Next week will mark the end of my second year at a small boutique bank; since I started the goal has been to jump to PE around this time. I have been looking for PE positions for most of 2013 and have come up dry. I am assuming most of this is attributed to the fact that I a) didn't go through a structured program b) don’t have a name brand on my resume (more so b than a in my opinion). I believe I have pretty solid experience and worked with some really smart people. All but one of the 15 partners here have run one or multiple groups at BB shops and they seem to know anyone who is anyone.
I am starting to consider asking the Partner who has been my mentor about helping me procure a job on the buy-side but am terrified to ask because I am not trying to get fired. 3 of the last 4 guys who had my position either left to get their MBA or for other positions (which as far as I know they got on their own) right around this time; the 4th has been here for 7 years and is currently the VP. It's not like it would be unheard of for me to jump ship but since it is not a structured program, where after 2 or 3 years they expect you to leave, I am worried about the downside.
At this point my best idea is to start the conversation about getting my MBA in the next 2 years and transitioning it to I would like some PE experience before I start applying.
Thoughts on how to approach this or should I keep trying other routes?
Wow I'm actually in the same boat - my VP was actually surprisingly very supportive, and even offered to pass on positions he heard about from his friends.
In the end it all depends on your relationship with your mentor/boss. If he likes you, he'll help; I know people here say to keep things confidential, but if you're smart about what you say and mention your career goals it's hard for them not to help you. Plus he's your mentor, so if you can't talk about these things with him then he's not really a mentor at all.
Just my two cents, but good luck - plus you're at your two-year mark, so definitely a good point.
One last thing - you might want to start after bonus season since it might be affected if they know your plans.
If you can, I would suggest reaching out to the 3 guys before you who left. Ask them how they observed the Partner's reaction to them leaving and whether they ever approached senior management for help on moving to the buyside.
Nice opportunity to network as well as getting a base line reading of how you should/should not approach the Partner.
If you've got the money, go get your MBA-although it is late to apply now at schools w/ only Fall cohorts.
^Don't go get your MBA (yet). In general, 2 years in banking is not enough to get you into most top programs for the most part. Additionally, it will not help much (if at all) in getting to PE - the question that PE firms will ask when evaluating candidates is "Who has done PE before?", and there will be many, many people at good MBA programs coming from the buy side.
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