Leave IB for a Fixed Income analyst role ?
Happy New Year Everyone!
I work at a boutique tech M&A shop, get completely cranked and paid way below street. I have only been here for ~6 months, but because deal teams run so lean I have seen a ton and done a ton already (much more than my peers at BB & MM banks). IB to me was always going to be a get in and get out ASAP situation, but would leaving even before my 1-year mark a mistake?
I have an opportunity to work at as a Fixed Income analyst at a $7.5 billion AUM NYC-based investment manager with a start date in the next 2 months. Would this be a mistake? One of the great things about investment banking is the career options it gives your after... would I be handcuffing myself to leave so early? What would my career trajectory look like if I took this other job?
I have become interested in fixed income in the past few months... Particularly attracted to a better WLB.
Happy New Year!
Based on the most helpful WSO content, leaving Investment Banking (IB) for a Fixed Income analyst role before the one-year mark is not necessarily a mistake, but it's important to weigh the pros and cons carefully. Here are some points to consider:
Experience Gained: You've mentioned that you've already gained significant experience due to the lean deal teams at your boutique tech M&A shop. This can be a strong selling point when transitioning to a new role.
Career Trajectory: Fixed Income roles can offer a different career path compared to IB. It's less about deal-making and more about market analysis, credit risk, and investment strategy. Your trajectory could lead to senior analyst roles, portfolio management, or even a shift towards hedge funds or asset management down the line.
WLB (Work-Life Balance): Fixed Income roles are generally known to offer a better work-life balance compared to the demanding hours in IB. If this is a priority for you, it could be a significant factor in your decision.
Compensation: While you might be paid below the street in your current role, consider the compensation trajectory in Fixed Income. It might start lower than IB but can be quite lucrative as you gain expertise.
Long-Term Goals: Reflect on your long-term career goals. If Fixed Income aligns more closely with where you see yourself in the future, it might be worth the switch.
Market Conditions: Fixed Income markets are influenced by different factors than equity markets. Ensure you're interested in and comfortable with the macroeconomic and interest rate environments that impact Fixed Income.
Exit Opportunities: While IB is known for its exit opportunities, Fixed Income can also open doors, especially within the investment management industry. However, the nature of these opportunities will differ.
Leaving IB early does not necessarily mean you're handcuffing your career, but it's crucial to make an informed decision based on your interests, career aspirations, and the specifics of the Fixed Income role you're considering. If you're genuinely interested in Fixed Income and the role offers what you're looking for in terms of growth, compensation, and work-life balance, it could be a smart move.
Sources: Quit Today, https://www.wallstreetoasis.com/forum/investment-banking/how-soon-can-i-leave-1st-year-ib-analyst?customgpt=1, Would you leave your job right now?, Leaving a job within a few months of starting, Should I leave IB for my girlfriend, who I want to marry and have a family with?
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