How plausible is it to lateral from one megafund as an associate to another MF for post-MBA role?
I feel like the people that firms bring in for post-MBA are so random (could be UMM folks sometimes, etc)
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Not everything is about your “pedigree”: it’s also about your actual competence and fit as assessed through interviews
Competence?? you mean its not all about the firm where you cut excel data for two years? wild news to hear
Is it a true “lateral” where you have a post-associate offer at the current MF but want to switch for some reason? Or getting pushed out? Because it’s usually the latter. Top associate at a “lower tier” firm often > person who couldn’t get the promote at a MF.
If I'm understanding correctly, you're looking at Associate >> MBA >> SA/VP (at a different firm).
Broadly, it's a challenging numbers game. Most large firms only hire a handful (maybe 1-3) VPs each year (at best). If hypothetically, 1 of those slots is occupied by a direct promote and/or someone brought back post-MBA, that leaves even fewer. Then consider that HBS, GSB, and potentially other schools' grads are competing for these spots, all with pedigreed pre-MBA experience.
Said differently, 20+ MBAs (who all completed well-respected pre-MBA associate programs) can be vying for a single MF seat. Ultimately, it comes down to luck, competence, deal experience, culture fit, etc.
I lay out these numbers to explain why many pre-MBAs from MFs end up at UMM/MM/LMM funds post-MBA, because they want to stay in the industry but MF seats are tight, so lots of people trade down in size.
Source: My own MBA class (of those searching for post-MBA PE roles, ~10% went back to pre-MBA firm, ~20% swapped MFs, 40-50% traded down in size, 20-30% gave up and left the industry).
Where did the ones who "gave up" end up going? Were they too picky with PE seats or simply not enough for them even at LMM in their desired geo?
Not enough seats // ran out of time and didn’t want to graduate jobless, mixed with weak deal experience.
They went to a mix of things (big tech, VC, public markets, search funds, start-ups).
Could you say more on what happened to dudes from MM/ LMM pre MBA experience (eg with a rough percent breakdown)? Did they mostly leave the industry or go back to their same fund ?
This is great content btw
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