Trending Content - Investment Banking Forum
Career Resources
WSO Free Modeling Series - Now Open Through
August 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
mistake, sorry
Huh? No one goes from PE to banking. I assure you of that fact.
I work for a tier-one M&A group. Depending on who you ask, possibly the best M&A focused platform on the street.
I would say about half of the VPs/Directors have spent time at private equity funds before returning to M&A (some mid market/some larger firms like TPG). A number of the associates we hire have worked at PE funds prior to B-school.
Sorry - I meant Top Tier PE. I know a lot of ppl who do MM PE and then BB Banking...
I know a few people who have (myself included), but these guys were invariably either not happy or not successful.
I left a B+ firm (one tier below Blackstone, TPG, KKR) to return to M&A because I missed the "deal" environment, and was happier running and negotiating deals than I was doing analysis and due diligence.
And for people more senior:
I knew a guy who is the head of a major group on Wall Street, who was poached away to head an industry vertical at a major fund, who told he came back to the same bank because he couldn't deal with the slower pace of private equity.
And there's Brian Finn, who used to run M&A at CSFB, who went to CD&R and came back. My friends at CD&R who say he was a much more talented banker than investor.
The skill sets get very different at a senior level. Some people (i.e., Schwarzman) can do both. Manry others (i.e., Wasserstein) cannot.
"If an analyst(after 2 years) with good reviews and ranked around the top of their class wanted to try out PE or another opportunity on the buyside for a year or two, but then decided they didn't like it and wanted to return to IB, will their old firm (or a firm of similar quality) take them back as an associate, or will they have to go get their MBA and reapply?"
In a market like this where people are starved for good associates, that's possible. In a more neutral or down market, the expectation is probably that you would go to business school
Modi et sequi nobis omnis voluptate. Non voluptate voluptates exercitationem.
Odio est sit maxime et ad est. Ut facilis voluptates suscipit rerum aut pariatur quo id. Et nihil repellendus alias. Qui et officiis omnis id. Laudantium vero illo mollitia. In omnis labore aut et et accusamus aperiam. Aut nulla et et dolor consequuntur iure.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...