GS/JPM/MS top group vs. KKR/BX/APO/Bain buyout (PC/RE/Corp/Infra), which would you pick out of grad and why?
I was leaning towards MF due to its rarity (“prestige”) this early in my career, but would like to hear both sides. I’ve heard MF comp is same across groups and roughly equivalent to BB, so what are the advantages of a BB experience?
Also please ignore title, I am an incoming grad trying to navigate my career.
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End of the day, depends on what you like in terms of industry and asset class, and that we cannot choose for you. Sure if you're gunning for muh prestige take the MF offer, whatever.
I would take MF and don’t look back. Even top analysts at a top group from any of these BB would be lucky to land a spot at these MFs. Don’t underestimate the volume of talent competing for a single seat at these funds, speaking from experience
True there's like 150-200 (correct if wrong) associate seats per year at MFs. Now compare that to BB seats
^^ this is still much smaller than the size of a single class at a BB. Add EB talent to the mix and statistically any seat at these funds is like a lottery. Easy choice
Maybe globally but this seems way high for NY
dude admitting to inflating his anonymous title on WSO
The advantage of BB is optionality and branding. If you're not sure what you want to do, saying you started in GS IB will bring you far in any industry. KKR and APO are top names in this corner of the world, but those brands don't mean much to someone outside of finance.
If you are set on PE then I would take the MF, although you list a ton of different groups and for 3 of the 4 I'd say make sure you have a strong interest. Infra and RE are both niche products and will be hard to get to corp buyout from there, would have to significantly downgrade firms to do it; PC is not buyout. If you have a strong interest in the group that's one thing, but I wouldn't take a group you dislike at MF because it'll be damn hard to move from there.
If you want to stay in finance and are interested in those groups take the MF. The risk of not making it back to these funds is much higher than the risk of being unable to move to a different buyout role. Like you said, you will have a more unique background with a top brand. Corp/infra/RE is not rocket science and you won’t have to worry about any haircuts at these funds across them so there’s nothing to lose.
If you’re questioning staying in banking you can also always move MF>banking, other way around will make you battle for spots with everyone else.
Buyout != PC/RE/Infra
dude MF is the exit why is this even a question, ESPECIALLY non-corp roles those are gold mines at MF for pay and WLB (except maybe RE heard it’s just like Corp)
I second this, currently in RE at one of these funds and get paid the same as corporate PE at slightly (albeit very slightly) more reasonable hours. But, you should be interested in what you’re going into. You can always leverage the brand to pivot back into banking, but at the same time, any MF buyside role, RE, corp, or otherwise, will squeeze you out if you don’t carry a genuine interest
If you want to do PE at some point you should just do it now. I made the jump having only done part of an IB analyst program. Yeah it was tough getting up to speed but I’m just glad to be getting buyside deal reps this early. Steep learning curve but I would argue starting your career in PE is a distinct advantage if you’re passionate about investing.
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