Getting a job in PE or IB
I am currently an audit associate at PwC in NYC, and I am trying to break into PE or IB. I know that it is possible because I have heard of people doing this. I have only been working for 9 months at PwC, and I would gladly take a position as a first year analyst, even though most are straight out of undergrad. Could anyone give me advice, or if you have any contacts or leads please send me a PM. Thanks, I would appreciate it.
Lol so many people "know people" who've done what they want to do. First, start by actually contacting the people that you know, and seeing how they did it. If I'm correct, unlike advisory or transactions services, audit is straight accounting, so no valuation/modeling. PE is going to be close to, if not impossible. Try to lateral into a BB or boutique - there are plenty in NYC. Talk to friends at banks to see if there are lateral openings. You'll need to work on your "why investment banking" answer, as most of your competition for lateral positions will be people with IB experience or more related experience. What industries do you cover in audit? You will probably do better if you try to head into coverage banking in an industry with which you are familiar.
Why don't you try to transfer into PwC advisory then lateral to a bank after a year?
So audit's really interesting huh?
Karypto, leave the man alone. dude, the best play here is to transfer into Advisory (Strategy Consulting/ Transaction Services) and do a year or so (there's a ton of modeling/ valuation/ due diligence type engagements there - trust me, my most recent gig was at PwC TS) then lateral into BB. From there it becomes possible to move into PE.
I'm in the a similar situation, but lack corporate experience, having come from small prop shops in Chicago. I was just out in NY looking to bump into the right people, but that's going to take more than 1 day at Ulysses to accomplish!
All the advice I've been getting has been go where your experience is credible, and work up from there. Also, pick up the phone and start calling switchboards and asking for MDs - having the name probably helps.
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