in the FSI. Then, you interview with a small P/E firm and get an offer, however, the offer is for Ad Hoc analysis. You are still taxed and still on the payroll, yet since the fund is very small they do not have a need for a full-time analyst. Pay is per analysis yet still very good and leaves enough time to continue regular job. You have direct access to MD’s from other IBanks through P/E position and you report directly to the MD/CEO of the fund. Also work with high level execs at F500 corps looking to buyout/invest in smaller startups. Still young (read: 22) and looking to go to Bschool around 25/26. Taking L1 in Decemeber and have a few projects in the pipeline with the P/E firm. What to do in this situation? Would you leave the regular job and try to just bust ass at the P/E firm. This path is a big risk b/c dealflow could absolutely fall off and you would be left essentially jobless until credit markets thaw. The problem I am facing is weather I leave a pretty Sh!tty steady income or do I take the risk and work this P/E angle as hard as possible and try to weasle my way into something that is more full time, even though I have no way ensuring that I will have enough work to sustain myself. For all those in P/E what is the micro environment looking like right now? I know credit conditions are tight right now and there is a lot of money on the sidelines. Dealflow varies by fund and bank (i have heard mixed reports on volumes). This is a tough dilemma.
Yes, that is a tough dilemma. Things to consider: 1) Do you need the income from the regular job? 2) Can you keep the regular job and do the P/E work? You’ve answered yes to this, so tell me again why you would sacrifice your salary if you have enough time to do both?
I (think) I can handle the P/E work and still handle the menial tasks at my regular job. @ Q1. I live with my parents (eat your heat out ladies) b/c my office is 1 mile from my house so it makes sense. I live in the basement so it’s all good. Back to the point though, so rent is free, food is almost free (I buy my own groceries) and I have essentially zero living costs besides the opportunity cost of babysitting for my parents doing any/everything they want me to do etc. While the income is nice, I think I could support myself on the sporadic P/E pay. I have low fixed monthly costs (motorcycle payment 49 minimum, I pay about 200/mo, Groceries about 200/mo {i eat a lot}, going out–just get girls to pay for drinks, )
Anyone? Steph96? Daviskr? KarenC?
Go for it. Keep your current job if you think you can do both and get the PE experience. If PE deal flow picks up, then you can always quit your current job (assuming that you like PE). Jobs like that aren’t always easy to come by, so you might as well get your foot in the door.
I’m not sure how this is even a question if you don’t have to quit your first job to do the second, unless the second infringes on your b@nging chicks time. Next.
nuppal Wrote: ------------------------------------------------------- > Anyone? Steph96? Daviskr? KarenC? Generally I would always tell everyone to take the job that excites their interest - however how easy would it be to find another 40 hr a week job if you can’t make ends meet with the PE job?
Won’t be easy to find another 40/hr week job. I think i am going to plan on keeping this one while testing the waters of the P/E job/getting up to speed. Then reevaluate.
nuppal Wrote: ------------------------------------------------------- > Anyone? Steph96? Daviskr? KarenC? lol … I didn’t know it was the female AF opinion that mattered! I would do both if you can handle the workload. Hopefully, you can parlay your PE experience into something more meaningful. But I wouldn’t quit your fulltime job; Even though it’s not exactly what you want at this point in your life, it’s a job.
Yeah, I think Unemployment +10% is coming.
nuppal Wrote: ------------------------------------------------------- > @ Q1. I live with my parents (eat your heat out > ladies) b/c my office is 1 mile from my house so > it makes sense. I live in the basement so it’s all > good. Back to the point though, so rent is free, > food is almost free (I buy my own groceries) and I > have essentially zero living costs besides the > opportunity cost of babysitting for my parents > doing any/everything they want me to do etc. “Mom, not now! I have the AF girls over!”
work both until your in a spot to choose one over another. may or may not happen so you dont lose out on either yet max out both
TheAliMan Wrote: ------------------------------------------------------- > “Mom, not now! I have the AF girls over!” +1 goldenboy09 Wrote: ------------------------------------------------------- > work both until your in a spot to choose one over > another. may or may not happen so you dont lose > out on either yet max out both Thats what I think i am gonna do. I am doing research right now for the other job at the current job.
TheAliMan Wrote: > > > “Mom, not now! I have the AF girls over!” LOL!
Might as well take the position and work on the ad hoc projects as your schedule permits. Probably isn’t a bad way to gain some visibility into the way PE investors think. My guess, however, is that most of your work will probably revolve around high-level industry analysis and digging up research. It’s doubtful you will get too involved in the modeling given that you aren’t there full-time. Also, don’t have any false pretenses that you’ll be interacting with the bankers all the time – if you’re only working on ad hoc requests, your interactions will most likely be relegated to occasional diligence and data room requests. You’ll have a chance to e-mail them and occasionally speak on the phone as needs arise, but because you aren’t an intimate part of the deal teams, you won’t probably won’t be building substantial relationships. Nonetheless, this could be a good way to get your foot in the PE door and get some extra income, so if the only thing that’s holding you back is just not wanting to do extra work, I say go for it.
numi… I meant to say that but it just came out all wrong…lol how you been man? hope you have not been speeding
Yeah, I am for sure not put off by doing extra work. The only thing it conflicts with is CFA L1.