Is it worth it to skip the sell-side experience?
Hi, I received multiple offers, and it would be really helpful to get some advice on which one to take. One is an off cycle internship at a mm private equity firm. My other offer is from the sell side, which is an analyst role from a BB in their m&a division, and this will be full-time. Taking my offer from the BB would be a safer bet, given that it's full-time, but my ultimate career goal is to land in a buy-side role. I am unsure about skipping the sell-side experience and jumping straight into the investment side, as this isn't very conventional. Any thoughts on what would be a better choice?
Would need someone to confirm this but I was lead to believe that private capital advisory roles tend to lead to ir or FoF roles long term. Or at least that’s the conclusion I came to when I was researching for an interview. The other one gets your foot into a pe firm and there’s already a precedence that am roles can help you pivot into buyside roles.
If you want to be in a buyside role and you have the chance to do that now then probably would make sense to go do that. Nothing is guaranteed in finance or in life in general. Either way good luck and best wishes :)
Is one SA and one FT? If so, are you graduating early, taking on a masters etc? That is also something to consider. I wouldn't delay grad and spend more $ on a masters for the first role unless it's your dream job/firm.
On equal footing, I'd take the secondaries role but arguments can be made for both. Private capital advisory is not a traditional M&A group and buyside exits are a bit limited because of the scope of the work.
How hard is it to go PCA first year then lateral to IB M&A or coverage group for second year? Thanks!
yes
I would really not recommend doing SA and a gap year. You are setting yourself up for potential problems down the line, not a good idea when you have a perfectly good FT offer already.
Most firms do not allow you to do an SA and gap year, you have to do a masters or delay your undergrad program. The FT program has specific grad dates to be eligible, you have to have graduated between December and June before you start - so currently you won't be eligible. If you really don't want to do a masters, extend grad until december and just take the spring gap semester.
That aside, if you do the SA and don't get an offer you are totally screwed having already graduated and not having a job
Recommend sell-side if you want to do direct PE
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