Should I take my Startup PE Return Offer, or Try For Banking?
I've interned abroad at a PE firm this summer ($2.5B AUM, 50-100 employees) and was fortunate enough to get a return offer. I loved working here and would not mind coming back - but I feel almost obligated to go work at a large institution for a few years (I-Banking wherever I can get in). Even some of my colleagues recommend that I spend some time at an institution.
The thing is, I really only want to do banking for the skillset & the opportunities - specifically to move into the PE space at some point. I don't actually care to be in IB and living that sort of lifestyle.
I also do not have the sort of background or network to break into institutional PE out of undergrad, so I'm not really shooting for that. Could really use any advice.
Background: Non-Target 4.0 Major, 3.5 Overall GPA. Ton of leadership positions and decent internship experiences (prior to this one). Have been described as one of the top Finance students by some professors, but 3.5 gpa pinpoints me as average student at nontarget (not complaining just explaining).
Most interviews of mine come from networking with alumni - no luck with OCR or online apps.
Thanks in advance guys.
I would take the return offer. Sounds like a great firm and opportunity.
FT IB offers are really difficult to get because there's 1/10th of the spots for SA, but the pool of candidates doesn't get much smaller. Especially if you're looking to do upper MM/megafund you'd need to go to a BB, but your GPA as you said is average. Would be a huge hustle, can't see it being worth it if you don't really want IB.
Kill it at your current firm and lateral to a different PE shop as associate/VP level if you want to. Congrats on the offer either way
Thanks for the advice! Do you know what implications it might have on MBA applications?
I'm guessing that US institution > Small group PE shop for top MBA schools
$2.5BN is not that small. Does it have a name brand or alumni from top b-schools? In the absence of weird circumstances, I would take it.
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