PE intern to IB
Been a PE intern for the last year and will be continuing the position through undergrad. The firm I work for will not hire out of college and said I need to get formal IB experience before getting an offer. I was wondering if anyone had any advice on how to make the jump from PE intern to IB analyst. I know I am at a disadvantage not getting a summer internship with a bank but I am willing to grind to make the situation work. I have already started networking and have a decent amount of connections I would say. I am not necessarily trying to go BB but would like to make it into a good shop. Any advice would be helpful.
This is why I reneged my PE offer to IB. They didn’t hire straight out of undergrad and required 2 years of IB experience to come on as an Aso1. There was no guarantee that I would secure an IB internship or IB job so I didn’t want to risk it.
Nevertheless, a PE internship Is still great work experience and will set you up for an IB role. Don’t feel discouraged, as long as you prep for technicals and behaviorals, network and have a solid resume you have a great shot at IB.
Use your team during your PE gig to help you land an internship. I’m sure they can hook you up with a first round.
Thank you for the advice I appreciate it! One question I have is how would I answer the question along the lines of "Since you are a PE intern you obviously are interested in that industry. How do we know you aren't just trying to come here and get the modeling/banking experience and then jump ship in 2 years" Do I simply just say I won't do that lol.
No one will ever ask you that question lol. Turnover rate for most Analyst2 classes are of 75% - 80% that means that only around 1/5th of the analyst class stays on for Associate.
Most banks expect you to leave after 2 - 3 years.
Second, even if they did ask you that question, I can’t and won’t answer it for you since it’s a subjective question and they’re looking for authenticity.
Why recruit for a bank that expects you to stay on for the long run when you’re only planning to stay on for 2 years?
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