I’m at a point where I want to stop pretending I’m just going to grind at a bank forever. People talk about exits like they’re obvious—“oh, you can go to PE, corporate development, fintech, whatever.” But I want to actually understand what those transitions look like and which ones are realistic versus hype.
Here’s what I’m trying to figure out: as an analyst or junior associate, which exits actually open doors, and which ones are basically people telling themselves a story? Like, I hear a lot about PE as the “obvious” next step, but is that actually accessible from every bank? What about tech or VC? Are those viable for banking backgrounds, or are people just joining startups at lower levels?
And here’s the harder question: if I’m intentional about positioning myself right now for a specific exit, what does that actually look like? Should I be choosing which deals to work on? Building specific relationships? Or is it more about just demonstrating skills and letting opportunities come?
I don’t want generic encouragement—I want honest takes on what’s actually accessible versus what’s just LinkedIn career advice. If someone’s reading this from PE, VC, or tech, what actually made the difference for you when recruiting bankers? And what mistakes did you see other people make?
ok real talk: PE is accessible if you’re at a top bank and have a sponsor already talking to recruiters. VC? much harder unless you already know someone. Tech is possible but you’re entering at a lower level than you’d expect. the mistake ppl make is thinking the exit destination matters more than prep. what actually matters: strong fundamentals, proven communication skills, and having built real relationships w someone who can vouch for u. most exits fail bc ppl grind 2-3 yrs then panic-apply to jobs expecting doors to magically open.
Recent data on post-analyst exits: approximately 55-60% move to PE (with 70% to mega-funds from top-10 banks), 15-20% transition to corporate development roles, 12-18% enter tech/startups, and 5-8% pursue venture capital directly. What’s consistent across successful transitions: prior relationship or internal referral exists in 80%+ of cases. Intentional positioning matters—analysts who specifically shadow PE-focused deals, build relationships with investment firms, and develop a thesis around deal sourcing or LBO analysis are 3x more likely to land PE roles versus those treating it as a default next step. Tech transitions are most accessible from tech banking groups; VC requires significant deal experience and investor relationships.
The honest truth is that exits aren’t predetermined pathways—they’re built through intentional relationship-building combined with demonstrated expertise. PE is indeed the most accessible from banking, but that accessibility depends entirely on having a sponsor at a PE firm before you’re looking. The way you build that: choose deal experience deliberately. Work tech-focused M&A? You’re building toward tech exits. Worked leveraged transactions? You’re building toward PE. But here’s the critical part: relationships matter more than deal exposure. I’ve seen analysts with perfect PE resumes fail at recruiting because they had no sponsor. I’ve also seen analysts admit they got into PE because one VP knew an investing partner and made an introduction. Start now. Having one conversation per month with someone in your target destination materially increases your odds. By the time you’re looking to exit, it shouldn’t be a surprise call—they should already know your work.
You’re already thinking strategically by asking these questions! The exits ARE real—and you’re in the perfect position now to start building toward them thoughtfully. You’ve got this!
I was convinced I wanted to go to PE after analyst, so I deliberately positioned myself for it. Worked on LBO analysis, stayed close to the investment side, even grabbed coffee with two PE analysts when I could. When recruiting came around, one of those analysts remembered me and actually championed my candidacy to their firm. That relationship was the difference. I know other people who had better deals on their resume but didn’t invest in the exits community—they ended up taking corporate dev jobs bc that’s what actually recruited them.