PE Recruiting From Coverage At Mid Tier BB
PE recruiting has always been a bit of a black box and this forum has helped me a lot in understanding the process. I am an incoming analyst at a solid BB (Barclays/Bofa/Citi) who wants to do generalist PE (Consumer, Industrials, Healthcare etc.). However, I am in a niche group (REGL), although it is top within its industry.
I know that the exits from my group to MF REPE are good. However, I haven't really seen anyone go to generalist PE from my group. I was wondering if the group I am in will restrict me from getting interviews at UMM funds for generalist?
Can someone who worked at a similar caliber of group please provide some advice? Should I do On-cycle PE in my current group, or should I try to lateral after 6-12 months to a more sought after group, like EVR M&A, then do PE recruiting there? Thanks!
bump
How do you know you even want to do PE and you haven’t worked a day in finance
Would probably lateral, why are you in a RE group if you don’t want to do RE?
Not OP, but oncycle happens before people even start full-time, and they are expected to give fairly refined answers on where they want to land... unfortunately these days you need to have an idea of what you want before you start
You don’t have an idea of what you want before you start, you havnt even had a day in finance yet. This is why so many kids fail to make it past associate in PE. They don’t know what their strengths are and they just assume they’ll make it.
if this is baml which it sounds like it is they have had multiple guys go to corporate PE it’s just selection bias not lack of HH looks
are they good funds? MF/UMM?
yes MF is crapshoot for everyone but have seen it done just takes more legwork in crafting a story
You keep posting this with different scenarios and banks. It’s selection bias
Won't headhunters not hit me up though since real estate modeling skillset is different from regular? Like FIG for example.
FIG groups have and can place into generalist MF roles. But FIG and REGL are the first choice for FIG PE and REPE roles.
REIB will mostly place into REPE, but doesn't automatically preclude you from generalist. MF/UMM is unlikely if no one from your group has gone there, but if you tell HHs you want a generalist experience and are open on fund size you should be able to get to corporate PE - but it will probably be MM/LMM.
so if i want UMM should I lateral to another bank?
I mean hypothetically that's your best shot - but lateraling to a top group at a top bank is challenging. Even in a good market, people at a top group sign oncycle offers and don't really leave early because of that. In this type of market, even if they do leave they are not backfilling them
All to say, worth a shot but don't get your heart set on a specific tier / prestige.
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