Hi everyone. I go to a top feeder elementary school and hoping to get into <abbr title="middle market">MM</abbr> or hopefully <abbr title="megafund">MF</abbr> <abbr title="private equity">PE</abbr> down the line. I'm...
I am about 3 weeks removed from receiving three <abbr title="private equity ">PE</abbr> offers (from <abbr title="megafunds ">MFs</abbr> and top <abbr title="middle market ">MM</abbr> firms), both elated and relieved to be done...
There's a perception of people on the street that private equity is the cream of the crop. The hours, the pay, the beloved carry, the work itself - is it all greener grass syndrome? Not quite, private equity is pretty awesome by most standards; that's why becoming a private equity...
Hello <abbr title="Wall Street Oasis">WSO</abbr>, I have been a long time lurker, and this is my first post (or maybe I am one of the top rated authors who decided to make a post anonymously). I have noticed a certain lack of information about infrastructure investing on...
I compiled this post because I've received several questions aroud this topic in private messages and I thought it may be helpful to discuss my experience with a wider audience. I would like to caveat all of the information in this really long post below by saying that these are all broad...
Wanted to start a thread compiling a list of finance vocabulary, formal or informal. Words can be as "basic" as *EBITDA* or as "fancy" as *capital extraction*. The more pretentious the better. After all, capital expenditures aka capex essentially means to fix shit up or to...
In the spirit of thanksgiving, I have decided to host a thread where you can ask all you ever wanted about banking or <abbr title="private equity">PE</abbr>. Please feel free to ask away.
Recently there was a thread on what books one should read to assist in the development of a successful career in finance. I strongly believe in balancing your library with pure "finance books", pleasure reads, and classics, with a strong bias towards the classics. You will learn about...
Starting my rant.... <rant> I just got asked about career planning for the move from <abbr title="investment banking division">IBD</abbr> to <abbr title="private equity">PE</abbr>, yet again. I've a lot of sympathy for my fellow...
Hi Everyone, I’ve lurked on this site for a long time and it’s been extremely helpful at different points in my career. I’m interested in giving back via an AMA thread as I’ve seen others do over the years. <h4>Quick background</h4> <li>Graduated from one of the...
Edit: <em>Wow, did not expect this thread to get so popular. Apologies if you PM'd me and I have not responded - there are dozens of messages I would respond to if I wasn't getting crushed on a deal. My firm must monitor my <abbr title="Wall Street...
It’s been awhile since I’ve checked in on <abbr title="Wall Street Oasis">WSO</abbr>. I hope 2016 has treated you all well and you’re now settling in for some well deserved rest and relaxation time over the course of the holidays. It may just be selection bias...
Starting a thread for mid-career finance professionals. Where did you guys go after banking? I ended up in <abbr title="private equity">PE</abbr> myself, but man, it's hard. Seems <abbr title="Wall Street Oasis">WSO</abbr> is all about the...
Wondering about this. Is it just the prestige/pay? Seems like your experience would be quite limited at megafunds (type of work similar to banking, just modelling focused). Why don't more people pursue <abbr title="middle market">MM</abbr> -- especially if it is less...
I wanted to tell my story on this forum - as <abbr title="Wall Street Oasis">WSO</abbr> has been the sole reason which helped me learn about the industry and how to break in. I am from downstate New York, born and raised. I was a poor student in high school, so much so I...
Hey there wolves. I recently set a goal for myself to be have a million dollars sitting in my savings account before mid-age crisis blows me across the face like a metal baseball bat. If there's any of you young bucks out there on the street with a similar goal. Matter of fact, if...
Hi everyone! Long term user, but new account here to preserve my anonymity. <h3>My background: </h3> I'm currently a private equity analyst at one of the funds in the topic title. As some of our processes are slowing down, I wanted to check back into the forum and give back...
I spent 3 years in bulge bracket bank covering awesome tech companies. Banking was great for me can't complain much. The culture in my group was amazing, the people I worked with were fantastic. Lots of social events, group lunch breaks and coffee chats. But like everyone else I was...
So here's my dilemma. I'm working on finishing my undergrad. Long story short, one thing led to another and I was able to find full time work in commercial banking (including leveraged finance). Since I was working for a regional bank and wanted to move up, I felt that my unfinished...
As I mentioned in a previous thread (<a href="//www.wallstreetoasis.com/forums/how-to-make-vp-in-private-equity">"How to Make VP in Private Equity"</a>), a couple years ago I said goodbye to the private equity industry and decided to try my luck in the tech...
<h3>1. Why not just try to start with a <abbr title="private equity">PE</abbr> firm?</h3> There are <abbr title="private equity">PE</abbr> firms that hire juniors out of undergrad. However, this 99.99% of the time is in a sub-associate...
Just want to share best practices and hear what other people do to be more efficient. I'm wrapping up 1st year associate in middle-market growth equity shop... <h3>PortCos</h3> * Keep a folder for each portco in outlook where I save all correspondence * Save all...
Recruited on-cycle in early December and signed with an upper <abbr title="middle market">MM</abbr> buyout fund in <abbr title="New York City">NYC</abbr> starting Summer 2019 (flagship fund size: $6-9 bn; AUM: $20-40 bn). Lazy Friday in the office...
Something I've been thinking a lot about recently is if I have (or if I can develop) the mental "it factor" that I see among so many of the top VPs, Principals, and Partners at my firm and others. I'm not talking about internal drive or ability to multiply three digit numbers...
As a woman eyeing a career in <abbr title="private equity ">PE</abbr>, how could one best plan pregnancy to minimise damage to one's career progression. Time it with MBA? Wait till Director or even Partner? I doubt there are many mothers on here who can speak from...
You've probably heard this one before. "The only thing harder than breaking into private equity is staying in private equity". I would love to hear from people in the industry - what separates those who rise through the ranks from those who do their 2-3 years as an associate and...
A leading upper mid-market <abbr title="private equity">PE</abbr> firm emailed me this: "It’s rare that we recruit for a VP role. We typically hire at the Associate or Senior Associate role and promote." This seems fairly typical, although it's rarely...
Hey Guys! With regard to the above captioned subject, I'm looking to get in touch with candidates who have applied for Abraaj's GAP for the 2017 intake. In this regard, I'd be grateful if people can apprise about the status of their application process. Also, all those who are...
Hi All - Posting from a throwaway account for anonymity, but wanted to get everyone's thoughts on a relatively new phenomenon I've started experiencing since beginning my role on the buy-side. <h4>My background: </h4> A bit of background on me - traditional path to...
Happy to answer any questions. Message me personally if you'd like 1 on 1 help.
I’m 6 weeks removed from receiving an offer at a UMM/<abbr title="megafund">MF</abbr> – it was truly a thrilling experience. Now that I’m back into the swing of things at work, I thought I’d give back to the <abbr title="Wall Street...
Just curious. If someone wasn't worried about comp, wasn't worried about fast progression, wasn't worried about sector, just liked the work of <abbr title="private equity">PE</abbr> and wanted to have the best lifestyle possible, which shops would you...
We thought (maybe just me) that <abbr title="private equity">PE</abbr> would have none or significantly less of the silly bullshit that banking had. Would love to hear some horror stories of pre-MBA associates being owned by their more senior colleagues. The gorier the...
First year <abbr title="private equity ">PE</abbr> associate...rolled into <abbr title="private equity ">PE</abbr> without much of a break once I got done with my third year in banking. As my username suggests, I am fully burned out, and was fully...
Hello World! Compensation in the <abbr title="private equity">PE</abbr> world can be a bit of a black box. I sometimes get approached by folks who are perplexed by their compensation packages at a middle market <abbr title="private equity">PE</abbr>...
Heard this per head hunters / friends at various banks. Curious to hear what others have been hearing. Thanks
I have heard on some threads here and in general that <abbr title="private equity">PE</abbr> jobs can get stale and boring, of course every job has its shit days but the nature of <abbr title="private equity">PE</abbr> is long term concentrated...
Hi guys: For companies with large pension obligations, is it possible to get rid of them during <abbr title="leveraged buyout">LBO</abbr> through some kind of structure, or would that only happen during bankruptcy? Thanks!
A lot of basis towards each coast and no love for the middle of this country. Would you take a job in one of the flyover states for $150k base, $90k(mixed Bonus) for 2 years then it jumps up VP, SVP ($400k base) etc? Corporate Development type of role with financial analyst mix. If so what...
My experience bridges three worlds: investment banking, private equity, and startup life. Here’s my story, in a nutshell: I graduated from the University of Texas at Austin's Plan II and Business Honors programs and was hired directly out of <span...
It's been several weeks now since I received my offer from a top <abbr title="middle market">MM</abbr> <abbr title="private equity">PE</abbr> firm. As several other users can attest to, the <abbr title="private...
Figured I'd finally post this, and reach out to the usual studs on this board who have a bit more insight then myself. <h3>A little background: </h3> Semi-target, 3.6 GPA, 2 years <abbr title="middle market">MM</abbr> banking, and I've been at a...
Want to hear from junior <abbr title="private equity ">PE</abbr> monkeys what their biggest wastes of time are. I have to deal with a bunch of process bullshit, and I want to hear what else sucks up people's time. For example: - When first looking at a company,...
Looks like Christmas has come early this year...for some Rumor has it that the following firms have kicked off; post your observations below! * New Mountain * <abbr title="Kohlberg Kravis Roberts & Co.">KKR</abbr> * Centerbridge * Ares * Summit * ...
So I was in business class on an transatlantic flight the other day and ended up sitting next to a F50 executive. He was surprisingly friendly and started up a conversation with me (we were both boozing pretty hard, as one tends to do in business class). It was a fascinating conversation - this...
All, I work at a middle-market fund (started about 8 months ago here) and wanted to learn from someone qualified (associate level or above) who works on the buyside what the best and most efficient way to analyze a <abbr title="confidential information...
There are a lot of posts on <abbr title="Wall Street Oasis">WSO</abbr> about <span class='keyword_link'><a href="/finance-dictionary/what-is-investment-banking-division-IBD"><abbr title="investment banking...
Hi All - I'm ~5 or so years out of college. I did not do a formal 2 years of investment banking and was instead hired out of undergrad as an analyst at a fund. I've worked at several firms in several major US cities. I've worked at one smaller regional firm with $500M - $1B AUM...
Currently a Sr. Associate at a well-known $1Bn+ shop. Long time lurker and first time poster. Given all the misinformation and misguided advice so prevalent on this site, I'm here to (hopefully) provide some real advice to private equity hopefuls. AMA!
I just got laid off from my 3rd <abbr title="private equity">PE</abbr> job in just over 4 years (all MM). I am pretty devastated as I thought this was the one I was going to stay at for awhile. This time I was a VP (first two as Associate and Senior Associate), and was laid...
So here I am, the prodigal son returning. I haven’t been on this site in some time but wanted to write this post to generate some helpful content as a way of saying thank you to Patrick and the rest of the <abbr title="Wall Street Oasis ">WSO</abbr> team, as their site...
Hi, I've raised a few <abbr title="private equity">PE</abbr> funds that were very successful at growing their AUM (>$2bn raised). I also headed cap intro for a big Wall Street investment bank, in a non-US region. I've also been involved subsequently in several...
Hey all, I was able to acquire a small managed service business a few months ago ~1M Revenue, 300k <abbr title="earnings before interest tax depreciation and amortization">EBITDA</abbr> almost all recurring revenue. I am looking to acquire another one in a different...
Graduated from a non-target university and joined <abbr title="McKinsey, Bain and BCG">MBB</abbr> at a mid-size office. Just signed a UMM/<abbr title="megafund">MF</abbr> <abbr title="private equity">PE</abbr> offer during 2020 on...
I'm a VP in <abbr title="middle market">MM</abbr> <abbr title="private equity">PE</abbr>, ask me anything. Interview prep questions, industry questions, etc. etc.
I’ve been threatening to do one of these for a couple months, and I figured I’d slam it out while I have some downtime in the office. I’m in my early 30s and I work at a middle-market private equity firm in the Southeastern US. I’ve taken a rather long, circuitous route to get here, and...
I have my first face to face meeting over breakfast with an alumni who's firm I'm looking to get an internship with. This will be my first meet up outside of events my school puts on so I'm not really sure what to expect. What type of conversation should I expect and prepare for?...
So in general I understand some about <abbr title="private equity ">PE</abbr> salaries, but I have a few questions. So let's hypothetically say you're a VP with a salary that includes 0.5% carry, which in a given year (Year 1) amounts to $500,000 for you, which is...
Hi there, My girlfriend and I are both from the midwest but doing banking and consulting, respectively, in the west coast. We've both met with recruiters that told us the on cycle process began last year early December. Would it be unwise to go back to our cities for ~roughly 5 days near...
<em>The webinar for this case is TODAY, July 6th, at 5:00pm EDT. If you miss it, it will be replayed for free on the homepage on August 6th</em> Even though recruiting season is not necessarily around the corner, I thought I'd share the below with the community. If anyone has...
Confused Young Adult
Hi everyone, To give you some background, I recently inherited around $2.0 million from my passed grandfather. I am looking into investing this money, but am rather skeptical of the market at the moment, and bond yields are very low. Of course, I will still diversify some money into those...
Hey guys, I was announced on Friday that it wasn’t going to work out at my current firm and that I would need to start looking to transition somewhere else. I need some advice. The situation now is that they are letting me stick around for a few months to finish the deals I’m staffed...
I attended an Ivy, worked as an analyst at a <abbr title="bulge bracket">BB</abbr>/<abbr title="elite boutique">EB</abbr>, and just began my second year as a pre-MBA associate at an upper middle market <abbr title="private...
<h4>My Background</h4> <li> I'm a co-founder in a food-tech incubator and have been actively investing in food-tech for a year.</li> <li> Experience in both private equity and real estate </li> <li> Has worked at some of Asia's top...
I am currently a first year analyst at a mid-tier middle-market bank (William Blair, Piper Jaffray, Baird, etc.) and went to a non-target state school for undergrad. My goal/dream is to work for TPG in the next 10 years and was wondering if anyone had any advice on how to get there. Do I need to...
What are some of your favorites? Always thought [this one](https://foragerfunds.com/news/dick-smith-is-the-greatest-private-equity-heist-of-all-time/) was fairly clever.
<em>Mod Note (Andy) - this AMA originally went up last December but @THE PsYcHoLoGy" wrote and said he could still answer questions</em> <abbr title="Wall Street Oasis">WSO</abbr>, I joined this site during my junior year of college, and it has proved to...
<h4>Attached to the bottom of this post, you will find the Wall Street Oasis private equity resume template for experienced professionals, used by the WSO paid service and thousands of candidates to successfully land a job in private equity.</h4> For those of you with deal or...
Hi everyone! I’ve really enjoyed the community here at <abbr title="Wall Street Oasis">WSO</abbr> and the fantastic insights and advice people have shared over the years, so thought I’d give back and share my non-traditional experience. <h4>My...
Have a few weeks before starting my post-MBA <abbr title="private equity">PE</abbr> role so figured I'd try to give back. I've been a long-term lurker and infrequent contributor, and would love to help with any questions you guys might have. Quick background...
<em><strong> mod (Andy) note:</strong><em> this was originally posted in July but he's still answering q's for those interested in <abbr title="venture capital">VC</abbr>. In following the solid threads of the 10x leverage,...
Team pages have like 2-3 women max. Are the women in analysts programs just not pursuing <abbr title="private equity">PE</abbr> and opting for Corporate roles instead ? Can anyone share their experience or those of your female friends and the paths they take after their...
When we talk about hustle, usually that means extreme networking or something. In my case, I recently met a second year associate at mega fund in <abbr title="New York City">NYC</abbr>. I know she's single, and was the first to text me about something random. Quite...
For those that don't know, private equity firms invest in a company, take a majority stake, improve the company and then exit their investment at a large profit. In order to magnify returns, PE firms make use of leverage (borrowed money) to conduct Leveraged Buyouts (LBOs)....
Name some funds <span class='keyword_link'><a href="/company/kohlberg-kravis-roberts-co">outside the <abbr title="Kohlberg Kravis Roberts & Co.">KKR</abbr></a></span>/<span class='keyword_link'><a...
A lower <abbr title="middle market">MM</abbr> <abbr title="private equity">PE</abbr> firm offered $160k cash comp, with a vague description of deal participation. This is for a pre-MBA associate in a state with no income tax and fund size ~$500m. Is...
<h4>Bio:</h4> * Currently an Associate at a sector-specific European mid-market fund * Previously an Analyst at a smaller boutique * Started out at a "global" investment bank * Undergrad from a continental European uni and post-grad from a business school in...
A little bit of background on myself: Graduated from b-school (semi-target) and one year masters program in business from a target. I have some relative <span class='keyword_link'><a...
Post #2: Update as of Feb 21, 2014 It has definitely been a stressful month. Recruitment has fully kicked off for me and I was surprised at the amount of traction I’ve gotten so far. With each interview, my responses have gotten better and I learned to <abbr title="balance...
Hey everyone - this forum has served me greatly over the past couple of years and so I thought I'd give back to the community. Given the lack of info on <abbr title="private equity">PE</abbr> Analyst programs on <abbr title="Wall Street...
Wanted to get the community thoughts about family office <abbr title="private equity">PE</abbr> firms in general and my situation. A little background - this is for a junior level position, I am currently working in the credit arm of a large <abbr title="private...
Hey folks. Spent a lot of time as a ghost on these forums back when I was trying to figure out what I was doing - figured I'd give back a little for anyone who's looking at the renewable energy infra/project finance space, with specific emphasis on the buy side. ###...
This is my story of how I got into <abbr title="private equity">PE</abbr>. Just want to point out that there are some non-standard paths out there. I thought I would share it if it can inspire some kids on the website. <strong>Below is the full story, but from all...
I received this <a href="//www.wallstreetoasis.com/guide/the-wso-private-equity-interview-prep-package"><abbr title="private equity">PE</abbr> interview question</a> awhile back and I was wondering how one would answer this? If I wanted to evaluate...
Here's a question for all you Analysts in <abbr title="investment banking division">IBD</abbr>. Why is everyone so obsessed with exit opps of <abbr title="investment banking division">IBD</abbr>, group placement, and moving into PE? Why...
Was curious if programs like MFin at Princeton, MIT or MS in financial Economics at Columbia are target schools for <abbr title="private equity">PE</abbr> firms like <span class='keyword_link'><a...
In short, I recently accepted an offer to join a lower middle market <abbr title="private equity">PE</abbr> firm after a little less than 2 years in <abbr title="investment banking">IB</abbr> and, as a longtime reader of <abbr title="Wall...
Maybe I'm just cynical, but at my <abbr title="middle market">MM</abbr>, we have rarely seen family offices compete for deals in auctions and it seems there are more and more being formed weekly, if not daily. I'm astounded at how much capital is now going into...
Hey Guys, During one of <span class='keyword_link'><a href="/guide/wso-internship-guide">my <abbr title="private equity">PE</abbr> summer analyst</a></span> interviews I got a financial report of 40 pages in front of me while...
<center><img src="https://www.wallstreetoasis.com/files/pereport_title.png" alt="" /></center> <br> The <a href ="https://www.wallstreetoasis.com/private-equity-industry-report">2017 Private Equity Industry Report</a>...
Two kids that I know from college (non ivy target, but they were top students in top groups) that graduated in May 2016 so 1.5 years total as analysts at <abbr title="bulge brackets">BBs</abbr>/EB's have recently updated their LinkedIn to "Associate at...
<h4>About me</h4> <li>Top 20 Undergrad with GPA ~3.0 in Economics</li> <li>Big 4 Consulting ~2 years (Not an <abbr title="mergers and acquisitions">M&A</abbr> diligence group, classic S&O)</li> <li><abbr...
I've put together my fall reading list, thanks to kind advice from fellow WSOers. Sharing in case it's useful to you, or in case anyone wants to add some suggestions. **VC** * Venture Deals, by Brad Feld * From Zero to One, by Peter Thiel and Blake Masters * The New New...
Hi all - Wanted to get some perspective / insight from some of the more senior / tenured <abbr title="Wall Street Oasis">WSO</abbr> members on something I have been trying to figure out for a while. Come this summer I'll be rolling off of my associate program at an...
I'm currently working as a pre-MBA associate at a leading Silicon Valley <abbr title="venture capital">VC</abbr> firm (nearly $1B in current AUM). Happy to take any questions about working as a <abbr title="venture capital">VC</abbr> associate,...
On-cycle <abbr title="private equity">PE</abbr> recruiting is a nightmare. Your sense of self-worth becomes tied to a result that is ultimately out of your hands. Rejection is inevitable and crushing. Remember this is a small step in your career and working in private...
Guys, Below is an AMA podcast + some key takeaways on fundraising for <abbr title="private equity">PE</abbr> and <abbr title="hedge funds">HFs</abbr>. I was in-house IR at a couple <abbr title="private equity">PE</abbr>...
Curious if anyone has any visibility on compensation as you approach the upper levels of IR/Marketing/BizDev roles at large funds? It appears that compensation becomes very close to that of the investment professionals, particularly as you get to the upper levels where equity stake gets...
Anyone have a good learning resource on transition culture at a distressed company post-acquisition? Feeling pretty good about a distressed co. we just picked up but the culture is seriously fucked because the last owner was not running off a real management structure.
I've noticed people here tend to <span class='keyword_link'><a href="/finance-dictionary/what-is-a-fund-of-funds-FoF">shit on <abbr title="fund of funds">FOF</abbr></a></span> when it's not a bad way to go directly to...