Texas Pacific Group

CS LA - Generalist

they love GS TMT

GS TMT, was a UBS LA summer before GS TMT

took 3 (offered 4) GS TMT for this upcoming year

Gosh, 3 from GS TMT alone?

Any associates there not from top 5 groups? How many associates do they take a year in the US?

Is the reason they take so many from GS TMT because of the quality of the analysts in the group, or because a lot of TPG's transactions are in the TMT space?

Would a non-TMT GS analyst have an equal opportunity to interview and make their case?

What is this about a UBS LA summer who is going to TPG. Is that out of undergrad? If so, wow.

Even if you get a chance to go to Blackstone or TPG. In the longer term, I think it would be better to do 2 years in banking first. I also wouldn't be afraid to pass up the opportunity. If you are good enough to go to PE out of undergrad, you will definately be good enough to go after banking.

You really can't beat the name brand, social network, and training you get in banking. PE is hot now, but so was the tech bubble back in the late 90's. And I know PE is here to stay, but what happens when liquidity shrinks... It's going to happen. Banks are now and will always the staple of finance.

I met a guy who turned down an offer at Blackstone to stay at GS for full time. The culture there just wasn't for him. You are given soo much responsiblilty and there are soo many ways you could mess up. You're work isn't checked as much because there are soo few people. At 2 am, it's just you and a couple other analysts typing away. There is no bullpen and cubicle walls are sky high. It's a very lonely place to start a career in finance. And to him, it just wasn't a good enviornment to learn how to be a professional.

Obviously, Blackstone and TPG are great. But I think the right time is after banking. You are just too young for that stuff out of undergrad. I think the most telling sign is that almost none of the people who were Blackstone PE analysts stayed or left for other megafund PE shops. Most left for middle market PE or Hedge Funds. I know they left for a better lifestyle or more money, but if PE is supposed to be so great... it just doesn't feel right.

When you are fresh out of undergrad, I think you almost need to be nurtured in banking. If you call banking nurturing... lol

it's getting late now and I have a model due in the morning.

GSBanker, I agree with what you're saying about it being better to try and get into ibanking after undergrad rather than going straight into PE.

Do you have the same opinion about people going into PE straight after b-school and with no prior financial experience?

If you want to work there, or at any PE firm, get the name right.

Know an associate there, it is an absolute sweat shop, but comp is always top of the line.