Would you still do IB if you can get into PE straight from your undergrad?
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Interesting question. Recently was asked this in a PE internship interview. I think it depends on what your goals are, both with banking and afterwards. I think Banking is usually the boot camp, and PE is the specialization. If you are positive you want to do PE, and the PE firm teaches you everything you need to know that would've come from banking, go for it. People start with banking because of the foundation- the skills you learn, and the platform to go almost anywhere. Starting right at PE would pigeon hole you imo. But if that's what you want, go for it.
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