Does your first job matter AFTER you made it to the buyside?
Worked in LMM IB and made a strong buyside exit (peers are from BB / other strong buyside firms) (Continental Europe and Tier 2 Location + got along really well with partners + started off as an analyst again however, comp is higher than what I made before)
While there is the possibility of maybe making it to investment manager, it could also only be a 3 year opportunity. If thats the case, will I be at disadvantage compared to peers who come from a similar buyside background + have BB experience? Or will recruiters only care about my prioir buyside exp?
What's your guess?
Based on the insights from Wall Street Oasis, once you've made a successful transition to the buyside, your initial job's prestige becomes significantly less important. Here's a breakdown of how your situation might be perceived:
Buyside Experience is Key: After securing a position on the buyside, especially with a strong exit as you've described, your experience there becomes the focal point. Recruiters and firms tend to value the skills, knowledge, and network you've developed during your time in the buyside role more than your initial job.
Performance Over Pedigree: In the buyside world, your performance, deal experience, and how well you fit with the team often outweigh the prestige of your previous employer. If you've demonstrated strong capabilities and have gotten along well with partners, as you mentioned, these factors will significantly bolster your standing.
Future Opportunities: While having a background in a bulge bracket (BB) or another strong buyside firm can be advantageous, it's not the sole determinant of your career trajectory. Your ability to make it to an investment manager or secure other high-level roles will largely depend on your achievements and contributions in your current buyside position.
Networking and Continuous Learning: Continuously expanding your network and skillset can also mitigate any perceived disadvantage from not having BB experience. Being proactive in these areas can open up new opportunities and make you a more attractive candidate for future roles.
In summary, while peers with BB and similar buyside backgrounds might have a slight edge in terms of initial perceptions, your prior buyside experience, performance, and the professional relationships you've built are likely to be more influential in your career progression. Recruiters will indeed care about your prior buyside experience, viewing it as a critical indicator of your capability and fit for future roles in the industry.
Sources: My Experience Recruiting as an Undergrad for Everything vs WSO Wisdom, Buyside recruiting is really demoralizing as a non-target, Q&A: About to graduate from HBS - Ask Me Anything, 2019 On-Cycle PE Recruiting: Headhunter Ranking, mid tier bb's and eb comparison
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