Post-MBA PE Recruiting Question
Slightly nuanced position I'm in here. I went to target undergrad, did 2 years of BB IB and then worked at a MM PE firm. I was let go by said firm after a little over a year and am now going to BSchool starting this fall. I will likely land at W / Booth / CBS / Kellogg (currently have interviews).
I'm aware I'd likely stepdown in "prestige / size" into MM/LMM land and also prob be an Asso or at best Sr. Asso.
Is this post-MBA PE recruiting a viable option for or it time to just hang up the buyside boots? Also considering a search fund / startups / corp dev. Thank you and appreciate any insights here.
Based on the most helpful WSO content, your situation is not uncommon, and there are several paths you can consider:
Post-MBA PE Recruiting:
Search Funds:
Startups:
Corporate Development:
Key Considerations:
Ultimately, post-MBA PE recruiting is viable, but it will require strategic planning and effort. If you’re open to alternative paths like search funds or Corp Dev, you’ll have additional opportunities to consider.
Sources: How are Booth, Kellogg, and Columbia for Post-MBA PE?, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Lesser known MBA career options? Looking for advice on what to do post-HBS., From PE >> Startup >> Back to PE, Ask me anything - Non Traditional Background to MM PE to H/S/W
Can you elaborate on how long you were in PE (like exactly 12 months?) and any color on your departure? It’s pretty rare to see an associate turned loose before their 2 year program is up. If someone back channels to your MM firm, am I right to assume references wouldn’t be glowing, or is there more to the story?
Yeah, it was more like 1.25-1.5 years but was performance related reasons. I came into the Associate program pretty complacent and not as buttoned-up as I should've been. The references wouldn't be glowing but was told the firm would also only share dates of employment if asked (which obv implicitly says something).
Essentially, much more aware and motivated now and would like to try again.
Gotcha. Did you get any transaction experience while you were there?
Nothing substantive, a couple potential platform deals that died in the early rounds and one that the we couldn't align on price expectations with the seller / co-founders later.
Worked on a sleepy slightly underperforming PortCo that people didn't really care about.
Ok got it. I'd say that a post-MBA role is pretty impossible given (i) limited tenure in PE (will be competing with peers with 2-3 years of experience), (ii) limited deal experience (slots will generally be prioritized for those who have closed platform deals), (iii) weak references, (iv) general competitiveness given narrowing of the pyramid at post-MBA.
I think you'd be better suited to restart somewhere as an associate (either A1 or A2) (after MBA), but you'll be challenged to thread the needle on timing given many slots are filled 1-2 years ahead of start dates (as you know from your original recruiting). Your weak references are also going to hinder you (whether they ask formally or back-channel). Be prepared with a buttoned-up story/pitch.
Not trying to be negative, but I think generally uphill battle to find your way back in.
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