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Currently a MM TMT analyst looking at next steps; have 2 offers at non-tmt focused PE shops (tmt accounts for ~15% of investments) with less than 750mm AUM. Also have an offer at a f100 software corp dev group which comples 3-4 acquisitions a year. Long-term goal is to get to growth/private equity focusing on software.

Any suggestions here? Would like to hear thought processes - all are in desirable locations.

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Comments (6)

  • OMS's picture

    tough decision. if your long term goal is PE than I would go for the PE gig. Even if they do very little tmt investments, you are likely to be on all tmt deals given your experience in the space. With that said PE + corp dev. at a f100 software group will set you up well for software PE.

    I know a guy who was in a similar situation (expect it was for healthcare) and he went for the corp dev job. after 3 years he decided he wanted to do PE, but had to start as an associate vs. had he taken the PE offer he would be on his way up to VP.

    i'd also take pay into account.

  • cphbravo96's picture

    Any significant differences between the two PE offers?

    I would be inclined to go in that direction since getting a much broader deal exposure will make you competitive for a much wider range of jobs in the future. Going the software route seems as though you might gain experience solely in the software space, which is great if you intend to target tech or software focused PE firms in the future...but you never know what those opportunities might look like when you decide you want to leave. I suspect you looked for TMT focused PE firms this time around but may have had little luck? That might be the proof I need to push me in the direction of the broader skill set.

    In many ways I think having a specialty is great, because you can offer the PE firm a distinct advantage in that particular space but I think that is of greater value at the more senior level.

    Ultimately I think you have better luck going from one PE firm to another, rather than industry to PE firm, which would also make me lean toward the PE offers.

    I would also think about whether b-school is in your future and whether you will have better luck getting into b-school out of the F100 or the PE shop. Also remember that PE recruiting is very difficult out of b-school, especially if you don't have direct PE experience. So that might mean you do corp dev for a couple years and then have to try and exit into PE before going to b-school or risk being less competitive on the back end.


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  • migs's picture

    Thanks guys; reason I'm actually leaning towards the f100 is they have a VERY high placement at HBS and Stanford. Regards to comp, the f100 pays very well, not what I'd make in the two PE offers but not a significant discount, either.

    Reason I couldn't get into software PE is there are very few east coast firms focused in this area, thus making it very difficult t break in. Also, the F100 does have an investing arm so maybe it makes sense to learn more about that group as well?

  • SanityCheck's picture

    There are a lot of them in Boston. Summit and TA have a huge number of software related deals, though I'm not sure if I'd count that as a traditional PE experience since you'll be sourcing a lot.

    You can always look into lateraling into a growth PE shop focused on software through headhunters, all the popular ones do lateral apps as well pre-MBA.

  • In reply to migs
    cphbravo96's picture

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    "The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so."
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