Startup PE Shop Straight out of UG
Hi, I am currently finishing my final year at a top ten UG business school in the US. Previous internship with Morgan Stanley in IM division, but wanted to get more deal based so have been working for a startup PE fund during the school year. The first deal is expected to close in Jan and the founder said if it closes he can pay me a full time salary post grad with equity in the fund (carry). What do you guys think about joining a very small PE shop, albeit with a stake in the firm and room to get promoted, straight out of UG? I will probably continue to apply during my last semester, but would really love to get advice as I am super stressed on trying to get a good job post grad knowing IBD positions have filled up. Thank you!
These guys are usually slimey and will tell lies and make empty promises. They also will overexaggerate their credentials. Get absolutely everything in writing.
Definitely would get in writing before joining. Although, he is a good connection who I doubt will try and screw me. My big hesitation lies in not having a set training program for new hires.
Avoid at all costs. Take your MS internship and leverage it somewhere better. Years down the road, having a big brand name will help your own credentials for whatever you want to do. I know it feels good having an offer, but overcoming short term happiness will lead to the real big feast if you believe in yourself and work hard.
Only way I'd consider this is, with your resume (others should consider this if they have nothing), after graduating a few months and needing cash. Or if this is the former head of XYZ and ABC reputable fund (which seems to obvs not be the case).
Thank you for the help. I will definitely try and apply over the winter holiday and into the early parts of next semester. Do you think I still have a chance of landing a solid role? How is spring recruiting?
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