10/11/08

I'm applying to HBS as a hedge against the market. I'm curious what the prospects post-bschool are if I don't do a complete analyst stint. Are opportunities still available? Does it make a difference whether I complete my current analyst year and then go to bschool versus quitting after (and if) I get accepted and lounging around/traveling between the acceptance and matriculation? Or would it be more advisable to just finish my 2 years, try to get a pre-MBA buyside gig, and then do bschool?

I had previously been accepted to Fuqua out of undergrad, but I declined as I was under the impression that bschool w/o experience is useless (and becuase I didn't want to go to Fuqua)... the deterioration of current markets, however, has me rethinking.

Comments (9)

10/11/08

...it kind of depends on your story. The application is all about weaving a story that shows you are a leader. If you lounge around / travel it will be harder to explain that gap. If you travel and start a business abroad then that is much more interesting and would be seen in a much more positive light. I don't think quitting before 2 years is up is advisable but I'm probably biased because I worked for 6 years and now I'm at Wharton (and I really think the extra experience helps me get the most out of my classes and classmates).

The good news if you are set on going to HBS is that they are really going younger. the bad news for you as a male (for your chances of getting in) is that they are also increasing their female population significantly(up to 38% vs. 31% last yr).

Also, if you are set on doing PE or buyside work post-mba, you need to work in PE pre-mba. While there are success stories of students jumping to the buy-side out of b school with no prior experience, they are few and far between. Most spots go to the students that already have PE experience pre-MBA.

hope that helps,
Patrick

ps - i did 2 yrs of banking and 4 at a MM PE shop in nyc.

Accepted.com
10/11/08

Sorry to invade your posting. I have a question for patrick. I just got an offer from a boutique IB in LA. This boutique just raised an Private equity fund. Apparently, when I start my analyst gig, if I don't get laid off before then, I'll have the opportunity to do work on both the IB side and the Private equity fund. Will this help me get a buy side job, assuming I go to BSchool and get an MBA down the road? or will I have to do a buy side gig and go to bschool in order to be considered for PE job? Thanks

10/11/08

Sounds like you have an offer for Moelis.

I'd assume you'd get to work on some of their proprietary investments. This should help if you're looking to transfer to the buy side after your 2 year gig. I can't comment on how active Moelis is/will be on the merchant banking side. To my knowledge, they're predominantly M&A/advisory. I do not speak from first-hand experience, however.

10/12/08

Thanks - the lounging/traveling would be contingent on first getting accepted, so I don't think the gap will be an issue.

10/12/08

Patrick, what's your situation in terms of family? As you've been working for 6 years, you should be around 28/29 right now. One thing that I'm trying to do is to go to bschool young enough where I can still have a good time [24/25/26ish] before I have to settle down. I think late 20s is a good time to do the whole marriage/family/picket-fence thing. Granted, it's not always possible to plan these things out, but I think I'd be happier at school at a younger age.

10/12/08

mlamb. would you happen to know about the lifestyle and intensity at moelis?

In reply to b2
10/13/08
b2:

Patrick, what's your situation in terms of family? As you've been working for 6 years, you should be around 28/29 right now. One thing that I'm trying to do is to go to bschool young enough where I can still have a good time [24/25/26ish] before I have to settle down. I think late 20s is a good time to do the whole marriage/family/picket-fence thing. Granted, it's not always possible to plan these things out, but I think I'd be happier at school at a younger age.

did my girlfriend hire you to write that?

I'm fine starting a family in my early to mid-30s. I'm 28 right now....but I can tell you school is fun at any age and you appreciate it more once you've been working for 6 years like I was.

In reply to jgrb17
10/13/08
jgrb17:

Sorry to invade your posting. I have a question for patrick. I just got an offer from a boutique IB in LA. This boutique just raised an Private equity fund. Apparently, when I start my analyst gig, if I don't get laid off before then, I'll have the opportunity to do work on both the IB side and the Private equity fund. Will this help me get a buy side job, assuming I go to BSchool and get an MBA down the road? or will I have to do a buy side gig and go to bschool in order to be considered for PE job? Thanks

you can get a job in PE working only in banking pre-MBA. my point was that it is much harder than if you have pre-MBA experience.

whether your pre-MBA experience is a hybrid banking/PE job...I'd just make sure you get to do at least one pure "PE deal" so you can have that on your resume. That way, when you're applying to PE shops you can say you've done it, you have the skills and you really enjoyed the buy-side better, bla bla bla.

so it really comes down to what experience you get with that shop...ie whether you'll be working 50/50 on both sides or more on the PE side. Maybe doing one year in IB and then 2 in PE would be a good base and in my opinion would line you up well for PE recruiting at a top MBA school.

Good Luck,
Patrick

11/1/15

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