Hello, I'm a junior at a semi-target with decent GPA and a boutique PE internship during sophomore summer. I went through SA recruiting, got a few superdays but still no offer. Right now I have a PE offer (AUM >3bn but not well known) and am still talking to an EB. At this time I'll most likely go for the PE offer.
My question is will having two PE internships and no IB experience greatly affect my chances in FT this fall. Do people just assume that I want to go back to PE after two years IB? How should I phrase the story?
I'd also appreciate any advice on FT recruiting. Almost no bank or alum group does OCR for FT and I've used most alum contacts during SA recruiting. Should I start reaching out new contacts now or later in the summer? Thanks!
Just have your "why not buy-side?" answer done well, and you will be more than fine. I was in a similar position.
Definitely agree with TheOceanizer on having "Why not PE?" down. But will add that you should have a good explanation for why you didn't do IB this summer (hint: I didn't get any IB offers is not a good explanation).
Take the PE offer. The answer to why not IB this summer is simple - I got a PE offer first and took it, while some IBs I was interviewing with were still in process. You took the bird in hand at a fantastic opportunity; no one will argue with that. The why IB is also an easy thing to answer for full time.
Echo all the above. Another good thing to mention in interviews is that after working in PE, you want to work on and see deals from the other side of the table.
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