My journey from no-name boutique to PE MF

I have been a long time lurker and recent poster here, I have got so much from this community, I can say I would not have done it without you so I think it is time to give something back. I am sure you heard stories like mine but I hope this can be inspirational to some of you.

My background:

I come from a very low-income family in continental Europe (I am not afraid to say my family cannot make it till the end of the month). I was the first to ever attend university, I got a BSc in Finance with top grades from my hometown university because it was the only place where I could afford to study and I made it thanks to the scholarships my university paid and to my work as a tutor. Starting in university I had no target job, but towards the end of my bachelor watching some finance movies I got interested into M&A and PE. So I looked at some MSc, got a good GMAT and got admission into some top schools in the UK. Sadly, I did not attend because I did not find a way to pay the tuition.

The heartbreak:

It was heartbreaking because I thought going to a top school was the only way to get an M&A job at a BB so I spent some weeks crying (I know it sounds stupid).I decided to defer my offer with the plan to work for a year, make money and then attend the MSc. I applied to all jobs on BB job boards, I spent 3 months checking their websites day and night and networking. In the end I got a 6 month BO internship at BB, I accepted the offer because it was a good way to make money and add a good brand on my cv. While interning I was still applying to M&A jobs in the UK, through networking I got some interviews but no offer, I kept applying but nothing was working out and in the end I spent 1 year unemployed.

Picking myself up:

That time spent unemployed made me feel useless and depressed like I had no purpose on this world, in the meantime I took level 1 of the CFA and I decided to apply to M&A jobs in my country and thanks to some luck I got an analyst job at a small unknown boutique. The pay was rather low, I could barely make it till the end of the month but I was happy to finally work again. My plan was to work sometime there and then lateral to a BB in the UK. In the meantime I also passed the 2nd level of the CFA.

Networking paid off:

Even when I was unemployed I kept networking and applying, the feedback was that I could never get an M&A job with no previous M&A experience, so after I started working for the boutique in my country I was feeling it was just a matter of time until I got what I wanted. After starting at the boutique, thanks to networking I got 2 interviews, an EB in my country and a MF. I got an offer from both of them and I chose the MF because the economic offer was superior.

It has been some months since I started and I now feel happier than ever, I love my job and I can help my family plus I see increasing opportunities opening up for me. The matter of the story is to never give up and always try, even when it seems impossible, always work hard, have a plan and you will reach your goals. There is no magic, that's life.

Where to start:

For those of you that aren't sure where to start (networking and/or interview prep) or want to make sure you're ready for tough LBO modeling tests, I'd recommend the WSO Private Equity Interview Course as a great resource.

Mod Note (Andy): Throwback Thursday, this was originally posted Jan 2017

 
Embiv:
Congradulations!!!

It has been some autoclickermonths since jumble solverI started and I now feel happier than ever, word unscramblerI love my job and I can help my family plus I see increasing opportunities opening up for me. The matter of the story is to never give up and always try, even when it seems impossible, always work hard, have a plan and you will reach your goals. There is no magic, that's life.

 

I'm a little confused, could you elaborate on that last part? Did you ever make the lateral to the BB before going to the MF? Or did you go straight from the no-name boutique to the MF?

The fool thinks himself to be a wise man, while the wise man thinks himself to be a fool.
 

Inspiring story. From personal experience, I'll just change the last sentence to this.

Somewhere along the line, magic is gonna help you. You think it wasn't magic that made Trump, Cavs and Cubs, all underdogs, champions in 2016. Magic finds those who keep going at it.

 

True strength of a man can be seen when he admits he cries. I am happy for you and thanks for inspiring story :)

Watch your thoughts, they become words; watch your words, they become actions; watch your actions, they become habits; watch your habits, they become character; watch your character, for it becomes your destiny
 

Congratulations sir! I would like to know the rationale of a MF PE to take in a no-name boutique kid from a non-target to run their models and DD processes.

Was the firm time-constrained or did you get an opportunity to show the quality of your output by doing client-work for them? I can't see them taking the risk in other scenarios.

 

"The harder you work, the luckier you get" "Everything happens for a reason"

Two quotes I have found to be very true for me in my journey as well. Thanks for the inspiring story. As a non-target student trying to break into the industry, the key is to simply never give up

 

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Watch your thoughts, they become words; watch your words, they become actions; watch your actions, they become habits; watch your habits, they become character; watch your character, for it becomes your destiny
 

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