Post MBA recruiting to a different fund?
Starting my first year at H/S now with 3 years of large cap PE experience (and banking before that). For a lot of reasons, I turned down the return offer at my current fund (location, fund specific stuff, and I just didn’t like the people) but I did get an offer back and will have good references and was a top rated associate.
I’d like to go back to PE and was hoping to hear more about how recruiting works from anyone who’s navigated successfully.
1) is it just a networking game? How much can I trust OCR at H/S?
2) how hard is it to go back to a similar tier fund? I’m not MF or bust but I’d like to be somewhere that is a decent sized reputable fund.
3) general wisdom seems to be do a fun / different internship and recruit FT, but I’ve also seen a few people from my school who came from PE, interned at a fund, and then went back to their internship spot FT.
Based on the most helpful WSO content, here’s what you need to know about post-MBA recruiting for a different fund:
Networking vs. OCR at H/S:
Recruiting for post-MBA PE roles is heavily reliant on networking. While OCR (On-Campus Recruiting) at H/S can provide some opportunities, it’s not the primary channel for PE recruiting. Many funds, especially reputable ones, prefer to recruit through industry connections, headhunters, and direct outreach. Networking with alumni and leveraging your existing relationships in the industry will be critical. Headhunters will also play a significant role, so reconnecting with them early is essential.
Returning to a Similar Tier Fund:
Transitioning to a fund of similar size and reputation is feasible, especially with your strong background (large-cap PE, top-rated associate, and good references). However, it’s worth noting that post-MBA PE recruiting is highly competitive. Firms often view post-MBA hires as potential partner-track roles, so they are selective. Your prior experience and performance will help, but you’ll need to demonstrate why you’re a strong fit for the new fund. If you’re open to upper middle-market (MM) funds, your chances improve, as megafunds (MFs) tend to have fewer openings and more intense competition.
Internship Strategy:
The general wisdom of doing a fun/different internship and recruiting full-time is valid, but it depends on your goals. If you’re set on returning to PE, interning at a fund can be a strategic move. While some view it as signaling desperation, others have successfully converted internships into full-time offers. The key is to ensure the internship aligns with your long-term goals and to perform exceptionally well. If you decide not to intern at a fund, focus on building relationships and preparing for full-time recruiting.
Additional Tips:
In summary, networking, leveraging headhunters, and strategically positioning yourself during your MBA will be key to successfully landing a role at a reputable fund post-MBA.
Sources: How are Booth, Kellogg, and Columbia for Post-MBA PE?, From PE >> Startup >> Back to PE, Q&A - Starting Post-MBA Megafund PE, https://www.wallstreetoasis.com/forum/investment-banking/advice-for-undergrads-going-into-ib-interested-in-pe?customgpt=1, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1
Bumping this
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