Currently an intern in one of the two IBD groups (GS TMT/PJT RSSG) with goals of being in MF PE. I recently received a FT offer from a MF PE for an analyst position and want to understand if it is worth going now vs. doing my IB stint and recruiting later.
Anyone gone through this predicament and can speak to the pros and cons?
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Would argue that MF PE recruiting out of banking is incredibly competitive and if the goal is MF PE would take the offer. Is the goal is any kind of PE including MM then take the PJT offer or GS since either will guarantee PE but not necessarily MF
only reason to not do it now is maybe if you don't want to go the PE/HF route and want to leave finance altogether. GS would probably be a better brand name in the outside world, but if you're at PJT, might as well do the MF PE...just a better option tbh.
Eventually I am not sure if I want to stay in finance, thus having the name brand of GS would be beneficial. I guess it sounds like that's the only benefit of staying in IB and the risk of going through recruitment again to not get an MF isn't necessarily worth that.
yea GS is probably the best place for bankers looking to move out of finance. Otherwise, would just take the MF PE because there are no guarantees if you recruit on-cycle even if you're at the best group on the street.
I would do research on the MF PE analyst program. Specifically, do analysts typically receive associate promotions after 2 years? If it's a yes, take the MF PE offer and run with it.
PE>IB
You'll learn 2x more in PE than IB, there is 0 reason to do IB if you want PE. You'll probably work on less BS in PE and probably a bit less hours.
100% take PE if theres' a chance to PE associate promotion.
In 2 years, you won't have the recruit again to PE associate, cause you'll already be there. Why put yourself through IB and PE recruitment (which is fucking hell)
If it's not a real analyst program, then proceed with more caution IMO.
MF PE since that’s your goal anyways
If your end goal is PE and you have actually thought about why you want to do private equity and are genuinely passionate, take the MF PE offer and don't look back. However, if you want to do MF PE because its prestigious, the "promise land," or stories you hear in college, proceed with caution. Hours as an associate in MF PE are pretty similar to BB IB (maybe 70-80 rather than 80-90), so I imagine it is probably worse as an analyst. Job is still pretty execution focused given MF PE shops are highly structured and have clear hierarchy.
I also thought I wanted to work in MF PE when I went into IB, but after a few months on the job as a FT employee, I realized I had absolutely no interest. A surprisingly large number of people go into GS/MS set on MF PE and realize a few months into the job it isn't for them. If you realize you don't want to do MF PE, an IBD role, especially if you're at GS, will open far more doors within and outside of finance (MF PE will still be an option, but nothing guaranteed). Maybe you can try to renegotiate your FT MF PE offer into a FT associate offer for two years from now. Before this year, they started recruiting one month into the job, so I wouldn't be surprised if they would consider changing your offer to an associate offer for 2 years post-IB.
Which school are you at?
Lower Semi-target
Should Take the MF PE offer in my opinion. If you went to a target it might be a different situation, but if you have an offer to MFPE, you should take it.
Have no insight, but want to say congrats cuz that's pretty dang impressive
Thanks man!
Like the others have said, take the MF PE offer if that's what you want. Securing a MF PE offer from even an elite IB group is hard, stressful, and not guaranteed.
what? your ultimate goal is to work for a megafund, yet you dont want to accept the megafund offer now? instead you want to take an IB job now and then hope to get into a megafund later? why would you not take the megafund offer now if thats your ultimate goal? im so confused.
Tbh I am not quite sure if MF PE is the ultimate goal, I come from an entrepreneurial background and possibly still have a desire to pursue that later on which means that 2 years in IB may give me time to figure it out and also have a strong brand name (GS) on my resume.
MF PE on the other hand would probably give me a better learning experience and would save me the trouble of going through PE recruiting. Not sure what to do yet.
Personally, I would go with MF PE, but only because I wanna recruit for HFs. A lot of HFs take kids from banking, but the top of the top shops almost only take MF PE ppl, so you have a nice opportunity if you're interested in HFs. MF PE analyst program presents a quicker route to the top HFs IMO. If PE is your goal, I would imagine many pe analysts move on to become associates, so hard to beat that too.
Would you be willing to share any tips for MF PE analyst FT recruiting? That would be highly appreciated!!
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