With on-cycle PE recruiting getting earlier every year, first year analysts will have only a few weeks of experience on the desk before coffee chats and interviews start. My understanding is that once on-cycle concludes, you'll have missed the boat for many top funds. So how do you make such an important decision without the benefit of 2 years of banking experience? How do you know that PE is what you want to do? Not asking rhetorically; interested in personal experience making this decision, reading/resources, etc.
Trending Content
Career Resources
The answer is quite simple really, 1 - switch off your debating mind 2 - Prep, prep, prep 3 - Get the MF offer 4 - then you have 2 years to worry if your are doing the right thing. I had a bottom bucket analyst who had deferred bschool admit. Did squat, but boy that person enjoyed the time in office gossiping, dating and reading random novels. Obviously didn't get paid a bonus but made much more on an hourly basis, and even then that person’s resume looks fantastic!Not saying above so you should that, but point is it takes the worry about your future out of the way so you can really worry about what you want with you life
Not op but I started prepping, what’s the right way to prep for PE, I am using peak frameworks to review IB stuff and LBOs and will starts doing case studies, I feel like I’m way behind in PE prep
Prob cause ur non target
My 2 cents here, this early PE funds are looking at 3 things - tech skills, what's the story and pedigree (unfortunately!)
tech is table stakes, can get away with only one of the other, bonus points if you have a recent closed (about to close or even currently live working-on) deal and can talk about it.
Takes anywhere from 2 weeks to 2 months of intense prep, depending on person to person
By pedigree you mean some combination of undergrad prestige, bank reputation, and strength of group, correct?
IMO, MFs are generally aligned to recruiting from BB/EB, so mostly that's taken care of, I mean at this point GS vs BofA will only be a slight edge (unless if you are at Barclays now, LOL)
Undergrad school does get more weight (can be balanced out if you did something cool, basically giving you recall value)
Group is the last, unless that MF has a history of pulling from a particular bank (which am told they try to avoid)
Could be anything from interning for Obama to minor league Athlete, point is the flashy recall value and a story behind that experience (it’s PE so gotto nerd it up a bit, can’t be like Karlie Kloss was my sugar mama)
Full respect to everyone above but no one seems to be answering the original question.
I would identify a few criteria that you care about (geography, fund size (MF vs. mid-market vs. LMM), focus (general, software, consumer, etc.), culture/vibe). Then try to stack rank your criteria to identify 1-2 to prioritize and the rest as 'nice to have.' For example, if you strictly want a software/tech firm, perhaps be more open-minded on size OR if it's mega fund or bust, be open to both NY and Boston. Try to shortlist the firms that match against your list, then focus on interview prep (as those above have emphasized).
Once it comes time for recruiting, revisit your list and use it to prioritize where you take interviews and which offer(s) to take (if in the fortunate position to choose). It's a hectic time and some analysts are prone to accept interviews scattershot, then realize they can't interview with a firm they really like, because they're stuck at a superday across the country, etc. While you can't be excessively choosy, now is indeed a good time to reflect about what you're looking for for the next 2+ years before the mayhem begins.
With all this said, as you go through the process, it's worth keeping an open mind and focusing more on your criteria than firm name/brand (unless that's what you're optimizing for). You may find a great spot that you originally weren't familiar with!
Great answer, much appreciated.
Can I PM you, I need advice on how to navigate this i have no clue on what I want to do
I feel incredibly conflicted on what to prioritize/look for in this next role. I am unsure if I am passionate about Tech/Healthcare/Consumer/etc or what location I want to live in. These are all things I believe take first-hand experience to know what you're interested in / good at / will enjoy.
How the heck am I supposed to determine these life-altering career decisions as a fresh grad out of college? Does the industry I choose right now determine the rest of my career? Will I be siloed? I am so confused.
I realize it comes down to myself and what I want - but I don't know what I want. I could see myself working in Tech investing in SF but also consumer-focused in NY? My mind races just thinking about the million different strategies / opps out there and its tough to decipher what's interesting vs whats all hype etc.
Any advice would be appreciated
You're very early in your career and can have multiple pivots from here (business school, switching PE firms 1-2 more times, etc.). I wouldn't drive yourself crazy. Think about what would be a fun/interesting the next 2-3 years and use that to guide geo//industry/etc.
In a similar position to OP. Do you really "miss the boat for many top funds" if you don't go on cycle? Sure, I might lose access to BX/KKR, but if I'm more interested in UMM growth, would I be f***ing myself? My group is not supportive at all of buyside recruiting, so on-cycle seems like a pretty awful first impression... If on-cycle is the way to go, would I be better off waiting a year and going next Summer (after my first year).
Rerum voluptas delectus harum. Dolore corporis quos itaque debitis voluptatem neque. Et corporis in aspernatur maiores nihil non. Praesentium quia pariatur autem voluptatem voluptatem. Aut ex laudantium odio a dicta impedit.
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...