MBA Associate moving into PE

Based on the most helpful WSO content, here are some insights for an MBA Associate looking to move into Private Equity (PE):

1. Transition from IB to PE:

   • Experience: PE firms typically prefer candidates with prior IB or PE experience. Gaining experience in a reputable investment bank can significantly enhance your chances.
   • Networking: Building a strong network within the industry is crucial. Attend industry events, connect with alumni, and leverage LinkedIn to establish relationships with PE professionals.

2. Choosing Between Evercore and Goldman Sachs:

   • Reputation and Opportunities: Both Evercore and Goldman Sachs are highly reputable firms. However, Goldman Sachs might offer a broader range of opportunities due to its larger size and global presence.
   • Sector Focus: Consider the sector focus of each bank. For example, if you are interested in industrials, Goldman Sachs has a strong presence in this sector in New York.

3. Location Considerations:

   • New York vs. Local Offices: While New York is the financial hub with a higher concentration of opportunities, working in a local office like Texas or Chicago can also be advantageous, especially if you aim to stay in that region long-term.
   • Chicago Specifics: Chicago is known for its strong industrials sector and has a more affordable cost of living compared to New York. It also offers a good work-life balance and a supportive professional community.

4. Additional Insights on Chicago:

   • Affordability: Chicago is more affordable than New York, with lower housing costs and a reasonable cost of living.
   • Work-Life Balance: The work culture in Chicago is generally perceived as more relaxed compared to New York, with fewer "type A" personalities.
   • PE Opportunities: There are significant PE opportunities in Chicago, especially in sectors like industrials and FinTech.

In summary, both Evercore and Goldman Sachs are excellent choices for transitioning into PE. While New York offers more opportunities, working in a local office like Chicago can also be beneficial, especially if you prefer a more affordable and balanced lifestyle.

Sources: Why not Chicago over NYC?, Advice/Tips on trying to relocate to a Tier 1 city, Why would anyone willingly choose to live in NYC / SF / CHI?, Is Chicago IB Pay Lower than NYC?, Is Chicago IB Pay Lower than NYC?