Don't Want to do PE anymore after Banking
Hey everyone - wanted to get your advice. I'm currently a 1st year analyst at a BB (GS, MS) with a MF PE offer lined up. I was super excited about the opportunity at the time but I've had a pretty bad experience in banking, stemming from the nature of the work (don't really find modeling interesting, don't like sitting in front of excel all day). I've always been interested in entrepreneurship and have had some relatively successful projects in the past but at the end of the day I want to take on a role that gives me both exposure to different industries and ideas while also giving me some time to think about it. If PE is great for entrepreneurship, I'll stick it out. But have others been in a similar position? What did you do? Consulting? Corp Dev?
You might like pe, just do it for a year and see if you like it. You have a good seat lined up
I'd agree with this.
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Startup finance/business development/strategy roles
Happy to chat with you about consulting if helpful - feel free to PM. I switched from an EB to MBB and have been very happy with the switch
Is MBB looking to hire entry level laterals right now?
Yeah not hiring right now, but I know my MBB is leaning more into lateral hiring for recruiting needs generally. Probably wouldn’t resume until economic expectations rebound
Read up on Entrepreneurship Through Acquisition (ETA). Seems like it might be up your alley. Booth and Stanford have good free materials
If he wants ETA the PE experience will be vital.
What ab GE/VC? Seems like that may be more relevant since it is operating in the nascent company space vs established international megacorps
Keep in mind, entrepreneurship doesn't have to be the whole 'creating a revolutionary new idea/product/service that is infinitely scalable.' You can still make more than one would in IB by smaller entrepreneurship projects. For example, I met somebody who started a company in the farming industry, and he is insanely successful. He just found his niche and went all in on it.
That's sick - it's just hard to come up with good ideas right now when I'm working like 9-12am consistently. Would love to learn more about diff. industries and problems but not sure what the best way to do that is
Might not be what you want to hear but I’d stick it out in PE for 1-2 years. The experience is very, very useful and it offers an extra layer of branding to your resume on top of your BB. Plus after 1-2 ASO bonuses you’ll have a much stronger savings safety net to pursue your own passions.
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