Why PE as a career path in general?
Hello,
I know it is rather a broad question (I have no experience nor a particular knowledge about PE) but I guess I want to know why people go to PE given quite harsh hours and etc. What is it that actually interests you?
Thanks
1) Learning about tons of different businesses, business models, etc.
2) Doing deals
3) Managing portfolio companies
4) Making more money than any of my friends
Bonus: My hours really aren't really harsh at my current firm (~60h most weeks)
Thanks. Can you elaborate on your 3rd point? Managing companies - what does it entail? Regular chats with management?
Also elaborate on 4th point :)
4th point a bit tongue in cheek haha but I think anyone would be lying if they said they didn't choose a PE career at least in part due to the pay vs. other industries. I can't think of a single person I went to HS with who's making $250k+ at 25, shallow as that sounds to say. Of course I have friends who stayed in IB who are making a little bit more than me today...
On managing companies, my firm is pretty operationally focused. We tend to buy founder-owned businesses that are early in their journey of becoming professionalized so there's a lot of portco work that comes along with that vs. a traditional late-stage buyout. A lot more in the weeds of making decisions, determining strategy and driving value creation, etc. Yes talking with management at least weekly and helping them prioritize different projects, offering resources and support where needed.
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