Need Advice on Options
Background: Target undergrad, currently a 1st year BB IB Associate in Tech Coverage NYC. Total 3 years of experience all in banking (took the A to A a few months ago). Currently deciding between a few options:
1.) ~$1bn PE buyout fund (new fund so no real exits yet to point to, the team does about 3 deals a year) covering the same industry in NYC 2.) Corp Dev / Strategy at one of the FAANG companies 3.) Don't take any of the above offers and keep recruiting
Pay is comparable for both options so not really a consideration. Pros of taking FAANG is the obvious brand / prestige for MBA adcoms but I feel like I would like to test the waters with some investing experience before diving deep into corporate. Would like to understand better the exit ops from each option as well.
Would really appreciate any advice here, been receiving lots of mixed advice so thought I'd turn to WSO which has helped me immensely over the past few years. Would like to get an MBA at some point but understand I'm a bit of a non-traditional candidate. Would like to do UMM PE after MBA.
Would really appreciate any advice here!
I’m not a doer. I’m an advice receiver. Most advice I’ve received has been that if you want to do PE post-MBA, you need to do it pre-MBA. So I moved to PE. So if you want UMM after BS, maybe so should you.
Thanks, that's a fair point. My concern is if the lack of branding at this relatively new PE firm could hinder my chances during MBA recruiting / future opps down the line.
Could you elaborate a little on how you made the move from consulting to PE vs. other options you had on the table? Would be really interested if you could share.
I can’t PM you but did you find that your PE recruiting options became more limited after taking the A to A? Just wondering if there are consequences for spending more than 2 years in banking.
It really depends on your individual situation. As a general rule of thumb most on cycle opportunities would be extremely difficult to crack and you would have to target more off cycle opportunities once you take the A to A.
I'd lean towards option 1 assuming the team is strong and you're actually interested in trying investing. Even as a new fund, it'll probably be easier to transition to corp dev than the other way around. You could also do two years investing and then switch to corp dev for a year or so before applying to MBA programs.
Appreciate the reply! The team is small (only 3-4 senior partners at the moment, a few mid level and a few associates), but has strong pedigree. I'm leaning towards option 1 at this point as well given the better optionality vs. corp dev, but curious if it's worth it to continue recruiting for a MM PE shop with an actual track record vs. a new fund. (I've read through a few posts on this site saying joining a newer fund w/ no brand could hinder recruiting down the line, so trying to be cautious).
Any other insights would be super helpful.
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