#CareerQuestions #JobRegret #AdviceNeeded
Hey everyone, I need your input on something that’s been bothering me. 🤔 Am I an idiot for turning down a JPM Analyst role out of college? Here’s the backstory:
– Graduated in 2021, got job offers from JPM, State Street (PE Fund Accountant), and State Street (Client Invoicing).
– Chose the PE Fund Accountant role at State Street based on advice from my dad to get directly into the industry I wanted.
– Ended up doing fund accounting/reconciliation, not what I expected.
– Now working at a hedge fund, still trying to break into M&A/Investment Banking/PE.
Any thoughts on what I could have done differently? Any suggestions on how to pivot my career now? I’d love to hear your insights and experiences! Let’s chat 🌟 #CareerAdvice #JobRegrets #CareerPivots
Fund accounting isn’t front office PE
Analyst is too vague so I don’t really know what that means. But if it only paid 70k it probably wasn’t what you wish you were doing. You can’t go back in time so no point in dwelling on it.
As you’ve realized, fund accounting is pure back office operations. It may be FOR private equity, but it’s not like it’ll get you anywhere near a good PE role.
Honestly it will be hard to do, I’d get your mba at a good school and do ib that way. But your best bet is to try to move internally, look at other middle office roles too like IR valuation
I’d have chosen JPM among the options especially due to its large size and internal mobility. However, 70k analyst wouldn’t be your usual IB, PE or AWM role.
Someone’s got to say it. None of those jobs are going to lead you to PE…… you need an MBA from a top school and a job/network that is along the same path. These are not it.
That fund accounting role would never touch the actual PE firm. You are simply servicing their business.
As most people said, you’re a bit far from your goal because you have no clue the road to take to get to your goal.
If you want to be FO PE, you have two options:
1) Spend a few years and maybe a few more in BO and MO roles at PE firms and hedge funds killing it. Network your ass off and parlay it into a sales or FO role. Don’t underestimate the power of collaboration and its ability to help you shine.
2) Go back to school for your MBA (or at the very least pursue additional certs like CFA, CAIA, etc), get internships, move to FO.
You’re straight up not going to get into PE FO or anything remotely close with where you’re at right now. The JPM analyst role wouldn’t have changed that and there is no point in wishing you took that instead. You need to bolster your experience; PE FO doesn’t generally hire inexperienced people because they can’t do shit and it’s too hard to teach them the complicated process of PE deal making.
Let me tell you a tail: my friend got a JPM analyst role. Talked crap to us for taking accounting/less desirable roles. Two years later they laid him off now he is looking for a new job.
Point is: you could very much be in the same
spot even if you took that job. Plus an internship is to learn if you can stand the job. You learned you couldn’t. Keep grinding and you will be there (this is from a guy who’s first job was rental cars)
Standard path to PE out of undergrad is 2 years IB preferably at BB and then to PE, or IB —> M7 MBA —> to PE.
Honestly doesn’t sound like any of your roles are that competitive due to their low salaries, so your best shot like there have said is to work for a few years, go to a good MBA, recruit for IB there then go to PE. It’s quite hard to go from MBA to PE without any prior IB or PE experience
only way i see people get to PE is starting there as intern or moving over from IB. if i were you i’d look for a MBA or MSF program and while doing that get some relevant internships (IB, ER, PE, hell even S&T if you can swing it)
Bro really took a state street offer over JPM
Fatty – Fund accounting is back office; miles away from the deal side. You need a top MBA and a few years of investment banking to be considered.
I’m still shocked you left $10-15k on the table not to mention the bonus of JPM prestige.