Goldman PIA
Hey guys,
I'm heading to bschool in the fall, and spent the last two years in mgt level role at a healthcare start-up that eventually became a GS PIA portfolio company. I did quite a bit of work with the group (though not directly, mainly with our CEO/COO who worked directly with PIA) on closing the funding round / developing our financial statements / turning around business units so we met and exceeded PIA's goals for our company.
Now, that I'm heading to bschool, I'd like to jump the table and join the PIA group. I'm arranging for an informational interview with the MD from the group, whom I've met several times, and was wondering whether it's really realistic for me to even be considered by this group as a potential hire post MBA w/out having had any previous banking experience. I heard these guys hire based off fit, but I'd assume their hires have had banking/finance experience. OR, should I just focus on banking for now, and then consider this group.
Thanks a ton for your help!
i think it'd be unlikely, but who knows, its worth a shot. are you at least going to a top MBA program? H/S?
CBS.
alternatively, look into regular PE firms (not bank holdco owned) operational groups...while you're not ex MBB they should (if they GET IT) listen to your story of actually working @ a portco
Probably pretty unlikely, though perhaps not impossible. I think most people in PIA were previously bankers, and most of them previously bankers at Goldman.
Perhaps this MD who you're meeting with will give you a better feel for your chances... my guess would be that he'll recommend you do 2-3 years as an associate in IBD and then try to move into PE / Buyside work... but I could be wrong.
To be honest, that's exactly what I figured as well. Heading to CBS, I'd like to think my chances of getting a decent IBD offer are strong, but we'll see!
Does the MD have a good feeling about you? If the portfolio company did really well then I think you have a decent shot at it. Make sure you know the banking stuff cold. But no reason to think it's impossible and if anything, I'd say you have a better chance than the run-of-the-mill banker.
Thank you for your post. To answer your question, we've done extremely well, and the MD does know alot about me, because a. we have a very small management team and b. not to sound or be boastful, I restructured two major business units and turned them around from negative margins to double digit positive margins. So, the guys at GS PIA are aware of who I am besides just meeting with them, but I can only be hopeful that it helps. And, the MD is good friends with one of the cofounders of our firm, whom I have taken on as a mentor.
yeah except the thing is your operational skills will be worthless in the context of PIA
Instead, I would try to spin your financial experience as heavily as possible
Agree with Solidarity. PIA is one of the least operationally-focused PE shops around (often they're asked to tag along in consortiums only due to their financing capability).
It's true that fit is very important in recruiting for PIA, but so is finance experience.
You should continue pursuing PIA to see where this connection leads you, but I would also look around at other PE firms as well. Your options are not limited to PIA and banking.
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