Seeking PE Analyst position w/o a finance background?
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you need that MBA, its my understanding that the main way to get into PE is from an Investment Bank, since PE firms want you to have the skills from the get go.
And since IBs tend to focus thier efforts on recent grads, you'll have a hard time getting in.
Disclaimer: The post above has been made by someone who is not currently employed in IBD...follow the advice at your own risk
Get your MBA. Otherwise, it's next to impossible.
i was able to break into PE with a non-finance background (was a science major) straight from undergrad, but i had one banking internship, come from a top 3 ivy, and had to use mad connections... i mean, it is theoretically possible, but it wasnt easy. i turned down a bunch of pretty good consulting offers in order to wait for the "right" finance position. it was really stressful seeing all my peers securely employed while i kept interviewing and intervieiwng.... the process took about 8 months.. i wouldnt recommend it unless you have a strong stomach.. not to mention a ton of connections and an equally large amount of luck
Thanks for the replies. I know it's a long-shot scenario, but I just wanted to get some feedback from outside my immediate circle of connections.
PEanalyst: Are you with one of the mega-funds (Blackstone, TPG, et al) or a more average-size fund? What has your experience been like from a training standpoint? (It's my understanding that most PE firms are far too small to invest in a training program - they expect their analysts to come fully-formed from BBs.)
I'm at a mid to large cap firm -- about $2.5B under management. No its not huge LBO-type Blackstone/KKR/carlyle firm, but it is a pretty reputable PE firm that spun off of a well known ibank that eventually got bought out by one of the BBs. there is very little formal training -- i received on-the-job training from my boss/MDs, studied on my own (read the McKinsey valuation guide in and out), and took online finance/valuation courses. as an analyst, I wasn't expected to know much in depth, but i was expected to know all the basics very well. At my interview, they gave me all the finance questions they gave those with banking experience (e.g. comps/DCF valuation, WACC, CAPM, etc).
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