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Really would recommend searching around wso. This is a really common thing.
best way to get in: get into private equity NOW. straight from investment banking. if you go get your MBA without any PE experience, it will be extremely tough to get a job.
What will make it tougher to get into PE without my MBA than with it?
if you dont have prior PE experience and go get your MBA, it will be nearly impossible to get a job at any reputable or legit PE firm. That's just how the industry is. Most firms will want to to hire MBA grads with prior PE experience and there will be plenty of those people. You won't be able to compete at all.
How to break into PE after 2yrs as IB analyst... (Originally Posted: 03/16/2013)
Hi, I am about start as a first year analyst with a MM group not in NYC. How do I begin to break into PE after my two years are over?
Thanks
Worry about starting the job you've got first...
IB>PE? (Originally Posted: 01/20/2011)
I am not trying to get ahead of myself, but hear me out for a second.
I am currently under contract to begin work this spring at a small regional boutique where pay is low but bonuses can be high (both relative to street). However, I have upcoming interviews with a local private equity firm as well as a large regional MM IB. My ultimate goal is to work at a MM PE shop in NYC.
Would I be crazy to take the MM position or even keep my current position if I happen to land the PE gig? Sure the hours and pay will be slightly better, but I am concerned that the exit opps from local PE just aren’t the same as IB. I see myself getting stuck at the PE firm for much longer than would like and never attaining what I have set out to accomplish for the last 3 years. Frankly, after summering in NY I have this incomprehensible desire to return, am excited to work in investment banking, and I feel the skill set I gain will be invaluable moving forward.
Thoughts? Thanks.
bump
not a fan of starting career at a PE firm. Build skill set in IBD then make the move. at an entry level you want to maximize learning through deal experience.
^^ disagree. Learning the technical modeling of IB takes a few months of practice which can be attained in PE but starting in PE i feel you get molded by your seniors (most of whom come from IB). I do agree in that deal flow is much slower in PE, once you are on a live deal the DD is much deaper and you are much more engaged in the deal. Also, watching your bosses interactions with portfolio company mngmt. can really teach you a lot. Different strokes for different folks.
Main points: 1.) Unless you are talking about Mega funds the pay in PE at an analyst level is less than IB 2.) Usually very small analyst classes so your pretty much on your own. 3.) Hours arent as crazy (not good hours but just not as bad as IB) 4.) Less deals but way more interaction with the higher ups
Just my personal experience.
I agree with everything here. Another thing to add is that most MM IBs crave sell-side mandates, which I don't feel prepare you very well for PE. IBD only teaches you how a transaction works, it won't really teach you why you should be making an investment. Essentially, in sell-side mandates you're really just a broker.
See I'd be interested in PE starting out SOLELY because of the interaction with higher ups. I mean, you have to always be on your game, but if you're good, it will undoubtedly help you in the long run.
Thanks for the input. I guess my question is more focused on the long run (2-5 years). Would working at a regional PE shop give me a better chance to work in PE/IB in New York? I figured it would probably be easier to lateral over to NY at the IB analyst level. My original plan was to try and lateral over to a boutique or MM shop in NY after a year of work.
In terms of pay, deal flow, analyst class, interaction with /quality of senior management... I know that the PE shop will be equal if not better in all three areas compared to my current gig, but probably not in terms of pay/deal flow when compared to the MM.
What is your salary at the small regional boutique?
Quite a bit below street, higher than Big 4. That's all I want to divulge at the moment.
Is this just for interest sake?
Since Im guessing you went to University of Toronto and specialized in Finance and Economics. Correct me if Im wrong.
Its just that im going to rotman and debating whether to specialize in Finance and Economics, accounting or management. And salary is a big factor...
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