Interested in hearing about some of the pros and cons of going into IB for junior summer vs a MF PC summer role. Interested in being on the buy-side/ investing in the longer term. Would be interested in learning about pay trajectory/exit opps in the industry
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If you want buyout PE you should 100% go into IB. MF PC is a great spot but it's a different skillset than buyout and does not traditionally feed into those roles unless you significantly downgrade funds (like MF to LMM)
MF PC have more similar skill sets than doing M&A, both are investing roles. You are working on the exact same deals as PE, and the analysis is very similar although from a credit lens. After two years you become 10 times more prepared to continue in a buy-side role. The type of DD and work you do is very similar.
In Europe at least, HH is indifferent between MF PC and top 3 BB, have friends who went to MF PE after two years of MF Credit.
OP should consider which IB it is, since he/she didn't specify I imagine its non-BB? Likewise, the type of MF PC also matters but you can never go wrong with MF PC imo.
Europe is a very different recruiting landscape... In the US it's a bit difficult to get from MF PC to regular PE and most people have to downgrade funds. It happens, but at around a 1 to 10 ratio of IB (even per capita). LinkedIn doesn't lie - it's a great career/group but it's simply not a common move to land MF PE out of it. Places are just not going to branch out and take someone from a way different group when they've had success with GS IB for the last 10 years.
My post assumes it's top BB/EB as if you can land a MF internship you can easily get a top IB position. Obviously MM IB MF PC but that's not the usual decision.
How viable/possible would you say it is to land BB/EB FT after a summer in MF PC?
Absolutely possible and I think you're basically on equal footing with kids from other BB/EB, but BB/EB FT spots are very limited, so that's always a gamble
To be clear, if you're leaning towards PC - MF PC is a great career with better hours than IB/PE, pays well, and interesting work. I would tell a lot of people to take that offer over BB/EB. It's just if you are saying "my goal is MF buyout PE" that is best achieved from IB and you don't get an edge for already being at a MF as some might think. But if you just want to work in investing, kind of indifferent on where that is and the PC jobs sounds interesting, I wouldn't count it out
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