Guidance Needed: Career Path After Private Debt Apprenticeship
Hey everyone,
I'm currently a student in France at a non-target school and I just landed an apprenticeship for next year at a private debt fund in Paris. I'm really excited about this opportunity, but I have some concerns and would love to get your guidance.
The fund where I'll be doing my apprenticeship hasn't converted any apprentices into full-time hires so far, which makes me a bit unsure about my chances of getting a permanent position with them. My ultimate goal is to land a job at a bigger private debt fund. So, I have a few questions:
- Continuing Education:
- Is it worth it to pursue a Master's degree (MSc) at a target school like ESCP or ESSEC after my apprenticeship? Considering the cost, is it worth the investment?
- Pursuing Internships:
- If it's not worth it, would it be a better strategy to go for internships at larger private debt funds instead? Given that I might not get a direct full-time offer, does it make sense to focus on gaining more experience through internships?
- If I do pursue these internships but don't manage to secure a full-time role at a private debt fund, would I still be able to aim for full-time positions in Leveraged Finance or Debt Advisory without having specific internships in those areas?
I'm open to all your suggestions and perspectives. I want to make sure I choose the most strategic path to reach my career goals. Thanks in advance for your advice!
Based on the most helpful WSO content, here are some insights and suggestions for your situation:
Continuing Education:
Pursuing Internships:
Additional Tips: - Networking: Continuously build and leverage your network. Attend industry events, join relevant finance clubs, and connect with alumni from your school. - Skill Development: Focus on developing technical skills, such as financial modeling and analysis, which are highly valued in private debt, leveraged finance, and debt advisory roles. - Interview Preparation: Perfect your interview skills, especially the soft skills portion, as they are critical in the finance industry.
By strategically combining education, internships, and networking, you can enhance your chances of achieving your career goals in the finance industry.
Sources: Please Advise: Never-Ending Job Hunt, graduated may 2019 and recently laid off first job, Should I Slow Down?, Need direction in life, Medical School --> IBanking
bump
1 - Yes, Msc at those schools do open a lot more opportunities than non-targets especially for larger funds/banks. I would argue it is worth the 20-25k investment.
2 - Should keep in mind that Private Credit teams in Paris are very lean and many do not have juniors - they outsource work to juniors in their London offices. FT recruitment in PC in Paris is very very difficult as a result since spots are quite limited. Nearly all funds take interns but very rarely do they offer FT positions afterwards. My advice would be to do another internship in sell-side to try converting it or find sell-side FT elsewhere afterwards to then aim for PC recruitment at the Analyst 2-3 or Aso stage. Recruiters for sell-side roles prefer candidates who already have sell-side experience over PC experience even for credit oriented positions. You can search the LinkedIn profiles of ex-interns at the top PC shops in Paris (CVC, Ardian, Ares, BlackRock, etc.) and will see that most went sell-side for FT afterwards (at less reputable shops too).
Hope this helps
Thank you for your advice!
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