MM IB (non-tech group) with HSW 2+2 — direct tech PE/growth recruiting vs. going straight to MBA?
Incoming analyst at a WB-tiered MM bank in a non-tech group. Have a 2+2 deferral at an HSW program but want to end up in tech PE or growth equity.
At a crossroads since I'm not in tech but want to go into the tech investing space.
Trying to figure out the optimal path:
Option A: Recruit directly for tech PE/growth out of banking, use MBA after 2 years Ib 2 years PE.
Option B: Go straight to HSW after 2 years, recruit for tech PE/ growth equity from there.
Main questions:
- How hard is it to break into tech PE/growth from a non-tech MM group on-cycle? Is it a non-starter or just harder?
- For those who went the MBA route into growth equity — how disadvantaged were you vs. candidates with pre-MBA buyside experience?
- Anyone made this pivot successfully from a similar background? What actually worked?
Happy to hear from people on either side of it. Not looking for validation, just real data points.
(Ignore title) Others can correct me but I think there’s a general sentiment that PE pre-MBA makes recruiting for PE post-MBA much, much easier. I don’t think it’s a total no-go if you hadn’t done PE prior to business school, but traditional 2+2 will make landing an offer much more likely, especially in this market. I don’t know these dynamics for growth/earlier stage investing.
There may be more hinging on a good “Why Tech?” answer than if you came from a TMT group and you’ll need to self-study topics like GRR/NRR, ARR, etc, but I’ve seen other people make the jump from groups like HC and Industrials. Helps to get on any deals/projects with some tech overlap, if possible.
Just out of curiosity, what’s driving your interest especially from a non-tech group? Tech PE is staring down the barrel right now between AI and the consequences of overpaying during ZIRP. I’m not an “any and all Tech PE is cooked forever” doomer, but definitely it’s challenging to bet on what funds will be winners amongst what’ll likely be a good amount of losers (at least for a few years).
Thanks! I’m in a consumer/business services esque role so less overlap for sure. But my interest in tech is unique. Basically ran my own process to buy and sell a tech company in the lower middle market during college.
Do you have any suggestions for other sectors that would be good to target given my circumstance?
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