lucked into PE, What now?
Hey folks, rising sophomore at a semi target (think IU, Umich) I lucked into a SA offer for 28' at a MM PE firm in the city I'd like to live postgrad.
This was almost entirely through luck/connections as I pretty much only planned on recruiting for IB (decent applicant but nothing too impressive, felt I was underqualified for PE).
With that being said, what do I do now? I was expecting to be recruiting for this cycle for at least 6-9 more months. Is it worth trying to get into IB still and will going directly to PE rather than doing a 2-year analyst stint limit optionality if I decide to lateral?
Following kind of same as but just having an Intro call with UMM PE firm.
Sounds like you get to cruise for 3 years 😎🥂
What 2028 processes have even thought about opening yet? Last year, the earliest interviews were the soph-jr funds in sept-nov. Non-diversity junior programs didn’t start until mid-late January.
I may already be unc 6 months after recruiting, but I don’t think timelines are nearly this early. That said, if you’re not bullshitting huge congratulations and live it up.
My family is close friends with the founder of the firm. I had an "interview" with him and then went out with the team I'd be working with and then was offered. Pretty much all nepotism, not traditional recruiting.
Classic
We’re giving rising sophomores junior summer internships. What’s the world come to?
Are we talking MM PE, or LMM PE? Either way you should just get through your PE internship first before you decide. With (L)MM PE, especially in T2/T3 cities which I assume is what you are talking about, there's no telling how much you'll be learning as a fresh Analyst.
Maybe you'll be learning a ton working directly with some very smart and experienced senior guys. Maybe you'll be learning nothing because they are investing in one or two random industrial services companies a year, in which case you could benefit more from the structured approach and guaranteed experience of a BB/EB Analyst program.
LMM in a T1, successful in a couple of niches. This would be a junior year internship, would that keep me competitive if I did end up having a poor experience and wanting to recruit for FT BB/EB? Thanks for your perspective.
Incoming intern so take this with a grain of salt, but this is what I've been told:
It will be difficult for banks to justify hiring you if you've already been on the "FT PE track", unless you have a damn good reason for wanting to do IB. I'm not talking about PE analyst -> IB associate or above, just the junior internships -> FT. If you've expressed enough interest in PE to pursue a junior internship, banks will likely assume you just want their brand name to recruit on cycle up market (LMM -> MM/UMM/MF), because it's easier to pivot up market from IB than move up market all within PE.
That said, if you have strong enough connections to get this internship, you will be able to find a job in IB, regardless of if they think you'll be 2 and out.
Also keep in mind that it might just be doing a favor to your family with no intention of hiring you full-time.
Do they even have an analyst program? Do they have a history of hiring analyst from their interns?
LMM PE can be an amazing experience with lots of career growth or it can be a dead end waste of time that leads no where.
I would personally still be recruiting for IB FT and then trying to get into a more reputable fund during normal on cycle recruiting.
Congrats on IU
Nice humble brag lol. I enjoy a solid posts that riles up all the kids with loser parents.
Does this firm routinely give return offers? I’d check that out before determining next steps.
congrats on IU
Non voluptatem veniam debitis. Laboriosam aut similique occaecati voluptate id modi culpa. Quasi eum sint distinctio et ipsum facere molestias cum. Nam et laudantium dicta et dolor voluptate.
Et voluptas nam tenetur dolorem magnam. Sint atque voluptatem dolore sed facilis voluptates aut vel. Animi assumenda dolores quibusdam eum inventore dolore. Corrupti assumenda perspiciatis repellat id dolor explicabo ullam itaque. Culpa earum cupiditate quo et ratione.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...