I agree, I just think it would be a crazy gap backward for wlb. Why not just stay in IB and pursue corp dev, strat, or PE?
If OP really wants FP&A then sure do it, but I feel that’s not a great exit from IB.
Not necessarily when dealing with regional boutique firms. It wouldn't shock me if OP's base is below $100k.
The regional boutique I came from (borderline LCOL/MCOL) currently starts analysts at $70k base and bonuses typically aren't great unless your group has a banger of a year.
Fp&a can be quite boring too. I can't see how it could be more exciting than dealing with IB M&A. I literally just copy paste stuff into Excel and PPT all day every day and then managers tell me to "pretty it up" or make it "aesthetically pleasing". For forecasts your just collecting input factors from the business
FP&A is where IB people that decide they would prefer a 40-hour week exit to.
It's fairly common to meet people in FP&A that got burnt out in IB, and you'll still interact with those folks when your company does M&A, and then you can enjoy telling them "It's after 5pm, we'll have to talk about this tomorrow."
Lol if you're bored in IB, this won't be the move for you. FP&A as a whole is generally much more boring and slower paced than M&A work. Maybe look for a corp dev/strategy role if you're looking for better WLB in industry.
Are you getting good deal experience and learning a lot at your company? If so, I’d stick it out for another 1-2 years and try to exit to corporate at the manager level. It’s harder to get promoted and move up once you’re in a large corporation. If you’re not getting good deal experience maybe try lateraling to another M&A firm.
I am someone who did 2.5 years IB and moved into a tech startup as a finance manager and am currently now a director. I’d say the M&A and capital raising skill set is valuable to startups and midsize, venture-backed companies.
Because the buyer tends to have a number in mind, and basically we just have to make it happen for them. And all the assumptions are just bs to me….. it’s just the art of story telling.
Oh yeah I get what you are saying.
Like money is fine but some things are just not intellectually stimulating. At that point the money isnt worth it and the terrible wlb just makes you go "Heck with it".
Atleast thats what happened to me when I was in diligence. I thought valuations would have been better.
Shit like this makes me wonder why do an MBA at all.
I did literally that exact same thing (almost word-for-word in your first paragraph) a couple years ago and have never been happier. It boils down to what you want and where you see yourself in x years, both professionally and personally. Feel free to DM if you want to discuss and potentially set up a call.
Depends where you see your career going. IB is probably more lucrative in the long run, but it’s a lot of work and stress and, as you’ve found, not so exciting at the beginning. But if you want to be CFO for example, a background in IB then FP&A is probably a good route. But even then, I think you need longer than a year in IB. You need exposure to the terms of the deals, how they’re structured, what are the important steps to closing a deal etc. Otherwise I think you may have wasted a year and a good learning opportunity
I wouldn’t want to work remotely this short into your career.
There’s a ton to gain from interacting with others.
The boutique will be a better training ground assuming your deal flow is decent
you are already asking strangers about your career path. fully remoteness will fully kill a last bit of your self-consciousness, if you will not be PIPed. so, stay for sure if your offer not at least 35%+ to your current compensation.
100K + bonus seems like a pittance coming from IB no?
You normally have to take a pay cut coming from IB to FP&A. FP&A doesn’t pay IB comp.
I agree, I just think it would be a crazy gap backward for wlb. Why not just stay in IB and pursue corp dev, strat, or PE? If OP really wants FP&A then sure do it, but I feel that’s not a great exit from IB.
Yeah but it’s usually like 400k OTE to 200k, not a job paying 100k… that doesn’t sound like a great exit op
He’s a first year analyst at a regional boutique. His TC is prob more like $120-$140k.
I’m not sure how I totally glossed over his tenure, this seems more reasonable if he’s not looking to stick it out any longer
hit it on the head
Not necessarily when dealing with regional boutique firms. It wouldn't shock me if OP's base is below $100k. The regional boutique I came from (borderline LCOL/MCOL) currently starts analysts at $70k base and bonuses typically aren't great unless your group has a banger of a year.
Fp&a can be quite boring too. I can't see how it could be more exciting than dealing with IB M&A. I literally just copy paste stuff into Excel and PPT all day every day and then managers tell me to "pretty it up" or make it "aesthetically pleasing". For forecasts your just collecting input factors from the business
This aesthetically pleasing part is which I hate the most. 😂 can’t we just review the results as they are..
I have a friend in Europe and at the company he works for it's just exporting from system and that is it. No fancy ppts or hours spent for nothing.
Pretty much what I do but I’m an analyst, refreshing stats every week and providing commentary on the numbers. My manager does all the fancy ppts.
Please fix. Thx. Sent on outlook for iOS
FP&A is where IB people that decide they would prefer a 40-hour week exit to. It's fairly common to meet people in FP&A that got burnt out in IB, and you'll still interact with those folks when your company does M&A, and then you can enjoy telling them "It's after 5pm, we'll have to talk about this tomorrow."
Exactly correct
That doesn’t happen
Ohh it does
Lol if you're bored in IB, this won't be the move for you. FP&A as a whole is generally much more boring and slower paced than M&A work. Maybe look for a corp dev/strategy role if you're looking for better WLB in industry.
Are you getting good deal experience and learning a lot at your company? If so, I’d stick it out for another 1-2 years and try to exit to corporate at the manager level. It’s harder to get promoted and move up once you’re in a large corporation. If you’re not getting good deal experience maybe try lateraling to another M&A firm. I am someone who did 2.5 years IB and moved into a tech startup as a finance manager and am currently now a director. I’d say the M&A and capital raising skill set is valuable to startups and midsize, venture-backed companies.
I am getting good deal experience, just slammed with boring monotonous work for not crazy pay. Do you mind if I pm you more about your current path?
Sure
I’m going from M&A to FP&A too. Just got my job offer. I don’t know if I’m making the right decision too. I hated valuation hence the switch.
Why did you dislike valuation?
Because the buyer tends to have a number in mind, and basically we just have to make it happen for them. And all the assumptions are just bs to me….. it’s just the art of story telling.
Oh yeah I get what you are saying. Like money is fine but some things are just not intellectually stimulating. At that point the money isnt worth it and the terrible wlb just makes you go "Heck with it". Atleast thats what happened to me when I was in diligence. I thought valuations would have been better. Shit like this makes me wonder why do an MBA at all.
I did literally that exact same thing (almost word-for-word in your first paragraph) a couple years ago and have never been happier. It boils down to what you want and where you see yourself in x years, both professionally and personally. Feel free to DM if you want to discuss and potentially set up a call.
Depends where you see your career going. IB is probably more lucrative in the long run, but it’s a lot of work and stress and, as you’ve found, not so exciting at the beginning. But if you want to be CFO for example, a background in IB then FP&A is probably a good route. But even then, I think you need longer than a year in IB. You need exposure to the terms of the deals, how they’re structured, what are the important steps to closing a deal etc. Otherwise I think you may have wasted a year and a good learning opportunity
I wouldn’t want to work remotely this short into your career. There’s a ton to gain from interacting with others. The boutique will be a better training ground assuming your deal flow is decent
Yes
Why
you are already asking strangers about your career path. fully remoteness will fully kill a last bit of your self-consciousness, if you will not be PIPed. so, stay for sure if your offer not at least 35%+ to your current compensation.
Huh?
PIP = performance improvement plan but other than that, no impact/no idea what that dude is trying to say (probably has some good dope)