Investing roles for H/S MBA with limited pre MBA experience
I'm heading back to school next year and was hoping to get some advice on my situation.
My background: I initially did two years as an analyst at a MM PE firm. Closed 2 platforms and got ok deal experience (limited training and had to figure things out by myself). I ended up being managed out in my 2nd year and decided to pivot to an operating role. I then spent ~3 years in a strategy role at a high growth tech firm, mostly doing business cases (ie helping execs size market or product opportunities), as well as a few short-lived m&a processes that didn't progress to LOI. Increasingly felt pigeonholed in my current role, so I decided to apply to MBA programs and was fortunate enough to get accepted into H/S.
I'm now looking to jump back to an investing role, and I'm trying to get a sense of what jobs I can recruit for. I don't have the typical 2+2 background; I didn't do an analyst stint at a BB/EB, and I didn't do a typical associate role, which I'm assuming is a disadvantage for buyside recruiting.
With that in mind... are there any firms or verticals (eg growth, venture, etc) that would be more receptive to someone with my background? I have heard that pre MBA experience is everything for areas like post MBA PE recruiting, but I'm trying to understand if I will be helped by the fact that a) I'm at one of the top MBA programs, b) at least have some early career investing experience, and c) would likely not target traditional buyout firms, and instead focus on earlier stage strategies or niche opportunities like family offices.
Additionally, would it be a mistake to recruit for MBB (eg Bain PEG) as a backup plan? I'm not interested in doing IB - I did a summer internship during college and the and hours / culture were awful, hence why I decided to go straight to PE.
Any thoughts / suggestions would be appreciated!
Based on the most helpful WSO content, here’s a breakdown of your situation and potential paths:
1. Pre-MBA Experience and Its Impact
2. Targeting Growth, Venture, and Niche Opportunities
3. Leveraging Your MBA Program
4. Backup Plan: MBB (Bain PEG)
5. Avoiding IB
6. Key Takeaways
Your unique mix of experiences, combined with the H/S MBA, positions you well for non-traditional paths in investing.
Sources: 34 year old day trader to investment banker, MBA – Invaluable experience or incredibly overrated?, Seeking advice - Decade of experience in niche sector and laid off, Most academic style of investing that requires the most thought?
You will be able to find an investing role coming out of either. I’ve seen plenty with no pre MBA finance experience do so. Will it be tough? Yes. Will you go straight to VP at a MF? Probably not. But an associate or senior associate role at a LMM or MM firm should be doable. Especially if you target some with operating focus. Public markets accessible yoo
Unfortunately, not in today’s market. Current MBA and on the first day of orientation, career services was very explicit: if you don’t have a traditional 2+2 background, don’t expect to break into investing. You must have a plan B. So many classmates with 2+2 backgrounds this year have struggled breaking back into the industry.
Unfortunately might not be what you want to hear - but ask any MBA student in the current environment. Few years ago you could walk in with any ~finance experience and snag a role…unfortunately the market has turned on its head.
Damn this is exactly my fear. I thought about deferring in the hope that the market improves sometime in 2027/2028, but it doesn't seem like that's a viable option. If anything, I think it could get worse going into next year given ongoing geopolitical uncertainty.
MBA pipeline feels like my last opportunity to pivot. It has been really hard getting any traction for lateral interviews in the workforce, so I'm terrified of finding myself pigeonholed again in a role that I have to settle for post MBA (after which there are no more "reset" cards to play).
Imo it depends. Currently at a M7 and see people without IB->PE background breaking into IM and PE/VC, albeit not all the seats are amazing. The people that are successful typically have one or the other (IB or PE or something adjacent). You should have a good shot give your PE background and the H/S branding and network.
You'll be able to find opportunities, but you have to be willing to accept those opportunities. Instead of a MF PE role in NYC, you might be looking at MM or LMM roles in a tier 3 city. There are investing roles in almost any city, but then you'd need to be willing to live in that city until the overall market picks up, then try to lateral to a city that you'd want to be in long term. It's probably not what you want to hear given the start to your career that you've had and the type of MBA you're getting but looking for jobs you think are beneath you is how you'll end up in an investing spot until the market picks up.
When do you (and others) think the market will pick up? PE hiring market has been rough since 2023 to my understanding. I personally don't think there will be a PE recovery through at least 2027. Maybe this is a permanent downsizing of the PE industry. I hope I'm wrong though
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