Path to PE closed?
Hi all. I'm a college senior at a target who did an internship this past summer at a large but lesser-known firm. Did not receive a return offer due to headcount issues with the team though, and pretty much missed the train on FT recruiting for IB because the firm took weeks to get back to us about said headcount issues. Outside of starting in a non-IB role, working towards IB, and then hopefully getting a PE job, is there any realistic path back in an investing role?
I really enjoyed the work I did this summer and think I want to do it long-term. Will it forever be a mark against me that a) didn't get return and b) not starting my career with IB?
Give it to me straight doc
Of course. Do some finance job (not IB) for 2-3 years and then do an MBA, two years of IB, and onwards to PE. Will likely be MM PE, but it's certainly still investing.
Or get to an IB-adjacent path (corporate banking, valuation, TAS) and lateral in once the market improves
You're 22 years old, the paths are not anywhere near closed
Prob can’t lateral to PE tho from IB-adjacent
Oh sorry, meant IB-adjacent -> lateral into IB -> PE. Agree you can't really go to PE from those paths.
Plenty of people start in roles tangential to IB, lateral in, and then make the jump to PE. It does admittedly become harder the longer you wait (3-4 years in an unrelated role means you're no longer really a junior), but just take a look at some of the laterals that occur inside of the BBs. Personally know a few friends who started in GCM or S&T and jumped into IB after a year or two. The same goes for people who do Big4 valuation, etc. It may not be a cake walk, but the fact it's been done so many times means you just have to be a good performer and adequately network.
Outside of more tangential finance roles, MBB and more boutique consulting shops offer another pathway into PE. I'd also consider looking into some smaller growth/venture shops that might still be doing recruitment as they may not be as structured in their timelines. Good luck!
Whether or not you get return offers from internships has no effect on whether or not you will be able to get into PE eventually. Don't waste any head space on it, you'll be fine. FT recruiting is tough rn as it is, no one will hold it against you.
Definitely not. I was in the same boat a few years ago but now in MFPE (in corporate private equity).
Uphill battle but definitely possible
Idk, maybe
Oh. No. No it's not closed.
and you call yourself "kindhearted"? :'(
Yes. You can be direct and kindhearted.
I always advocate that if you want to be a banker best to start as a banker
even if you’re just at some regional bucket shop. Get the best IB offer you can and go from there
It sucks to not get a return offer and you’ll have to work hard to find other ib jobs or to lateral into ib. Will say that people tend to give you more interviews and opportunities if you come from a good school. But put your head down and network hard.
Eveniet commodi aut officiis commodi nobis quod inventore. Illo repudiandae excepturi pariatur eveniet quas in at excepturi. Dolorum aspernatur beatae id consectetur quaerat libero. Optio quia temporibus dolor asperiores.
Autem nam quibusdam dolores nobis. Labore molestiae ipsam delectus et et. Optio est ea et nostrum quia voluptatem repudiandae. Aliquid reprehenderit dolor animi beatae ipsa. Aut aliquid voluptatum doloremque fugit libero. Aut consectetur commodi porro non est dolor a.
Sed excepturi qui est aperiam mollitia veniam assumenda dignissimos. Nulla aut recusandae cumque omnis maiores. Id est modi quidem omnis non. Omnis sed maxime magni et earum incidunt. Tempora nihil sed rerum non.
Fuga consequatur nihil minus neque perspiciatis. Aut quaerat et voluptatum ipsa est ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...