Is It the End of the Road for My Investment Banking and PE Dreams?
Hello everyone,
I'm currently a senior set to graduate this May. My ultimate career goal has always been to break into investment banking and then transition into private equity. Last year, I managed to secure a junior internship in corporate banking. Given my background from a non-target school, this was the best opportunity I could find. My plan was to work diligently and leverage this experience for a full-time role in investment banking, inspired by the seemingly fruitful COVID-era recruitment trends. Unfortunately, things didn't pan out as expected. I wasn't able to secure a full-time position, and to make matters worse, the bank where I interned has put a freeze on hiring, closing off that path as well.
Now, I find myself with several opportunities in various business and finance roles within the US, but as I continue to observe the track records of individuals at major PE firms, I can't help feeling out of depth. It seems like everyone has the perfect resume, and I'm starting to question the feasibility of breaking into the sector with my background. While I've always believed that hard work and determination can lead to success, I'm now at a crossroads, wondering if it's time to recalibrate my career expectations and explore alternative paths.
Has anyone been in a similar situation, or can offer any advice on how to proceed? Is there still a chance for someone with my profile to break into investment banking and eventually move into PE, or should I start focusing my efforts on more attainable goals?
I appreciate any input or guidance you can provide. Thank you.
People who work in accounting eventually make it
Go back to corporate banking, clap some cheeks in your early 20s, and get into an M7 in a few years and try again. Not the end of the world.
it's the end only if you surreder
This right here.
Build up as you go, as cliche as it sounds at the end of the day only one stopping you is you brotha, cheers.
*edit* - I'm sure there's a way to break thru and add skill sets to your resume that will help you stand out at the same time finding a firm that will give you a shot; I'm not in the PE space so.. I don't want to act like... or give advice on something that is not in my wheelhouse, but main idea is there's gotta be a way in, access to the industry on the whole, gain skills, build them up on your OWN (and/or with supplemental learning and certs) and then move accordingly as needed etc.
It's not that deep. Go work in one of those finance jobs for 2-3 years, grab an M7 MBA and off to IB you go. It's very possible to move to PE from there, you just may need to be a bit patient for opportunities
Stop comparing yourself to the guys at MF PE. That is a very unattainable route even for most people who start off in IB - but there's plenty of opportunity to be an investor in the MM or LMM, and if you're a star you can move up.
With the first thing I read being “I’m a senior in college set to graduate in May,” I can tell you it’s far from over. The track that everyone talks about being “IB 2 years then PE MF” is not always the way. In my PE internship I met loads of people with more unique backgrounds than that (granted, most people started in IB and it was a smaller fund) but it’s still not as linear as people think. This is a really tough time to graduate but recruiters in 3 years will know this was a bad time;
TLDR - you’re too young for it to be REALLY over for you
It's the end of the road for your dream of being a 24 year old megafund PE Associate.
Aside from that specific one, any other dreams of yours are as alive as ever.
And not to be melodramatic but that road was over when you got your first few B’s in high school, give or take.
I started in FP&A and 3 years later just got the associate promo at a solid MMPE shop. Lots of things are possible with some perseverance and effort. Being in a good market also helps a lot.
please how
I am also literally in your exact position. My plan is to work in one of those other finance roles, and keep networking as hard as I can to break into IB. If that doesn't pan out, I will either pursue a Master's in Finance after working for a year or two, or maybe an MBA after a little longer, and from there break into IB/PE. Feel free to pm me, we can talk a bit more and share strategies/thoughts
My thinking is to just keep trying as hard as I can, doing my part and knowing the rest is out of my hands. Also, some people I've spoken to have told me how it took them (immigrant w/ a PhD at a top school) nearly a decade of constant applications to break into the industry they wanted to work in and are now successful, so it helps give you some perspective as to what life's struggles/perseverance looks like
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