Non-target to MMPE, What's Next?
Graduated from a non-target mid-west state school 2 years, Just finished my 2-year MMIB analyst stint and about to start my MMPE job in NYC soon. Everything seems like a cliche and non surprising. Lurking on WSO since sophomore year and coming from non-target and non-URM, I knew my chance at top BB and EB is minimal. Did mediocre networking in undergraduate and have talked with ~1000 people since then.
75% of the convos were monotonous, where I tried to impress them and show I am different than other non-target guys. 10% time the convos were very good, primarily because they were having a good day. Seem likes everyone in MM has similar stories and grinding. Fortunate enough it was a good time for banks to expand and I accepted MM offer knowing a very small portion made it to UMM and my destination is MMPE in NYC.
The post is actually not about I am tired of grinding, rather how can I jump out of the chain? I have rarely seen people talk about what's the destined path after 2 years in MMPE? It would be good if I move to the principle path since I don't want to burnout and settle. At the same time, I want to aim higher and see where can I end up with. Nothing wrong with MM, but I would like to close more high-profile deals. Is my chance at UMM or MF diminished?
Sorry about the rant and thank you for any inputs
The next logical step would be business school followed by more PE. Like me, you can use business school as a way to rebrand your academic experience given you didn’t go to a top university for undergrad. After this, the ball is in your court to secure a post-MBA role at a larger fund as this appears to be what you’re after. Not really sure what to say other than that. You’re pretty much on as close to the defined path as you can possibly be as the IB —> PE —> MBA —> PE route is about as cookie cutter as it gets.
I'm guessing the OP is asking because going from MM PE to UMM/MF PE is generally really hard and his undergrad probably wouldn't help much in that regard either. OP is competing with top candidates who did UMM/MF PE pre MBA, and want to continue on that path post MBA, and who most likely had BB/EB experience and a top undergrad.
Thank you for the good insights and below is just what I worry about. Competing with MBB 2+2 at HSW or EB- -> MF for a VP position has always been a blood bath. I've seen many large-cap fund alumni failed at it. I guess it's worth a try if MBA isn't so damn expensive, the reason I went to state school was due to its full-ride. Since my fund offers direct promotions, I was thinking the alternatives besides MBA.
I understand the objective, just not entirely sure what feedback you’re looking for in terms of better positioning yourself for UMM/MF roles. You’re already done with IB and your PE gig is locked in. You cant change your undergraduate nor your undergraduate grades. I didn’t want to offer up the obvious advice of (1) score as high as you can on your GMAT, (2) attend the best MBA possible, and (3) network. You’re in a very strong position relative to many others with the same objective, but you’re also far enough along that there are a limited number of variables that you can change. You certainly can’t change the competition.
At the risk of stating the obvious, I think the best path forward is to do steps 1-3 above and prepare for interviews like mad.
Just curious, can you provide more detail on your current role? I'm an incoming analyst at a MMIB and was wondering how the recruiting process was for MMPE, and how is comp at the MMPE role? thx
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