Best summer option for breaking into Private Equity post-MBA
Hi All -
Hoping for some advice on how to spend my summer to best position myself to break into PE. My basic profile is Ivy League undergrad, post-ugrad experience in management consulting, and currently MBA student at a top business school (H/S/W).
Goal is to break into PE after my MBA (immediately or a few years down the line, if necessary). Looking for your advice on what would be the best way to spend my summer (and beyond, as applicable) to make this happen:
- Accept summer offer at a top BB investment bank (GS/MS/JPM)
- Accept summer offer at private equity arm of IM firm that does fund-of-funds investing and some co-investments (not traditional direct investing model). Role may or may not include direct deal exposure (TBD)
- Decline both offers and hope that I can land a summer offer at a PE firm (risky move given how difficult it is to land a PE job without prior PE/IB experience)
Could really benefit from the group's advice. Thanks in advance for your help!
id go with option 1
Option 1 seems strongest.
One of the caveats of coming from a MC background as opposed to IB is that you might not be as strong on the technical / modelling side of things; you'd remove any doubt by interning at a BB.
As for fund-of-funds, the experience will be quite specialized and different from direct PE investing (in my opinion). You might therefore not be readily able to transfer most of the skills you've learned.
Go do IB for a summer. Most importantly, you'll demonstrate your commitment to building your technical / modeling skills, giving you a good story to talk about in PE interviews next fall. Second, it will position you well for full-time recruiting in virtually any industry or role, should the PE thing not work out. Good luck!
1 or 3. Do not do 2.
Do not do #2. You might have to roll with #1 although you're at a huge disadvantage to MBA students that already have PE experience.
I have your identical background and did option 3. I’m in PE now. PM me.
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