6 Free Financial Modeling Lessons...and More.

Enter your e-mail below to get our Free Tutorials.

< previous | next >

MBA student seeking your advice - How to break in to PE?
 

pelbo's picture
O
(Monkey, 64
 
Points)
 on 7/25/07 at 11:21am

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 posted this a couple of days ago in the "Private Iniquity" forum and did get a few responses (thanks to all that responded, your help is appreciated). However, I am reposting this here, as it seems most of the career related "action" is here.

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

Tags:
vadremc's picture

1.) You are currently in

HF
(Gorilla, 596
 
Points)
 on 7/25/07 at 12:01pm

1.) You are currently in graduate school, so you should be pretty clear about what career path you want to follow. Either you want to go into PE or IB. Choose a path and follow it. Later down the road you can decide to change directions from either one of those areas.

2.) How else would you get into the IB out of B-school? student to MD? Let's be realistic. You are joining as an Associate and you will probably have a few years on your peers, but given you have no finance background and it was your decision to start late, you're still doing relatively well for yourself given your current choices.

3.)All depends on where you went to school. You said top twenty. You'd be surprised how the Top Ten and Bottom Ten contrast in opportunities. You do have a shot.

4.)This may sound harsh, but given your age and top 20 school affiliation, you need the charter designation now to enhance your candidacy at a top PE or IB. "Progress" is a mute point. Be sure to knock it out come June 2008.

5.)Yes, but not often in what I've seen. Your competition comes from Top 10 schools and have big names on their resumes. Know your comp and just run with what you have. Networking is your best friend.

6.)I wouldn't mention that. Not a strong selling point if the firm does not do business within that region.

7.) I would say 30 - 40% for a top PE shop. Pass level 2 of the CFA, and I'd say 50/50. Anything's possible...

"Cut the burger into thirds, place it on the fries, roll one up homey..." - Epic Meal Time

vandeja1's picture

hey dumbass: A - maybe if

 
Points)
 on 7/25/07 at 12:44pm

hey dumbass:

A - maybe if you post this again you'll get the response you're looking for. Go talk to your career center, people you trust, etc...

B- Way to try to be vague about your school. You go to UT - McCombs. I couldn't care less either way, but either tell everyone or hide it better (you put it in your profile, if someone clicks on your name they see where you go to school and where you're currently located).

Honestly, I hope you get the PE job you're looking for, but posting this a few more times wont get you any closer. It's crap like this that ruins this board.

pelbo's picture

What are you so frustrated

O
(Monkey, 64
 
Points)
 on 7/25/07 at 12:59pm

What are you so frustrated about?

Did your MD work you 120 hours the past week, only to throw your pitch book in to the trash bin, because it was total crap?

Where else would you post about career change, than in the Jobs board? How does this "ruin" the board?

net worth or nothing's picture

Re: hey dumbass:A - maybe if

O
(King Kong, 1,146
 
Points)
 on 7/25/07 at 1:10pm
vandeja1:

hey dumbass:

A - maybe if you post this again you'll get the response you're looking for. Go talk to your career center, people you trust, etc...

B- Way to try to be vague about your school. You go to UT - McCombs. I couldn't care less either way, but either tell everyone or hide it better (you put it in your profile, if someone clicks on your name they see where you go to school and where you're currently located).

Honestly, I hope you get the PE job you're looking for, but posting this a few more times wont get you any closer. It's crap like this that ruins this board.

You're a bloody idiot Vendeja! Shut the hell up and take my order: 1 order of Pappadums, 1 Bottle of Jonnie Walker 3) order of Butter Chicken [Go light on the cream, I don't want to stretch out my w34 l34 new armani pants]

My second point: You're a bloody idiot
My third point: Clean your uniform, it's getting dirty

pelbo's picture

Hi Vadremc, Thanks for your

O
(Monkey, 64
 
Points)
 on 7/26/07 at 12:34am

Hi Vadremc,

Thanks for your reply.

[Either you want to go into PE or IB. Choose a path and follow it. Later down the road you can decide to change directions from either one of those areas.]
My ultimate goal is PE, but I would be happy to do IB for a few years and get the experience and the name on the resume, before moving to PE.

[How else would you get into the IB out of B-school? student to MD? Let's be realistic. You are joining as an Associate and you will probably have a few years on your peers]
I agree. I am just concerned about any sort of age discrimination. On the positive side, I do look a couple of years younger than I am, for whatever that is worth :)

[All depends on where you went to school. You said top twenty. You'd be surprised how the Top Ten and Bottom Ten contrast in opportunities. You do have a shot.]
I agree, but I got to work with what I have.

[This may sound harsh, but given your age and top 20 school affiliation, you need the charter designation now to enhance your candidacy at a top PE or IB. "Progress" is a mute point. Be sure to knock it out come June 2008.]
That's the plan. I need to start studying for the L2 soon. I have heard though that CFA doesn't matter in the IB world and that in the PE world it is only marginally more valued (unless you are talking about a PE fund of fund type place). I do understand that for a non-finance background guy, the CFA does add some needed finance-dust to the resume.

[ I would say 30 - 40% for a top PE shop. Pass level 2 of the CFA, and I'd say 50/50. Anything's possible...]

Thanks for youre response. Can I ask what your background is? I am just tyring to understand where your perspective comes from. Thanks.

Pelbo

6 Free Financial Modeling Lessons...Straight to Your Inbox.

Confirm your name and e-mail below to get our best tips

Monkey Stats
Account information
We respect your Name and E-mail privacy. By joining you accept our terms of service.