MBA Student looking to break in to Private Equity - Seeking Advice
Hi all,
This is another one of those - "How can I get XYZ, highly sought after job?" posts, so please bear with me and help if you can :)
I will start with describing my background:
Masters in EE from a top-5 engineering school (think Georgia Tech, Michigan, Berkeley)
Six years of experience in high-tech
Second year MBA student at a top-20 school
GMAT:770 and GPA:3.8
CFA L2 candidate for June 2008
I am looking to move over to finance from tech (Yes, I know this is a major career shift) preferrably in to PE (1st choice) or IB/IM (second choice).
I am currently interning at a small PE shop, but it cannot be translated in to a job (because they don't usually hire MBAs). The work is not great, but I am doing it to get PE on my resume.
My questions are:
1. Given that I am pushing 30, does it make sense to go the IB to PE route?
2. Does joining an IB as an associate, at my age, the right thing to do?
3. Can I get in to a PE firm focused on tech, given my extensive background in tech?
4. How much does "progress towards CFA charter" help?
5. Do IM firms (MFs or HFs) hire people of my profile?
6. I am an international and would like to return back to my country's booming PE sector, in about 4 to 5 years. Is this something I should highlight and would it help me sell myself?
7. Do I have a realistic chance of getting a PE job post-MBA, at all?
Please provide any critique/suggestions you might have. Thanks in advance.
PELBO
my cousin's story...
he's also a top engineer who did tech consulting for 7 years and graduated a top 10 mba school when he was around 30ish...
when recruiting in his second year of MBA, big PE firms (KKR, Blackstone, Cerebus) told him to get Ibanking on his resume and then reapply because he only had experience in tech consulting. Also, when applying for a PE job, you are competing against kids who have done I banking out of undergrad and even worked as a a PE analyst for 1 or 2 years pre mba.
your internship should help, but getting a PE job out of MBA might be a little tough. If not PE, definately go for I banking jobs. your gmat and gpa show that you are very smart and good with numbers. moving with a investment banking experience into private equity shouldn't necessairly take a long time(after a couple of years, you might be able to lateral). I would suggest going into a i banking firm that also does PE, might get to make easier connections, or to a really good i banking firm where everyone knows the firm's name.
about CFA, it certainly helps, but i've heard PE firms prefer candidates having I banking(mergers and acquisitions) experience over CFA candidates.
Well earned congrats on all of your accomplishments but honestly, shouldn't these questions be directed toward the career center of your MBA program as well as your colleagues at your PE shop?
Certainly by now you know people in the industry.
Boilerbanker, Thanks for the post. You confirmed what I have been finding through my research. Ibanking is still the way to go, to eventually do PE.
Schumacher, Thanks. I have spoken to a few people at the shop, I am interning at and they all suggested IBanking as the best way to enter PE, eventually. As for the career center, it's pretty useless.
what kind of question is that, douchebag? even if he HAS asked his 'colleagues at a PE shop' (??) or his career center, why can't he come here for a 2nd opinion?
I say we shut down this website and all go talk to our uni's career center...
Toiyasam,
Yep, that's what people like 'Schumacher' would want us to do.
Do you have any advice for me? Thanks.
PELBO
Pelbo, my family friend who's an MD at Carlyle was in your shoes about 10-12 years ago. He went into i-banking post-MBA, and from there moved to PE. It's certainly possible, and your engineering background will be a great asset in the long run.
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