These forums are intimidating
Incoming An1 at a LMM IB from a non target and first gen. How does everyone know which PE firm to recruit to already. Super intimidating. Do I even stand a chance if I were to try on cycle PE recruiting? My GPA is like a 3.4….
I’m not trying to be mean but I have never seen it done before
Hey -
It’s completely normal to feel what you’re feeling and even the most advantaged folks (target UG & IB groups) go through it.
Figuring out what you want to do is really hard. Folks that know this generally fall into the bucket of (1) firms giving them a chance so they had lots of internship experience and/or (2) mentors that give them advice. Mentors can for some be (1) parents/siblings in the industry or in adjacent industries, (2) older colleagues they interned with, (3) kids in the years above them in school, and/or (4) mentorship groups.
I get how not having that may make it seem like everyone has it figured out but that’s really not the case. Being overdeveloped in some aspects can come at the cost of not exploring other avenues and this is something that even the folks who are most ahead will confront in different manifestations down the line.
I’d focus on figuring out what you like doing, doing a great job at your bank, and most importantly finding good mentors that can guide you. Finance is an apprenticeship business so finding those that care about your success is paramount.
There are some great resources like SEO/MLT for folks from underrepresented backgrounds (which you may fall under). And generally speaking, not every PE partner is from a “target” background. They, too, get what it’s like to be an “outsider”. Fact is most people feel imposter syndrome no matter how target or how good they are.
Careers are about finding your inner light and believing in yourself to go out there and make it happen. For what it’s worth, you have already achieved a lot and should take stock and be proud.
Going forward, lean in and see where it all takes you. Best of luck!
Dude same I'm first gen non target etc but at a t1 bank and with low Gpa however my group makes up for it. I decided not to do on-cycle this year because of how generic I sound and legit don't know why I want some of these funds other than comp and strong brand name etc and Ngl a lot of the kids I know that got offers this oncycle are prep school kids and good for them no hate but like there is def informational barrier there with our background so I'll hold out for a year and gain as much knowledge as I can and recruit for a strong fund. FOMO is real, even though I know I will have great opportunities so I'm studying everyday until I am ready pretty much. Taking it day by day, you def do stand chance but if you want more of a strong PE firm I would do a year and move a stronger bank/group and recruit.
This is a long shot, but do you have any advice with navigating the recruitment process for junior summer (rising sophomore)? I'm a first-gen kid as well getting cold feet with all the networking and nuanced things required to even get these jobs? I'm seeing some of my friends who have family connection in finance get completely squared away with people to speak with immediately. Sucks seeing how well connected some people are lol
Yeah it’s wild how much your prior background to finance and PE changes your approach to recruiting. I’m also first-gen and even with a few friends that have gone through on-cycle, my thought process doesn’t just “think” like an investor or immediately know how to approach on-cycle.
When I ask my friends who have done it (i.e. prep kids who have parents in the industry) they say “it’s pretty straight forward just grind it out. I’ll be like “ok” and stare at an LBO model with a blank face trying to work backwards.
I wish I could just make sense of everything and know “what strategy I want”, but how am I supposed to REALLY KNOW what the difference between operationally focused/financial engineering/value oriented is…
I guess it just will take more time. I skipped on-cycle, and we’ll see how this process goes down the road with more prep.
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