PWM to PE

DoYouLikePhilCollins:

Can someone give some insight as to how to go from an Analyst position at a BB PWM firm to a PE firm (doesn't have to be vanilla PE, it can be RE PE or whatever)?

What's required? MBA? MAcc? CFA? IB exp.?

I'm hoping to make a move in two years...trying to plan accordingly.

Phil Collins

Hate to break it to you Phil Collins, but, your best chance is to pursue an MBA from a TOP 10 School. There is still a career detour involved,i.e. it may actually take you more than 2 years, unless you come from great wealth and connections. Otherwise your chances are pretty slim.

While not completely impossible, you should, in fact, at present at this BB PWM (I had quite some difficulty making that transition) try to network as much as possible. NOT with the private bankers, but with anyone in the alternative investment universe that you may have dealings, e.g. Client X is thinking about shifting additional assets into alternative investments, take it as an opportunity to KNOW those people who market alternative investment products to your client as that would greatly enhance your chances of internal transfer.

Should networking fail to land you where you want, going back to school is always the best option for career change. And when I say Top 10, I mean Harvard, Wharton, Columbia, etc. A GMAT score of 700+ would help. PE firms usually recruit ppl with investment banking experience. And where or how would you do that? By going to one of the Top 10, you increase your chances of getting a (i)-banking job greatly increase.

PE firms tend to recruit junior bankers as they have modeling skills as well as transactions under their belt. Those skills come in handy when screening for private companies that PE firms either want to divest and sell or acquire.