15 Comments
 

Pretty sure there is only 3 UMM analyst programs: ACOF, GTCR, and FP. Dont know if Apax still hires out of undergrad. Generally they are better than IB outside of outlier groups like PJT RSSG. Keep in mind the median exit even top IB programs like EVR M&A is MMPE

 

There is no median exit, it's not apples to apples. Contrary to popular belief, not everyone's strict goal at a top bank -- especially across groups -- is MFPE and they do or don't study accordingly.

If someone seriously wants MF/UMM at a top bank, they will get an excess of interviews and get what they prepared for. The bank isn't the limiting factor, especially if they prepped to recruit for PE in undergrad.

edit to reduce off-topic / tl;dr for OP: the expected value of UMM analyst isn't more than a top bank & kinda reduces optionality. take PE if it's your dream fund, otherwise it's more common to do IB first (unless it's MF)

 

I’m just illustrating that competition is fierce + PE recruiting can be a shitshow. A lot of hardos that work in those hardo groups will still end up in MMPE despite all the prep. There are outlier groups that HHs will cater to but besides those it’s pretty much the same. Also will say I have seen the ASO recruiting sheet at an UMM and they do tier list of candidates with driving factor being school + group. N=1 but it was interesting to see

 

ISQ's analyst program also pretty great in the infra space. Would call them a UMM with the recent $15bn fund

 

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