Typically funds tend to be very reluctant to hire into their investment teams in any manner that disrupts the hierarchy of the existing team.

Therefore the preference is almost always to add at the associate level.

Typically, this is two to four years of experience from either IB or strap Consulting exactly when depends quite a lot on the level of experience. You gained beforehand IE. If you end up working on a couple of by side deals that close in your first 18 months and run a few cell sites, too. You're probably very well placed. Don't leave it too long though, as otherwise salaries become prohibitive and also fun start asking questions about why you haven't already moved.

Again, none of this is Gospel in theory. You can move much later than this. But in reality, it's very rare.