Titel of course polemic. I'm a MBB consultant and since last year I've been prepping to transition to PE (on/off). Had some good interviews and bad interviews but ultimately no offer yet.
Since it is the new year, I am reflecting a bit where I want to go and what person I want to become in general. I have made a lot of outreaches to friends of mine who work at large-cap funds over the break and realized that none of them likes being there. They are all looking to get out and by the looks hate their life. One told me it is just like working in a bank and he would not advise to make the move.
This made me realize that I haven't met a single junior to mid-level person who has somewhat of a decent life working at one of those funds.
Does this mirror your experience in the market? Are there any "cool" seats that are somewhat sustainable? I am getting more and more pessimistic about making the move but it could also be because of the current business cycle.
If you’re from MBB, the number of large cap funds is extremely small. Maybe 5. I would get an offer first before worrying about this. It’s hard to overstate how difficult it is.
He’s looking for a reason not to prep (if WLB is as bad as it seems which it likely is comparatively to MBB, then he can rationalize not prepping hard bc he won’t be happy there if he gets it).
bain cap
Depends on the group, for sure
buddy at carlyle chills hard (post MBA)
What group?
This has to be a joke, I had 2 banking classmates work at Carlyle and it was by far the most hellish PE experience of anyone I knew.
No
Take into consideration that folks embellish their hours as it is perversely seen as a symbol of pride for some twisted reason. That being said, when it’s a live deal, you can certainly expect consecutive weeks of workdays past 2AM and weekends. Having worked at both mid market and large cap funds, my experience is that it can get much more sweaty in the large cap space.
It is the opposite in PE, it is better to brag about how few hours you worked as a status symbol. Mega fund PE is just soul crushing
If you’re in a slow PE group that is exiting people, life will be hell. Everyone will be cut throat and there is 0 flex on your personal life
I’ve met people who say they’re happy there, but they also answer emails at 1am on vacation 😅
If that’s happiness, I guess my bar is different.
Me
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