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Why do you go into Investment Banking before going into PE?

Hey guys,

Mainly just a lurker around here but I have a question. As I've somewhat familiarized myself with IB, it seems a lot get in as an analyst and then hope for a PE opportunity (not all, I get that). My questions is: why not just try to start with a PE firm, or try to become an associate at the IB you're at?
I'm in the Dallas area and have seem some PE firms hiring for people with "0-2 years" experience, so it seem they would be open to hiring a recent grad.

WSO Campus Representative Program

WSO is now accepting applications to be a Campus Rep at your university for the second semester of the 2015-16 school year. We currently have 52 reps signed up but would love to add 15-20 more.

We are looking for motivated students with a solid work ethic and strong presentation/communication skills who are willing to commit for at least one semester, or ideally until May 2016. The time commitment we ask is 12-15 hours/month. Phone interviews are continuing into September so get your applications in soon!

Our Campus Reps help us by spreading the word on campus, meeting with and giving presentations to student clubs and organizations, organizing meet ups, social media activity, university partnerships, and other on campus and online activities. Perks that reps can receive include free WSO guides, free access to our Video Library & Job Board, letters of recommendation from Andy, prize money for the top reps, and more.

Click inside the post for more information and to formally apply >>>

The WSO Advantage

Every step of your career we have you covered. Our products & services are listed below:

Financial Modeling Training

Templates, M&A, LBO, Valuation, + more. Learn More.

Interview Prep Guides

50,000+ copies sold...for good reason. Learn More.

Resume Help from Actual Pros

Polish Your CV to Land More Interviews. Learn More.

Find Your Perfect Mentor

Realistic Mock Interviews. Learn More.

Video Library: 100+ Hours

Industry Insight & Specific Guidance. Learn More.

Research 1,000s of Firms Free

Interviews, Compensation + more. Learn More.

WSO Job Board

Exclusive $100k+ Positions. Learn More.

Happy Hours & Free Webinars

Don't Miss Out! WSO in Your City. Learn More.

Webinar: Stock pitch idea (long/short) for a hedge fund interview -- 9pm ET, 2/16/16


On Tuesday February 16th, 9pm ET Wall Street Mentor Ann will be hosting a webinar entitled "Stock pitch idea (long/short) for a hedge fund interview", with a q&a session to follow. Ann is an industry veteran with experience in hedge fund.


If you missed the webinar, it will be available on the homepage in exactly 1 month, for 24 hours March 16, 2016 before going into the WSO Video Library.

February 16, 2016 - 9:00pm to 10:00pm
Event type: 
WSO Webinar

2015-2016 salary & bonus discussion

Let's talk about the 2015 - 2016 year bonus. Please list the firm, level, salary, bonus using the following format:

JPM, S&T, A0, 150k base, 175k bonus (75% cash, 25% stock)

Feb 1st update: Here is a compilation of the salary & bonus #'s thus far (pulled from comments).

Harvard vs Oxford (Undergrad) Would love to hear your advice!

I was accepted by both the University of Oxford and Harvard University (Restrictive Early-Action) recently. And I would love to hear your advice on which institution to choose from.

* Harvard costs $65,000 a year + four years = $260,000 (No Financial Aid)
* Oxford costs $50,000 a year + three years = $150,000

Winner = Oxford (Parents' income above financial aid status but below $300k)

* Harvard requires you to take core course classes that I have no interest in + constant assessments. The benefit is I get a well-rounded education and can switch majors if I somehow switch career interests out of banking/politics. Far less intense and massive grade inflation.

Interviewing behind your current firms back

All right, heres the deal primates: I am a recent intern to hire (temporarily) working as a junior analyst with a middle market M&A shop. I was contacted by a larger and more reputable firm in the area about an analyst I position and I took the interview I was offered. The place I interviewed at knows I am currently employed but my firm does not know I am looking at outside positions (clarification: the agreement was that they would bring me on as a junior analyst for a 3-month period and then maybe decide to keep me as a full time analyst with a big-boy salary and all the full-time benefits).

Question: A) Is it likely that the firm I interviewed with will contact my current employer?

Bridger Capital - Secret Society: What do you know?

So Martin Shkreli showed up on the radio show "The Breakfast Club" with Charlemagne Tha God.

Interviewed pharma-bro and they brought up the secret society "Bridger Capital", the Illuminati of Hedge Funds. Shkreli was shocked that Charlemagne Tha God knew of this group and that he had been invited to meet them (he posted pictures of the conference room on instagram--now deleted)

Interview can be found here>>>

What do you guys know about it?
- bazaar rituals
- secret society of upper echelons of finance
- who is in it

Explain CMG's Valuation to Me

Mod Note (Andy): Best of Eddie, this was originally posted in September 2013.

Who doesn't love Chipotle? Even the one here in Paris, which sucks compared to its American counterparts, is halfway decent. The company is obviously doing everything right and has appealed to the burgeoning trend of fresh (relatively) healthy fast food in America. They're even actively attacking factory farming, which makes them aces in my book.

But seriously, what the f**k is up with their stock price?

Are you really going to tell me that a 45 P:E is reasonable for a restaurant? I want to own Chipotle, I really do. But there ain't no way I'm paying a multiple like that for a fast food joint. What am I missing? Somebody help me out here. Because CMG looks like a screaming short to me.

But then I look at this chart:

Webinar: Hedge Fund Investment Pitch -- 12pm ET, 2/14/16


On Sunday February 14th, 12pm ET Wall Street Mentor John (@wilowallstreet) will be hosting a webinar entitled "Hedge Fund Investment Pitch - Business Models", with a q&a session to follow. John is a former MD at a Bulge Bracket bank and currently works for a hedge fund.

More info from the presenter:
"This session is going to follow on some of the ideas we discussed during the last session, more specifically we are going to continue to review the filters we discussed last time. As a reminder during the last session we reviewed what makes a good business and discussed how to understand an industry."


If you missed the webinar, it will be available on the homepage in exactly 1 month, for 24 hours March 14, 2016 before going into the WSO Video Library.

February 14, 2016 - 12:00pm to 1:00pm
Event type: 
WSO Webinar

New Private Equity Interview Prep Pack is Here!

The Private Equity Interview Prep Pack has arrived after years in the making!

Our goal at the outset was to make an extremely comprehensive industry and interview guide that would make you very competitive in cut-throat PE interviews. We had countless beta users (from current PE professionals, management consultants and investment bankers, all at top firms) that were amazing in helping us shape the package into the ultimate resource for you.

Top Secret Clearance in Finance

How much of an asset is a top secret clearance for veterans in the current job market? I've heard that it can be extremely beneficial in the corporate finance space with defense contractors and defense consulting. I feel like the benefits of the top secret clearance in the civilian labor market have to be greatly exaggerated.

Wall Street Oasis SEO Interns Needed NOW

Wall Street Oasis is looking for several hard working individuals to join our intern team to help with online-marketing tasks, specifically Search Engine Optimization (SEO) and link-building.

See inside the post for more info >>>

WallStreet Prep Master Financial Modeling