MBA PE Full-time Recruiting?
Finishing up my MBA from HBS this summer. Was not originally planning to go back to PE, but decided that I would like to pursue a UMM / MF PE route. Are firms still recruiting or am I out too late to secure any good roles?
Started to reach out to headhunters but it seems like the market is pretty dead and that many of the classes have been filled with returning summer interns and MBAs. I don't want to go back to my previous fund for various reasons.
Based on the most helpful WSO content, it's not uncommon for UMM (Upper Middle Market) and MF (Mega Fund) private equity firms to have largely filled their classes by the time summer approaches, especially with candidates who have interned with them or are returning from MBA programs. However, this doesn't mean all opportunities are closed. Here are some strategies you might consider:
Expand Your Network: Continue reaching out to headhunters, but also tap into your alumni network from HBS. The strong alumni connections can provide leads and introductions that are not visible on the open market.
Leverage the HBS Alumni Network: As noted in the WSO discussions, HBS alumni have access to a proprietary app that includes a map and contact information for all HBS alumni. This network is known for its high degree of reciprocity, so reaching out directly to alumni in PE could yield opportunities.
Consider Smaller Funds or Different Geographies: While the most prominent funds might have completed their recruiting, smaller or emerging funds, as well as funds in less competitive markets, might still have openings.
Look for Off-Cycle Opportunities: Some funds do hire off-cycle, especially if they suddenly find themselves in need of additional manpower due to new deals or expansions.
Prepare Rigorously for Interviews: Make sure you are well-prepared for interviews. Utilize resources like the WSO Private Equity Interview Prep to refine your interviewing skills and technical knowledge.
Stay Flexible and Persistent: The PE recruiting landscape can change rapidly. Stay informed, be flexible about roles and locations, and maintain persistent communication with your network and headhunters.
Remember, while the market might seem challenging, your background and the resources available through HBS provide a strong foundation to secure a role in PE. Keep exploring all possible avenues and stay proactive in your search.
Sources: Which PE firms still require an MBA?, How are Booth, Kellogg, and Columbia for Post-MBA PE?, https://www.wallstreetoasis.com/forum/private-equity/wharton-vs-stanford-gsb-for-private-equity-recruiting?customgpt=1, Recruiting from UMM/MM PE Associate —> HF Analyst?, What PE firms hire straight out of undergrad ?
Following.
Would be great to know if PE recruiting is exclusively for PE professionals at the MBA.
Thoughts on:
IB -> Fin Asso for PE Portco. -> MBA -> PE
(Feasibility)?
Depends on the school and background, prior firms I was at would not really look at people without prior investing experience for post mba VP roles even from HSW. These firms are solid MM shops in tier 2 cities. Finance associate is a broad term, could be an accounting associate if you did deal sourcing and execution like corporate development and ran transactions there may be transferable skills but the market is very tough right now for PE hiring.
Agree, very low odds path. Why not just go the well-trodden route of IB >> PE?
If you do get an offer post-MBA there is also a good chance that your offer would be for a step below what an MBA would be hired at given you wouldn't have done PE investing prior. So if a firm hires post-MBAs into senior associate seats, you may get an associate offer.
This is assuming that you get an offer which will be an uphill battle.
I actually did this, and I assure you, still an uphill battle (given associate recruiting is obviously 1-2 years in advance, so you're stuck with only ad hoc openings and general discomfort with non-traditional profiles).
(Not OP)
Assuming you start recruiting right when you start your MBA, the 1-2 year timeline wouldn’t be a problem though, right?
Understand that the non traditional profile would be a deterrent. What was your profile pre MBA?
That can work, but it's just generally unusual to have not done PE pre-MBA but (i) immediately know that you want PE that early in the MBA program, (ii) have a compelling profile that will place (MBB, IB), and (iii) want PE enough but somehow opted not to recruit directly to PE from those programs (which would've been way easier).
PE firms are also taking a fairly big risk extending the offer that early, knowing that MBAs might be more fickle and decide to return to their internship spot, change their mind later in the program, etc.
I was MBB >> MBA >> PE Associate.
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