Chancs at Top P/E or VC
I need some help...I'm a first year analyst getting ready to apply to PE and VC gigs, but I am not sure about my chances at getting in. Here are some of my creds:
-Analyst in the top / most productive industry group at large mid-market bank (think Cowen, TWP, Jefferies...etc) but with limited deal execution experience (to be expected given markets)
-Developed/one of first employees at venture backed Web 2.0 website (on the side)
-Summer analyst in equity capital markets at BB
-Attended target school (but not Harvard, Stanford, Penn, Princeton...etc) and graduated with 3.7
My question is what are my chances of getting interviews with top tier firms, not necessarily the Blackstones of the world, but the likes of TA Associates, Hellman Friedman, 3i, Battery Ventures...etc? Will headhunters give me the time of day if I tell them I am targeting those firms or should I be setting my sites on smaller PE and VC firms? Any advice? Thanks.
From my discussions with headhunters and on-the-job experience at a major BB, you need at least 2 years (ideally, 3 years) experience before you're ready for PE. Though our hours are still long, the "amount of finance experience per hour" (for lack of a better metric) is much lower than it was in boom years like 2006.
On the other hand, if your group has been cranking out LBO analyses every week, then you might well be ready after only 1 year. That has not been my experience though, nor the experience of others I know. Talking to a headhunter is a good way to get a feel for your readiness.
So you're in the TWP Tech group?
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Isn't it normal to begin recruiting in the middle of your 1st year as an IBD analyst (then you would join the PE/VC shop after 2 years of experience)? Anyway, what are the chances at a place like Summit, TA..etc given the listed creds?
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