Do you really need to do banking before PE??
If you can get a job in PE immediately out of undergrad, and you already have solid modeling skills from a banking / research internship, does it really matter? what are you giving up by going straight to the buy-side?
So if you already have strong modeling skills, you can be okay going to PE directly out of undergrad. So assuming technical-skills isn't an issue, you miss out on having an analyst class. Most PE firms will have only a small handful of analysts joining in one class, which makes having a network more difficult.
but if i'm coming from a top target, which i am, and i've been very social, i have a few hundred friends / acquaintances who are going into banking / s&t / consulting / pe...do those connections (beyond your core group of friends) completely dissipate once everyone is in the working world?
i also have family members and connections in senior roles throughout the industry, so i'm definitely not starting as an outsider with no network.
that said, i do appreciate the added benefit of a BB analyst class. what is the size of those classes at JPM, GS, MS?
That is like asking if you need to kiss a girl before you seal the deal. Technically, no, but 95% of the time, yes.
But if you can seal the deal, is it recommended?
more specific for me, to start in GS PIA or GS IBD? I reliase that the analyst class in GS PIA is very small (2 to 3). hence not a big network. Also deal flow wise, PIA would probly only close one or two deals per year (need to confirm this). But the PIA from what I have heard is more prestigious than GS IBD....
please advise
PIA certainly if IBD is generalist.
Even if you can get TMT, would probably do PIA.
At MS when I joined we had a class of 78. I would say do the traditional route IBD>PE. It gives you the raw technical skills that you need...
At GS, any one know how much contact there is between PIA and IBD? I presume since the training is the same, you should still have lots of friends from IBD even working in PIA
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