Wondering if I could get some color on this (have a few friends who have done it). Is it a good career move to start at a MM PE fund? Anyone know how recruiting generally works (i.e. recruit on campus, usefulness of networking, etc)? Also, anyone know from past years which UMM/MM PE firms recruit in the Bay Area/Menlo Park?
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You should consider what you want in a first job when making this decision, For me it's's education, network, fun times, pay, exits
Limited poor no x, several {O]s so I'd start at somewhere more standardized first them move across. Besides seems that most people in PE went via IB @ BB -> PE or Advisory @ Big 4 -> PE or Off cycle @ PE -> PE.
Finally, you can check you last question using the Linkedin search features advanced filtering
Best of luck
Fair asessment, but the comp information is wrong. MM PE analysts tend to receive around 150-180 all-in first year, which is generally higher than BB street figures. On par with most EBs (a tiny bit lower than CVP/EVR top-bucket).
I think fit is more important in terms of why you’re there. Tbh, many people are qualified and genuinely intelligent too (capacity to think critically, creatively, add value in discussions about anything or even the hardest technicals/ build LBO’s from scratch or something, they can give IQ tests too).
in my personal experience there’s a lot on the fit side, recruiting happens on campus but has a lot of influence from alumni/ people the year ahead of you if they work at that bank or summered there. e.g. they tell who to interview and honestly if you have a shot at these intern spots you likely already know/ are good friends with the previous year interns from your school that are going FT- same clubs, or you should have bumped shoulders and developed some respect, worked on something, made friends, or something.
There’s just so few spots it’s honestly hard for that reason alone, but the processes are pretty structured and it’s easy to weed out a lot of people. How really to rank the rest? Idk, honestly— it definitely comes down to people pushing for you (I had 1-3 people from my school pushing hard for me, 2 the year above, and 1 who was there for a few years—- 2 the year above me intro’d me to the one a few years older and I talked to them ~1 hour before first interview then jumped to networking with a bunch of their ‘friends’ in same year class throughout my interview process, then that was good enough p much).
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