Unemployed ex PE Associates

Based on the most helpful WSO content, it's not very common for PE associates to leave their positions without another role or business school plans already in place. The career trajectory for PE associates typically involves moving laterally to other firms, being promoted within their current firm, transitioning to operating roles at companies, attending business school, or venturing into entrepreneurship.

For instance, among the associates I've observed, a significant portion either lateral to other firms or are directly promoted. A smaller percentage move to operating roles or pursue an MBA. It's quite rare to hear about associates leaving without a clear next step, as the competitive nature of the industry and the high stakes involved usually encourage careful career planning.

However, the landscape can vary based on economic conditions, fund performance, and personal circumstances. In challenging economic times or situations where a fund is underperforming, there might be instances where associates find themselves transitioning out without an immediate next step.

In such cases, the network built during their tenure in PE, along with their skills and experience, typically aids in finding new opportunities, whether in finance or related fields. Additionally, the strategic thinking, analytical skills, and deal experience gained in PE are highly valued across various industries, which can open doors to new career paths.

If you're in this situation or know someone who is, leveraging the network, reaching out to mentors, and considering a broad range of opportunities can be effective strategies. Also, engaging with career services offered by alumni associations or professional organizations can provide support and guidance during the transition.

Sources: Where are your associates going these days?, Downsides of PE VP Roles, From PE >> Startup >> Back to PE, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, How screwed are IB associates if they're laid off?