Advent vs Berkshire
Am in consulting and looking at these two firms as my top choices - wondering if anyone has any color on whether one is a better choice than the other/rationale for picking one (whether WLB, comp, upward potential, etc). Thanks!
Bump
Both great. Both known to pay well. Think advent has been on explosive trajectory, is bigger, and doing really well. Berkshire is also a great brand with marginally better b school placement supposedly (but you’d be fine here at either), rumored to have some slippage in returns but still a good brand. You should look up the returns for both and see if that’s just BS or not. People there seem to like the culture. I’ve really liked the people I met there.
Bump interested + would throw in New Mountain to the mix
Maybe controversial but would probably take Berkshire. B-school exits are as good as anywhere (Advent is good here but not as good). Comp will be comparable, both very strong.
Big decider for me would be culture. Look at Berkshire senior team- basically all started as associates and retention is incredible. Advent on the other hand is (so I’ve heard) harder to progress upwards and retention is worse. Advent is also very sweaty, Berkshire still sweaty but moderately better. Berkshire people also rave about their culture.
Only counter-argument would be returns/trajectory. Advent has raised massive funds and Berkshire has stayed smaller, Berkshire returns have lagged a bit as well. Personally think this doesn’t particularly matter as an associate (really becomes a concern once you’re on partner track). Have heard Berkshire has done some introspection and more recent things are looking better (they’ve had some monster exits recently) so wouldn’t be super concerned about this.
Would absolutely take either offer in a heartbeat though, two of the absolute best PE firms, especially non-NYC
Source: interviewed at both, have friends joining both.
Any knowledge on exits from either (if any difference)? Also, WLB/hours at the two shops?
Coming from someone at a MF:
Go with Advent. It’s a great shop and you’ll have more optionality down the line.
We’ve interviewed MBA candidates with pre-MBA experience at both firms. You’ll be better positioned coming from Advent versus Berkshire
Just curious what the reasoning is here - just off fund size / brand?
Both solid. Great problem to have. I'm biased towards Advent early on. Have seen solid people churn out (so clearly upward trajectory is tough despite performance), but you'll be well-placed to interview at any sponsor. Have heard carry structure is attractive (nice downside protection + upside on individual deals)
I have friends at both, and I'd choose Berkshire based on what they've told me.
Work with the Berkshire team often. Great group of guys
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