First time poster here. I wanted to work on Wall Street when I was in college but it did not work out for various reasons (including graduating in 2009 amidst the financial crisis). I ended up at top insurance company in Boston where I have been working on annuity valuation and hedging. I flew through all 10 of my actuarial exams (raises and bonuses are great motivation) but after four years in the field I am realizing it is simply not interesting / challenging / competitive enough for me. I enjoy the complex financial modeling, but the aspects of deal making, strategic thinking and human judgment don't seem to come into play all that much for actuaries.
I am interested in private equity. I know PE would be a huge change and is very difficult to break into. My proposed plan of attack is as follows:
- Get into a top 5 MBA program. I took one practice GMAT so far and got a 710 with minimal studying so I'm hoping I can push that up to around 750. I also think the actuarial designation (FSA) will help strengthen my application.
- Network like crazy and try to get an internship at an investment bank or private equity firm the summer before I start grad school. The goal here would be to have some type of relevant experience on my resume, even if it means working unpaid for a few months.
- Leverage this experience and b-school contacts into a more desirable internship between years one and two of grad school.
- Hopefully by this point I will be considered among the same playing field as other b-school students who may have had full time pre-MBA experience in IB or PE and that will translate into a full time offer at a PE firm.
I know PE is an extremely competitive field but I am willing to put in the work necessary to make it happen. I think the skills I have learned as an actuary will be a great help. Constructing lbo models should be a breeze and my insurance product knowledge would make me a good fit at a firm that specializes in insurance industry deals.
I would greatly appreciate any comments or advice anyone may have. Thanks in advance!
Trending Content
Career Resources
Just a guess, Liberty Mutual?
You're a prime candidate for an MBA reboot. However, post-MBA PE gigs are way harder to secure than pre-mba ones.
redacted
I don't think I would enjoy being a fixed income trader, as traders tend to focus on short term trends rather than long term fundamentals. I could see myself being a FI PM, but don't think I would need the whole MBA reboot to do so. In my current annuity hedging role, I work closely with PMs (FI and equity) to determine how much we need to hedge (short futures / buy options / enter interst rate swaps) to hedge the company exposure to their investments.
Sed voluptas sint non rerum qui. Est et dicta voluptates odio unde. Eos porro est voluptatum quis reprehenderit quisquam. Suscipit nobis quo sit occaecati eos in nihil.
Incidunt molestiae fugiat ipsa adipisci maiores aliquid. Quia facere et inventore eius aut voluptas doloremque.
Sunt et iusto at. Vel dolores quo ut at exercitationem quos voluptatibus consectetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...