Lower-tiered BB placement into UMM PE shop
I am currently a senior at target school in NYC with a strong GPA. This past summer I interned at a bottom BB in their strongest coverage group. The overall reputation of the bank on this forum isn't that great. I am very set on doing PE and my ultimate goal is to get into a UMM PE (being realistic here since my group has never placed anyone into an MF). However, reading other posts I think even placing UMM PE is going to be really tough given how competitive the pool is and the uncertainty with the market next year. I wish to seek some advice: should I try to lateral to a better bank and do on-cycle later or should I try to do on-cycle directly? I am also an international student so that will add another layer of challenge to US PE recruiting. What should I do now to max out my chances or what is the best course of action for me? Any advice is appreciated. Thank you!
If youre ok with 3 years as an analyst then lateraling is the highest probability path
this would be really helpful. I'm trying to understand how painful is 1 extra year in IB
Just say the bank group? Is this a top group at UBS/DB? Would think you have an MF shot from any of those if located in NYC, and certainly a shot at UMM
Yes it is a top group from these two banks in NYC. I tried to search on Linkedin and seems like placements are usually into LMM. Also don't really want to do an extra yr of IB. Not sure what to do here.
The good news is oncycle is so early you can test the waters (probably right after you hit the desk) and then see if you get the offers you are hoping for. If not, can lateral.
IMO, MF is probably possible (but hard) from those banks, UMM definitely possible. You need to be ready to go and not miss any opportunities you get, but it’s definitely possible. Was at a similar tier bank and I landed at a UMM and had interview invites from MFs on cycle.
Don’t let LinkedIn history scare you. Especially at a group level, it can be pretty biased by numbers, so it’s possible people didn’t want MF / some weren’t ready come interviews. Just come in prepared and I think you’ll have a good shot
IMO, as long as you're not set on MFPE and good with UMM - being international will be a far bigger hurdle to getting interviews than your bank if you're in their top group
UBS/DB place to UMM pretty frequently. If you strike out in oncycle, you have plenty of time to lateral
Is being an international really that much of a hurdle?
Big hurdle. Worse than IB
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