GPA is not really the deciding factor here. I'd say 3.7+ is the bar to be competitive, but someone with a 4.0 is not automatically ahead - once you reach the minimum GPA it's about other things. Majority of their interns attend a target school (primarily Harvard/Wharton), are diversity, or have some amazing hook (founder of successful business, D1 athletics starter, etc). Also, a lot of their FT spots are held for people who interned there sophomore summer (often from the aforementioned target schools) who do a banking summer and then return to the PE shop for full-time.

There are <10 spots per firm so if you're not at a top target or a national standout, your chances are basically a rounding error. Of course apply but don't spend your whole sophomore year networking for that abysmal chance - you have better chances working your way into a top IB group that regularly places into MF PE

 

SAs in these programs are hired with the intention of giving them a spot, so you have to mess up to not get one.

~80% is a good number to think about if you want one, but that is a lot of "we took 5 interns and 1 decided quickly they did not want the PE lifestyle and the no return was basically mutual"

I think KKR/BX are known to have slightly lower return rates but the sample sizes are so small that it's hard to say why. Again, similar to banking, if you do well + work hard there is a spot for you

 

Thanks! Starting my SA stint next summer and was very worried about the lower return rate, so I was a bit insecure and once even thought of going back to FT recruiting. That's a great mindset to have - work hard and stay humble. 

 

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