Realistically, do I have a non-zero chance at getting into private equity?
Sorry for such a clueless question. I'm a new grad from an Ivy League school (not HYP). I'm going into a non-banking, non-consulting job, so I'm aware my chances of getting into private equity is close to zero if not actually zero. I very recently found out about private equity and think that it is a very good fit for my personality/interests. However, because I have such a low chance, I'm hesitant to even try recruiting for it. I need some advice as to if it is even worth trying, or if I should try for something else (I'm thinking about quantitative trading as well since another appeal of private equity is the big money, of course). I'm listing some info below.
- Math major at a non-HYP Ivy League School (finance target school) with a 3.9x/4.0 GPA
- Two summer internships at a FAANG company (technical program manager)
- Various leadership positions during college (president of several clubs relating to math and computer science)
- Have some finance-related activities but only during freshman/sophomore year of college
- Wrote a math thesis and received "high honors"
- Some other activities that I consider less relevant (although those are also tangentially relevant)
I'm kinda hesitant to reveal what job I'm going into as a new grad since it's a very small industry, but it's basically fintech. I would appreciate any advice!
I would try to lateral into MBB or IB quickly and then recruit to PE from there.
That makes a lot of sense. I will probably start networking with some alumni. Thanks
Shouldn’t be too hard to lateral in IB. That’s your best bet.
Thanks for that insight! I was just afraid that my chances at lateraling to IB is over since I'm not an undergrad anymore, but I'll def give it a shot
Your profile definitely does not scream finance, but you clearly are smart and impressive.
I believe you should give your current job a chance for 6-10 months, then evaluate if you want the finance track. I would start networking in IB/PE with alumni, which should not be an issue being from a target, and explain your late interest.
You could always go to business school and enter a more structured way.
Thanks for your advice! Yea, I'm planning to stay in my current job at least for a year, while I start preparing myself to lateral into finance. I will definitely start networking with some alumni. Business school also sounds like a good idea!
Lateral into TMT IB. You definitely have an okay chance you just need to get into IB and you're all set (IB will be the harder part). Don't expect to get GS TMT, or Blackstone PE, but you can certainly wiggle your way into MM/LMM PE and move up from there.
Thanks for your kind advice! Yeah I'm not expecting to get into any mega funds -- I'll def look into some MM/LMMs!
Would strongly encourage you to look into a few of the tech-focused MM PE firms. Baypine in Boston, Haveli in Austin, and Alpine Investors in SF are high-profile TMT MM firms with great analyst programs. I think your background would make you a strong fit to work there and they're more likely to take a chance with a non-traditional hire. You could then go up-stream to a larger shop should you choose to. Happy to discuss further on this thread or over DM if that would be helpful.
Would you mind sharing why you want to leave your current role?
Thank you! I'll definitely look into those companies, and thank you for proposing to discuss further -- would absolutely love that! It's not really about wanting to leave my current role, but I'm thinking more into what I want to do long-term. I feel that the career progression in the tech world will stagnate at some point. I decided against the FAANG role because I got worried I might get too comfortable earning a decent amount of money while having a cushy lifestyle, as I wasn't being challenged enough and not learning much.
If you are interested in fintech private equity, you can lateral straight into a lower middle market/middle market shop doing that. Your background is great for that type of role; you would just need to build some modeling skills in your free time. The easiest path to the buy side for you is probably actually venture capital or growth equity, so you should heavily consider those before committing to buyouts.
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