What where the last job positions of your VP/MD (before being VP/MD)?

HFPM

17y

Huh? No one goes from PE to banking. I assure you of that fact.

Authored by: Certified Hedge Fund Professional - Portfolio ManagerCertified Hedge Fund Pro

vvslaxman

17y

I work for a tier-one M&A group. Depending on who you ask, possibly the best M&A focused platform on the street.

I would say about half of the VPs/Directors have spent time at private equity funds before returning to M&A (some mid market/some larger firms like TPG). A number of the associates we hire have worked at PE funds prior to B-school.

HFPM

17y

ExGSBanker:
Huh? No one goes from PE to banking. I assure you of that fact.

Sorry - I meant Top Tier PE. I know a lot of ppl who do MM PE and then BB Banking...

Authored by: Certified Hedge Fund Professional - Portfolio ManagerCertified Hedge Fund Pro

vvslaxman

17y

Best Response

I know a few people who have (myself included), but these guys were invariably either not happy or not successful.

I left a B+ firm (one tier below Blackstone, TPG, KKR) to return to M&A because I missed the "deal" environment, and was happier running and negotiating deals than I was doing analysis and due diligence.

And for people more senior:

I knew a guy who is the head of a major group on Wall Street, who was poached away to head an industry vertical at a major fund, who told he came back to the same bank because he couldn't deal with the slower pace of private equity.

And there's Brian Finn, who used to run M&A at CSFB, who went to CD&R and came back. My friends at CD&R who say he was a much more talented banker than investor.

The skill sets get very different at a senior level. Some people (i.e., Schwarzman) can do both. Manry others (i.e., Wasserstein) cannot.

StreetLuck

17y

thesquare:
I know a few people who have (myself included), but these guys were invariably either not happy or not successful.
I left a B+ firm (one tier below Blackstone, TPG, KKR) to return to M&A because I missed the "deal" environment, and was happier running and negotiating deals than I was doing analysis and due diligence.

And for people more senior:

I knew a guy who is the head of a major group on Wall Street, who was poached away to head an industry vertical at a major fund, who told he came back to the same bank because he couldn't deal with the slower pace of private equity.

And there's Brian Finn, who used to run M&A at CSFB, who went to CD&R and came back. My friends at CD&R who say he was a much more talented banker than investor.

The skill sets get very different at a senior level. Some people (i.e., Schwarzman) can do both. Manry others (i.e., Wasserstein) cannot.

If an analyst(after 2 years) with good reviews and ranked around the top of their class wanted to try out PE or another opportunity on the buyside for a year or two, but then decided they didn't like it and wanted to return to IB, will their old firm (or a firm of similar quality) take them back as an associate, or will they have to go get their MBA and reapply?

Interview Guides GMAT Tutors WSO Resume Review

vvslaxman

17y

"If an analyst(after 2 years) with good reviews and ranked around the top of their class wanted to try out PE or another opportunity on the buyside for a year or two, but then decided they didn't like it and wanted to return to IB, will their old firm (or a firm of similar quality) take them back as an associate, or will they have to go get their MBA and reapply?"

In a market like this where people are starved for good associates, that's possible. In a more neutral or down market, the expectation is probably that you would go to business school

GameTheory

17y

Sit commodi qui ipsum minima. Adipisci velit dolorem magni incidunt pariatur maiores sed ipsam.

Cumque dicta quia aut perspiciatis. Sint cumque architecto nisi. Et est aut qui rem eius eum.