Hey everyone, first time poster here!
As PE Recruiting for Summer 2023 starts soon (allegedly), I was hoping to get some advice on how best to position myself for a MF PE role focused on tech.
I graduated in May 2020 and had my fulltime MM IB offer rescinded due to COVID budget cuts and had to settle for a Corporate Development roll at a Fortune 500 company (sounds good on paper but the role was super diligence focused and I never really got exposure to deals). After ~6 months of that, I was fortunately able to secure a MM IB role, which I then used to move to GS/MS/JPM Tech Coverage on the West Coast. I have been at GS/MS for about a month now. See below for an alternate view of my career so far:
May 2020: Graduated as a Data Science Major
Aug 2020 - March 2021: Corp Dev at F500
April - May 2021: Took time off due to family emergency
June 2021 - December 2021: MM IB (Business Services coverage)
December 2021: GS/MS/JPM Tech group
In summary, I have had 3 roles since graduating and am looking to recruit for a tech-focused MF PE.
Do you all think that I should spend another year in banking to overcome the perception of me being a job hopper (meaning that I recruit for Summer 2024 PE associate roles)? Or could I successfully recruit for a Summer 2023 start even with my background?
Thanks everyone and happy new year!
My .02 is that the safer option is probably wait a year but then again you're getting up in age if you do that and willingness to eat shit 24/7 for a living (read: be a MF PE Associate) will be diminished. And honestly you have a pretty compelling story that screams "this guy is scrappy" so if you tell it well, sure why not, I'm sure you could successfully recruit for a Summer 2023 start even with your background if you play your cards right, and if you don't, there's always next year. You could also try Vista Analyst program for an immediate start, they love super scrappy guys with non-traditional backgrounds that are hell bent on tech MF PE.
Gotcha I appreciate that! Do you think that if I am not successful this year it would impact my odds of next year's application cycle?
Go all in on 2023 recruiting, your story is pretty solid and I think you have a very good excuse for job hopping. There was another post on here earlier this week with a true job hopper and I basically told him to get lost, but you are in a different situation and every move made sense. If you interned at the MM IB, make sure to put you got a FT offer but it was rescinded due to COVID - scrapping together F500 corp dev in ~2 months and ending up at a top tech group is super impressive. Try to be as sincere about this as possible and emphasize that you had to pivot a lot to make it back to IB, but are looking for somewhere long term for your next role (obviously change this if they don't promote without MBA/are strictly 2 years and out)
Do you feel ready for recruiting in terms of deal experience? That would be my only concern given short tenures. Second, MF PE is SUCH a crapshoot even for H/W/S types that with such a nontraditional background you really should be open to UMM, and probably MM too. Either way, if you can tell the story as well as you did on here you will be just fine.
I appreciate the kind words! I closed 2 deals while working at the MM IB, but do you think that it would be better to have more deal experience in my current role? Like wouldn't a tech MF PE really want to see some tech deals on my resume?
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