Need some input on a random shower thought
Basically: how hard is it really to break into PE from IB when you factor in the sheer number of bankers applying? Everyone hypes IB as the best feeder into PE, but when you adjust for the insane competition (tons of analysts applying for relatively few spots), is it actually the best path compared to consulting, corp dev, etc.?
On one hand, IB clearly places the most people into PE, but on the other hand, the success rate per applicant seems lower because every analyst at a BB/EB/MM is trying to lateral. Meanwhile, consulting (MBB) places into PE, but mostly for operational or growth-focused roles, and restructuring firms (A&M, FTI, etc.) seem to have a niche route into distressed PE. Corp dev also occasionally makes the jump, but it seems super rare. Is that really because of a lack of relevant experience or moreso because they just don't want to do PE?
Also, given that there are a million PE firms beyond just Blackstone/Apollo/KKR, does this make IB the clear best option, or is it still more competitive than people assume? Curious to hear from y'all.
Bump
Bump
I agree that seats at MFPEs are very limited (usually 3-4 associates per group) and very competitive even for bankers at top banking groups. However, in the bigger picture, there are a lot of MM/LMM PE shops that pay incredibly well and do interesting deals.
Also, I think there's definitely a selection bias because most of the people on this forum see the IB to PE route as the "golden path" but in reality, a lot of people exit to non-PE roles. Essentially, IB to top MFPEs is very competitive, but IB to PE more broadly is reasonable.
Interesting
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