Hi everyone!
I somehow managed to land a Private Equity Analyst Internship going to a non-target school. My intention overall was to go into IB and then PE after, but I started too late on that. Now I'm slowly approaching my last year graduation, Winter 2020. From what I know is that usually you stay in IB for two years and leave and start making like 300k in PE, repetitively.
My question is it possible to make it to the 300k straight up starting as a PE Analyst and working in the field for a few years? Or is that option only if you have worked in IB for two years?
Is it impossible to work as a PE intern and apply for a full time IB internship post graduation?
Thank you in advance!
Not sure where you got the $300k number from, but that number is pretty unrealistic unless you’re at a MF or UMM fund. Regardless, money should be the least of your worries right now. Congrats on getting a PE internship, but rather than being concerned about money you should be working hard to get a FT offer if your fund even has an analyst program out of school.
I couldn’t tell you where exactly I got the number from. I heard talk about it at school, on here and even on reddit. I never really New the validity of the number tho The firm I’m working at doesn’t have a analyst position post graduation, so I’m currently searching for work at another PE firm after this one finishes up
Even with a PE internship, PE analyst positions are mostly only available at the larger funds. It is significantly more competitive than IB due to the number of seats available (which is minimal). Not to deter you from this goal but it's more realistic to try to recruit for both PE and IB and see what sticks.
FWIW, I interviewed interns / analysts when I was in banking. Even if they had PE internship it was fairly easy to tell which one's actually did something and who simplified logged deals for the associates. Moral of the story; internships vary a lot so try to ask questions about what you'll actually be doing during the summer.
I did not intern at my fund, but I received a full-time offer when I graduated. My program was a 3/4 year one, and when we were promoted to associate we received the same base/bonus as the IB associates. However, our firm is definitely a mega-fund and is a big firm, not quite sure how it will work for a smaller firm
How long did it take for you to become an Associate?
2 years, then auto-promotion to associate unless the analyst was really bad (hasn't happened yet)
Less than a handful of funds pay 300k to first year associates and PE analysts make roughly equal to EB analyst pay.
Sorry EB Analyst?
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