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I know that very few people get hired to decent firms out of undergrad. However, I am wondering if these people had summer experience in IB before they were hired. Or do PE shops who take undergrads train them in modeling? Thanks.

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Comments (40)

  • turtles's picture

    Only kid I know going top tier PE had a fall semester internship (term off) at a top 3 BB in FIG where he was one of only 3 interns and at one point logged 140 hours in a single week. He had to go through 16 rounds of interviews and network to get that PE gig and that is only for SA. He'll be a senior at an Ivy in the fall and has a stellar resume so... it's not easy.

  • stvr2013's picture

    A decent-sized fund ($1BN +) interviewed at my school for SA. I got an interview without any IB experience or anything through networking. My past internships included BB PWM and a HFoF. I didn't get the job and I don't know if they took anyone from my school, but it is possible without prior IB/PE experience.

    I would be able to demonstrate that you have some modeling skills though because I can guarantee your competition will.

  • maseratimike's picture

    Yes, top funds recruit from top schools. I have seen post from top PE firms on my career centers job posting, but they are always looking for the very very top students--think almost perfect transcript +Work EX+ extracurriculars

  • In reply to turtles
    SECfinance's picture

    turtles:
    at one point logged 140 hours in a single week

    Bullshit.

    MM IB -> Corporate Development

  • bumpthethread's picture

    Blackstone recruits here at Cornell. I know a person who got REPE and he (she?) worked in IBD during junior summer.

    p.s. I'm pretty sure it's REPE...definitely PE I'm just not that sure which group

  • TheKid1's picture

    I met one person, who went to Wharton and did GS TMT during junior year and got into KKR.

  • In reply to bumpthethread
    gammaovertheta's picture

    bumpthethread:
    Blackstone recruits here at Cornell. I know a person who got REPE and he (she?) worked in IBD during junior summer.

    p.s. I'm pretty sure it's REPE...definitely PE I'm just not that sure which group


    I also go to Cornell and know who you're talking about. She - I have no idea how you forgot her gender (wtf??) - worked in IBD at DB last summer like an absolute animal. She put in ridiculous overtime. I forgot which group she worked in. She is going to Blackstone REPE.
    I know one other kid from Cornell going to PE but those are the only two I'm aware of

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  • Maximus Decimus Meridius's picture

    I know about guy who got in Blackstone PE in London. He says he was the only one in PE straight from undergrad in the office, at least that year. Long distance acquaintance though, so not really sure hoy reliable the info is. The guy did have an incredible resume, like MM IB, GS and MS IBD internships, num 1 in grades from num 1 uni in the country, extracurriculars bla bla bla

  • seedy underbelly's picture

    Don't personally know, nor can I track anyone, from my current school (Yale) or past school (Columbia) who got megafund PE straight out of undergrad. However, I can see a couple people from each having gone to Audax/Pegasus, etc. and then later to Carlyle/TPG.

    That said, I think BX PE recruits a Wharton or Harvard student every year. Last year it was a Wharton girl who graduated with a 3.9+ and interned at GS TMT the summer before OCR. You need to be very well-connected and extremely high-acheiving (3.85 minimum).

    Either way, it's doable. People have gotten much more lucrative gigs post college than mega fund PE. I'm not sure if you know the Dartmouth kid who landed a position at Paulson & Co. out of college a few years ago. Bought a place in NYC in his first year most mega-fund VPs could only dream of. :P

  • In reply to gammaovertheta
    bumpthethread's picture

    gammaovertheta:
    bumpthethread:
    Blackstone recruits here at Cornell. I know a person who got REPE and he (she?) worked in IBD during junior summer.

    p.s. I'm pretty sure it's REPE...definitely PE I'm just not that sure which group


    I also go to Cornell and know who you're talking about. She - I have no idea how you forgot her gender (wtf??) - worked in IBD at DB last summer like an absolute animal. She put in ridiculous overtime. I forgot which group she worked in. She is going to Blackstone REPE.
    I know one other kid from Cornell going to PE but those are the only two I'm aware of

    lol sorry. I don't know her personally. I just know that it's a senior in the hotel school (heard from my friend) - didn't really know the name.

  • YGCS's picture

    Ya it is JH, who is BX.

    All in all, it is very tough. High GPA is pretty much a must along with baller internships

  • couchy's picture

    There goes my dreams... I did multiple Internships at a pe fund filled with ex goldman guys and thy gold me I wouldn't get a full time offer

  • In reply to couchy
    captainkoolaid's picture

    couchy:
    There goes my dreams... I did multiple Internships at a pe fund filled with ex goldman guys and thy gold me I wouldn't get a full time offer

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  • Ambition's picture

    my friend from OSU interned his junior year at GS ER and now he is doing PE at Maq in NYC and austrialia (its based out of there)

    I want a lady on the street, but a freak in the bed,

    Go Bucks!!

  • In reply to seedy underbelly
    HarvardOrBust's picture

    seedy underbelly:
    Don't personally know, nor can I track anyone, from my current school (Yale) or past school (Columbia) who got megafund PE straight out of undergrad. However, I can see a couple people from each having gone to Audax/Pegasus, etc. and then later to Carlyle/TPG.

    That said, I think BX PE recruits a Wharton or Harvard student every year. Last year it was a Wharton girl who graduated with a 3.9+ and interned at GS TMT the summer before OCR. You need to be very well-connected and extremely high-acheiving (3.85 minimum).

    Either way, it's doable. People have gotten much more lucrative gigs post college than mega fund PE. I'm not sure if you know the Dartmouth kid who landed a position at Paulson & Co. out of college a few years ago. Bought a place in NYC in his first year most mega-fund VPs could only dream of. :P

    You transferred twice?

  • In reply to blueslord2910
    Ambition's picture

    blueslord2910:
    GS ER in NYC?

    Ambition:
    my friend from OSU interned his junior year at GS ER and now he is doing PE at Maq in NYC and austrialia (its based out of there)

    yep

    I want a lady on the street, but a freak in the bed,

    Go Bucks!!

  • burnt tangerine's picture

    There are posts on this website that indicate some lower ranked schools, such as UVA and UT, send one student a year to some big PE funds. Alas, those posts are from pre-crisis days and may not hold true anymore.

    Tangentially related question: Do the people who get megafund PE out of undergrad get to go to HBS, Stanford, or Wharton after just two years?

  • brandon st randy's picture

    I know that Jon Gray joined Blackstone REPE right after undergrad at U Penn. He has spent his entire professional career there, was co-head of real estate investments along with Chad Pike where he was responsible for the HIlton Hotels acquisition. He is now global head of real estate and on the board of directors.

    Too late for second-guessing Too late to go back to sleep.

  • In reply to bumpthethread
    IBTeaching's picture

    bumpthethread:
    gammaovertheta:
    bumpthethread:
    Blackstone recruits here at Cornell. I know a person who got REPE and he (she?) worked in IBD during junior summer.

    p.s. I'm pretty sure it's REPE...definitely PE I'm just not that sure which group


    I also go to Cornell and know who you're talking about. She - I have no idea how you forgot her gender (wtf??) - worked in IBD at DB last summer like an absolute animal. She put in ridiculous overtime. I forgot which group she worked in. She is going to Blackstone REPE.
    I know one other kid from Cornell going to PE but those are the only two I'm aware of

    lol sorry. I don't know her personally. I just know that it's a senior in the hotel school (heard from my friend) - didn't really know the name.

    Yea, she beasted. REPE only goes after hotelies though, no? I don't know anyone from AEM who has gone from UGrad to PE in any capacity.

  • In reply to IBTeaching
    gammaovertheta's picture

    IBTeaching:
    Yea, she beasted. REPE only goes after hotelies though, no? I don't know anyone from AEM who has gone from UGrad to PE in any capacity.

    I don't think AEM places well into such intensive roles to be honest, though it is hard to generalize, since PE recruits are such a small sample. The other person I refer to above is Econ (I'm pretty sure, def not AEM).
  • artfuldodger23's picture

    Are these elite firms the only place you can work PE out of?

  • TurquoiseHexagon's picture

    Off the top of my head, the following places have hired summer interns from Wharton

    BX
    Apollo (REPE)
    Sankaty
    GSIP (posted, not sure if they took anyone)
    Silver Lake
    Ares

    All of them hire FT. Other places that I know have hired FT include Audax, Leonard Green, Oaktree (not sure if for PE specifically) and Pegasus. Banking is basically a prereq, but the guy interning at Silver Lake this summer has a lot of startup experience. Obviously most of these people are brilliant and did "everything right".

  • In reply to TurquoiseHexagon
    gammaovertheta's picture

    TurquoiseHexagon:
    Off the top of my head, the following places have hired summer interns from Wharton

    BX
    Apollo (REPE)
    Sankaty
    GSIP (posted, not sure if they took anyone)
    Silver Lake
    Ares

    All of them hire FT. Other places that I know have hired FT include Audax, Leonard Green, Oaktree (not sure if for PE specifically) and Pegasus. Banking is basically a prereq, but the guy interning at Silver Lake this summer has a lot of startup experience. Obviously most of these people are brilliant and did "everything right".


    Does GSIP have a PE component? I was under the impression that they are entirely a l/s hedge fund.
  • TurquoiseHexagon's picture

    You're right, my bad.

    I remember people saying they weren't using one of their three choices to apply for GSIP because it's such a crapshoot and figured that it's the PE arm.

  • In reply to TurquoiseHexagon
    gammaovertheta's picture

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