Summer - BX RE vs. Top3 BB IBD
Hi guys,
The title quite says it all; have received Summer Analyst offers from a top3 BB for IBD and from BX REPE. I'm more interested in PE as it is my middle-term goal to land a job in a (large) PE fund, however, not sure about RE investing, though I have to say that I hardly see myself declining a BX offer...
Would you recommand going with BX and hopefully lateral to their Corporate Private Equity practice or at another firm, or stick to M&A at a BB for the summer role and hopefully move to PE later?
Many thanks in advance for your input
I would 100% take the BX offer and try to lateral. My reasoning being that even if you get into a top group at a top BB, there is absolutely no guarantee you will get into a firm like BX (not saying you wont but you will be up against a lot of top grads from the top EBs too)
If you are in the US, BX may force you out to do your MBA after 2 years, at which point you could then try to look at the traditional PE route with BX on your resume.
Couple thoughts: BX has been building out their RE franchise for years and the majority of their Corp PE associates still come from banks (eg I think they take 1-2 Tac Opps analysts, 2-3 Corp PE analysts and 8-10 Re analysts). Point being, I think you’ll find it very difficult to transition internally when I’ve heard there’s actually pressure from above in the opposite direction. Not saying you shouldn’t go there and I imagine you wouldn’t have too much trouble recruiting for generalist banking roles after your summer, I just want to caveat what people say about the Blackstone name and buy side out of undergrad. Obviously it’d be a lot easier if you knew the bb group (/firm) since that would play a big part of my decision.