Secondary PE Analyst after 2 years of 3 separate IB/PE internships post-undergrad
First post here. I've been a reader for a while, never contributed. Figured I owe it to at least pass on something personally relevant, hopefully applicable to at least one of you out there. Also cognizant this might get flamed by the community for whatever reason but hey, I figure it's honest and anonymous.Sparknotes at bottom*Undergrad:I was an international student at a semi-target in the UK. Decided to study there to 'get away from home' (not many other authentic reasons at 18). Started off in a technical financial degree, realized I didn't have the grey matter for it so switched to general business studies. Relatively flexible program, so I filled my free course slots with things I found cool/sounded smart like neuroscience/psych/computer science/philosophy. Was an OK student (3.1 GPA). Could have studied harder, but that's hindsight speaking.Sophomore Summer:Summer of 3rd year (4 year degree at my school), I worked for a long only AM shop in London (connection/interviews through a friends Dad in High-School, sue me). Worked the summer and ended up getting positive feedback, reference letter from the CEO and PM of the team. Final day resulted in conversation about me joining the following year, to which I learned fresh undergrads are totally useless for the most part i.e. come back when you have some experience.Took that night to spend my summer comp on overpriced London City cocktails (DM me for recs). Spent the next two days paralyzed with a hangover in bed, and figured what's the worst that could happen. I emailed almost every PE/AM/IB shop in London (if I could find an email) and explained my situation. Attached my fresh references and CV. Likely sent out >400 emails over two days of hungover misery. Maybe c.25% got back to me? of that a handful were genuine responses. Ended up getting a call back from a notable Euro PE shop, 1 phone, 3 in person interviews and I got the 'grad-scheme' role (Undergrad intern for 6 months, potential to convert to analyst if you're good)PE out of undergradTurns out I wasn't that good. My intern intake was great, and I was pretty green out of university, with no formal IB experience, only a summer in public AM. Expectedly, didn't convert the role to full-time, but aware of my performance, began interviewing/networking during the program.I guess this is the 'jist' of my post. I recognized that I was young, inexperienced, unsure of where I wanted to be in the public/private markets. I cold emailed all of the alumni from my University via LinkedIn and explained my situation in as honest, no-BS terms as I could (refrain from the faux interest, it's pretty transparent). I was able to speak to a few people at large PE/Credit shops who gave me time of day, a number to call and some advice here and there, but nothing materialized. What I'm getting at is this was the second time I cold-emailed my way into a meeting/interview by a.) being honest ("I'm young, don't know a lot, can I buy you a beer and pick your brain?") and b.) why not reach out? If you do it authentically and respectfully the worst that can happen is an un-replied email.PE -> IB -> Private Credit -> PESpent a year with an EB in London. Straddled two groups the shop was known for, but this was C19 WFH 18 hours a day as an 'off-cycle' intern (temp hire off-recruiting cycle, potential to convert) so life was pretty brutal. While assessing my desire to stay with the firm for an analyst role, one of the alumni I spoke to 2 years earlier called up and asked if I wanted a 6mo internship at his Private Credit shop. I immediately resigned, turned down the analyst offer and went. Spent 6mo there, loved it but they weren't hiring analysts, and I wasn't sure if PC was my thing. Went back to recruiting (LinkedIn, circle square, Efinancial careers etc). Found a role with a moderately large UK based PE in London, interviewed and again explained that my professional history was unorthodox by typical IB->PE standards. I did learn what I liked, what I didn't and knew names at all those shops along with basic knowledge of all. Got the role and have been here a year.Conclusion:What I intend to get at is this. I was an average semi-target student, with average grades and nothing particularly notable coming out of undergrad. I approached networking the most honest way I could, tried not to BS people I spoke to, and be respectful of their time/position while being transparent with my intention (I need a job). This worked for out on two occasions. Nothing is guaranteed, and this isn't be-all-end all advice (Study hard, study something applicable). Not many students going into/coming out of uni know exactly what they want to do, if they do it's probably a BS sound bite their parents told them. It's ok to be curious and unsure where you fit in the world of finance. I was and I moved around a bit. Now I know what I like, what I don't, and have a few skills from all places.Appreciate that this may not be common advice, and don't use me as a backstop if this doesn't work out for you. Just my experience that there are alternative approaches to getting to where you want to be, and no pressure to do things according to what you might read on the internet. Work hard where you end up, don't be a dick, and try to learn...most senior people will try and help someone like that.CheersSparknotes:Average grades semi-target, went PE (Intern, 6mo) -> IB (Intern, 1yr) -> Priv. Credit (Intern, 6mo) -> PE (current, FT analystChanged jobs a few times, learned what I liked and didn't, cold emailed my way into PE and Priv. Credit, networked honestly, worked hard where I ended up and wasn't a dick (note: I was average semi-target, far from James Simons)Work hard wherever you end up out of uni, be honest with your networking, maintain connections once I’m they're madeConsider picking up the phone/respond to kids who cold email you when you end up 'making it' wherever that may be, it can mean a lot and make an impact...speaking from experience
Just to make sure It's transparent that I practice what I preach, feel free to DM me. Happy to have a chat
nobody is reading all this... separate your paragraphs at least
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