As said above, what shops recruit straight from undergrad, and what does this process look like? Is it possible to end up at a reputable shop out of undergrad? If not, is it easier to move from LMM->UMM vs. IB->UMM after a few years of experience?
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Use the search function, there are endless of threads on this already.
Long story short, there are graduate positions in PE (mostly at UMM / MF funds) but the number of positions are very limited. As such, you would need to be at a top target and have had an internship at GS / MS / JPM (and maybe even a previous PE internship) to have a chance, but even then chances are very small. If you are female or diversity, then standards are lower just like they are in IB.
LMM and IB are very broad terms. Moving from a well-known top-performing LMM to UMM would be easier than moving from a weak group at HSBC to UMM. Moving from GS TMT to UMM would be easier than moving from some unknown LMM in the mid-west with weak performance to UMM.
To get into PE from undergrad you'll need to either be target + have a good internship or have a couple of really solid internships. Either way you slice it, you need to be cream of the crop.
Do you go to a ~top 10 college or a ~top 25 + 'diverse'?
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