PE Lateral
If I do one year in private equity and then lateral, will I get credit for my one year and come in as an associate 2? Or will I have to restart as an associate 1?
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Based on the insights from Wall Street Oasis, if you're considering a lateral move after one year in private equity, the typical scenario is that you might not automatically get credit for your year as an Associate 1 when moving to another firm. Each private equity firm has its own policies regarding the recognition of experience from other firms.
Here are a few points to consider: 1. Firm Policies: Some firms might recognize your experience and bring you in as an Associate 2, especially if your skills and the projects you've worked on align closely with their needs. 2. Negotiation: Your ability to negotiate based on your achievements and the specific experiences you've gained during your year at the previous firm can play a crucial role. 3. Market Standards: Generally, the market standard can vary; some firms might require you to start again as an Associate 1 to fully integrate into their specific processes and systems.
It's advisable to clearly communicate your previous experiences and achievements during the interview process and see if there's a possibility to join as an Associate 2. However, be prepared for the possibility of starting over as an Associate 1, depending on the firm's policy and your negotiation outcomes.
Sources: https://www.wallstreetoasis.com/forum/private-equity/just-broke-into-ib-as-a-lateral-how-do-plan-my-move-to-pe?customgpt=1, Private Equity Associate Regretting Decision, Life after 2 years in Private Equity, Private Equity vs. Private Credit, Q&A: Returning to PE After a Year and a Half at a Series C Startup
Likely restart since you didn’t learn anything
What do you mean by not learning anything if I have a year of PE under my belt?
Very difficult PE lateral market right now and would likely restart as an associate one, in my opinion. Going to vary on a firm by firm basis, but after one year I would expect to do two more associate years at a new firm in this market. I would optimize for a spot where you see long-term growth potential and a good fit, and be less worried about doing another associate year. Hope that helps
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