Asking for a friend
Quite literally, one of my friends asked me and I didn’t have an answer. So I’m asking my fellow monkeys.
He got an internship with a known PE firm. Not really sure how he got this because he is major non target + has no IB exp or really any finance knowledge at all.
Anyways, good for him that he go the internship. Very happy for him. However, his internship ended after 8 weeks. He also was told to go work in IB before coming back.
Can someone give me a translation so I can tell him what this really means. I’m in ER, so this isn’t really my area.
What is the question here? It sounds like you know what he was told. They want him to get banking experience and then come back to work for them. So he should focus on finding an IB role moving forward.
Oh my apologies. He wanted to know if this was a nice way of not getting a return offer or not?
Just sounds like "Hey, you're not ready for PE yet. Try again after IB." Seems like he just doesn't have a solid background yet to jump straight in
My fund does this for all summer interns. We have them intern as sophomores and expect them to land top BB/EB internships given the fund's brand name. After completing two years as analysts, preferably in a top group, they are invited back to interview as "priority candidates" for associate seats. I've heard of a few other funds doing this too.
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