Fixing the branding problem with a top JD
Would appreciate some constructive feedback on my situation. I'm currently in my mid 30's and I'm looking to break into PE, with a focus on emerging markets.
I just completed my MBA from a reputable state school (a few BB's come to recruit middle office, but no front office), with a 3.89 GPA.
Unfortunately, I keep seeing the same thing over and over again: to get into a reputable PE fund, you need to be from a bulge bracket because nobody wants to train you. Bulge brackets only recruit associates from top 10 MBA or west pointers, megafunds only recruit from BBs, or occasionally take a top 10 MBA straight in.
Personally I know I can do as well if not better than many of those who have these backgrounds. However the branding of a top school is always going to be an issue in this business, it appears to be a very critical attribute. Even if I wanted to start my own fund, more likely than not I'll have to partner with a top 10 graduate to make the clients feel they are getting value.
Getting a second MBA at a top school would be quite wasteful in my view, despite the branding benefits. I have, however, contemplated working somewhere in a middle market PE shop for a few years, then going to a top 10 law school to get a JD. This way I'm gaining a new skill set and diversifying myself further. Personally I think I could do well in law school, I've always had an interest in law and my initial LSAT score was pretty high.
I would imagine after graduating from a reputable law school, along with some industry experience, I would be positioned well to have a chance at a megafund.
Any opinions are appreciated, excluding the sarcasm that some people here take pleasure in throwing around...
how could you possibly know you would outperform without any background? assumptions are the mother of all fuckups.
I'm going to show you how much this "rebranding" will cost you (ball-park).
JD: 3 years, $55,000 a year Forgone work: 3 years, ~$250,000 a year (assuming MM PE?)
That's almost $1M. Getting into KKR is worth a MILLION dollars to you? In your mid-30s? You're insane. Or have way too much money to throw around.
Get over yourself and accept the fact that you are never going to work at a megafund, like 99% of the investment banking population. Shit, if you're going to blow a million, just buy a yacht. You'd have way more fun.
If you can get into a middle market PE shop take that route. Learn all you can, network, partner up and see what happens. I do not think a top 10 school will even consider you for a second MBA, law school is off track and both would be expensive options. A middle market PE shop would be difficult to get into but it is the best option in my opinion.
troll? out of mind?
... dude. By the time you're done with law school, you'd be... 40?
Dude...what the fuck are you talking about? This makes no sense on many different levels.
So wait, hold on. You just went to school and it didn't help you achieve your goals, so now you want to go back to school again? Don't do that. You're too old anyway.
This is not what you want to hear, but PE is in decline. The business model is highly cyclical over long periods of time and is not sustainable with the current number of competitors in the field (too many players with too much capital chasing too few deals and adding too little value). As you may have noticed, a lot of funds have already destroyed capital (including megafunds), and that will continue until the field is weeded out. PE in the US is one of the worst, most competitive places in finance to be these days.
In other words, get a real finance job -- go work for a globally oriented hedge fund.
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