IB or PE from undergrad?
Hi all, I'm a current sophomore at a non-target. Over the past year I have done a ton of networking and recruiting preparation, and managed to have gotten some interesting opportunities to consider. I have standing offers to join a PE or VC firm for this upcoming summer.
On the IB route, I have a few solid connections and referrals at boutiques that will be recruiting in the coming months, and have heard a lot of great things from them regarding deals and team culture. Not to mention they said they are doing great on comp since the smaller banks with tighter teams they are on didn't screw over their juniors on comp like some big banks.
On the PE side, I will have a good chance of taking a direct route to a PE role out of undergrad. I have an offer from a MM PE fund that has historically returned great returns. I am also in talks with a few other MM funds regarding internships.
From what I can tell, the comp from the MM funds and Boutique funds are comparable (give or take +/- 20k on WSO data) for the analyst level... But the PE path would provide a quicker jump to ASO 1 where I would be pushing 300k+ 2-3 years out of school and also getting access to carry within the funds much earlier.
Overall, I am looking for thoughts on whether the IB recruiting route should still be an attractive route to follow. On one hand I think the years in IB (assuming I even get an offer) would be invaluable, and I would get to live in NYC which has been a dream for awhile, but I think a lot of me says the PE route is a no brainer if I can do it.
It all depends on what you are looking for long-term. If you're dead set on MM PE then I would say this is a pretty straight forward decision, except for the fact that the pay will likely be lower ( all the MM PE's I've looked at pay below street for IB).
If you are looking to break into UMM PE or MF PE long term, then the IB stint could help with recruiting and landing at a larger firm.
The last implication I would consider is B-school again, going to a better bank will help with getting into a top MBA program if that's something your interested.
Ultimately there is no right or wrong answer here but the factors you should consider are compensation, ability to get into a larger fund later on, and B school recruiting.
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