Small PE Firm or BB IBD

I had an offer from EB, BB and MM PE ($8-10B). Ended up choosing BB because of the brand name and personal belief that banking would give me wider exposure to different transactions.

EB? Whats your game in the long term though? Are you planning to be a banker?

EB? Whats your game in the long term though? Are you planning to be a banker?

I've been at a lower MM PE (~$1Bn) for about a year and just accepted an off cycle BB IBD offer. For me, and like Kimchi said above, it came down to wanting broader exposure and a brand name. For perspective, I was invited to interview with five or six banks and just one other PE shop over the past few months. I made it to final rounds/super days for four of the banking processes and received two offers. On the other hand, I didn't make it past the first round of the one PE process. While I can only offer a small sample, starting in PE may not negate the importance of a couple years in banking.

I would consider the PE role if it is at a larger fund though. Based on your current options, I would say BB IBD.

If you want to be in PE, then go into PE...

IB would provide a better "training ground," if you will. People realize you won't know shit when you come in, not sure if that's the mentality for PE, especially smaller PE shops where they may expect you to hit the ground running.

If you can't the latter, stick with IB. You don't want to set yourself up for failure, get frustrated, or even worse, getting fired because you are not performing (no training).

As I have said dozens of times on here (you can go through my posts for explanations), if you have an opportunity to go to a well branded PE firm with significant assets that does a lot of deals and a formal analyst program, go do that 1000% of the time. Else, go BB. A L250 AUM firm probably isn't going to cut it so I would go BB. Work your ass off for a few years in any of these environments, and dedicate yourself to learning, and you'll become a spartan regardless.

Thanks a lot guys. Still waiting to decide, I have an internship with the BB lined up before my time with PE so hopefully can decide off the back of that.

Thanks a lot guys. Still waiting to decide, I have an internship with the BB lined up before my time with PE so hopefully can decide off the back of that.

Dude are people here in high school? Banking for sure. It's extremely hard to move up market especially at a 250m fund which is on the very lower end, while good banks have a funnel to get kids into megafunds and/or multibillion dollar shops, as well as top business schools. Source: did 2yrs at BB IBD and 2 years as a PE associate

In the UK, I would go for BB IBD. If you want to end up at a megafund or decent MM shop, they do the vast majority of hiring out of BB/EB, just because it's an easy way to screen for technical competency.

From a practical perspective, BB IBD is a good training ground especially if you can get exposure to PE transactions. Experience you get at a £250m AUM shop is not necessarily going to be as relevant to the larger shops because the investment process is quite different in terms of sourcing, participating in auctions, financing, DD process, etc.

Thanks guys. Finally what can I do to guarantee I get a spot in IBD after an internship? in a financial sponsors group but I study non-finance subject and to be honest i know not that much and am not hugely proficient in excel. without dropping hundreds on wso training courses what can i do?

easy, if you want PE you need to go PE...

I see going to a BB with name recognition as a career hedge. It minimizes your downside because if you want to go into another industry, it helps to have a name on your resume that people at least recognize.

Unless you want to do lower MM PE for the rest of your life, do the BB which will you give you a better variety of exit opps.

I worked at a small ($350 AUM) PE firm during the summer before my senior year. After the internship, the fact of the matter was that the firm could pick any IB guy and he would know exactly how to do my job before I even began training materials. Although that was not a total shocker, it led me to pursue IB following that summer analyst stint for the sole reason that branding/formal training mean everything. In short, you have to learn to bale the hay before you go searching for the needle in the haystack.

I know many stories from my friends about switching PE with IB and vice versa. If you see yourself In PE in LongRun then go in PE what are you waiting for? However, if you think that you're not well prepared for it, then you probably better star in IB. I started in PE without any IB experience and I'm glad I had an opportunity like this because you have bigger exposure, better experience (you're involved in whole deal process, while in IB you make pitches and other stuff 24/7, that's job for a dumb chimp, really). And you will be able to switch PE with another PE and if you want get into IB without any difficulties, justifying you decision like "Guys, I moved out from PE to IB because I need more drive and ardor. That's it. Hope my comment will help you and you will make the right decision. GL

Only here to praise the picture.