That would be inaccurate. They take almost exclusively Harvard/Wharton kids, but I know a guy from harvard with a GPA that just rounded up to 3.7 who got their PE internship.

Is it the hardest to get, assuming that you have a 3.7+ from Harvard or Wharton? I'd argue that getting an internship at D.E. Shaw, Goldman PIA, or a number of other elite investment firms (QVT, Cerberus?) is probably similarly difficult. Each of those places (particularly DE Shaw) looks for something different, so different "top-tier" people might be a better fit for each...but yes, in the business world, there is probably no internship that takes people that are on average more qualified people than Blackstone PE. Just a few other places that take similarly qualified people.

 

HARVARD GPA IS ON THE WEB SHOWING AN AVERAGAE GPA OF 3.6, 80% GRADUATING WITH HONORS AND ONLY 15% OF THE STUDENT BODY BELOW A 3.00 GPA. WHARTON HAS A BRUTAL CURVE WHERE APPROXIMATELY 20% ARE WITHIN THE "A" RANGE. THE BELL CURVE AVERAGES 2.7. HOW DO YOU COMPARE THIS WITH OTHER SCHOOLS? IF YOU WANT TO GO INTO IBANKING, OR WORK ON WALL STREET THEN HARVARD, PRINCETON, YALE AND STANFORD WOULD BETTER BETS DUE TO THEIR INFLATED GPAS.

 

I only know a few people that are in analyst positions at the likes of Blackstone, carlyle, TPG, etc. and while one is from Penn, the others are not. I don't know if I have perfect information here but I would think breaking into an analyst role as an undergrad should be approached the same way you would for IB....network, network, network.

XX
 

From what I gathered so far, it's very random. I have seen people go to work for BX PE for example with just one summer analyst in IBD or FICC under their belt or with one MBB internship. Silver Lake seems to be the same, but from the web site all their analysts graduated as you noted from Wharton and most of them had internship experience at a Top 5 BB (GS, BarCap etc).

I guess the only thing that is clear is that the guys who did get the offers all graduated from very good universities, ie Wharton, Harvard, LSE, LBS, Oxbridge, etc.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Blackstone PE is incredibly selective. Even at Penn they only take 1-3 maximum in a year–and that in a decent year. M&A takes quite a bit more (8-10).

Let's just say attending Harvard, Penn, LSE, etc. and interning at a top 5 BB is no guarantee at all. Hundreds will have done the same.

 

As above posters mentioned, recruiting is not exclusively from Wharton. However, if you're trying to get in from somewhere that they don't do campus visits/resume drops via career center, it will be incredibly difficult to get noticed without some solid networking. Those online resume drops through firm websites can be a bit of a black hole where a resume goes to die, especially in a tough year where there are plenty of competitive candidates through SA, referrals, and OCR. Like seedy underbelly said, PE takes only a small # each year.

Having strong internship experience should help you when networking, although I would try to find some better connection than a cold call if possible.

 

The above posters are all right. Blackston PE analyst is one of the toughest jobs to get coming out of college. The vast majority are top students from harvard and wharton, who had great internships, extracurriculars, and absolutely nailed the interviews. A few kids from other schools like princeton and yale have managed to get in there, but they're in the minority.

Blackstone M&A and restructuring cast a much wider net in terms of schools, and they hire more people. The former recruit at all the ivies+top state schools like berkeley/michigan/unc/uva/ut austin.

 

sorry, those numbers are for full time hires.

Specifically for PIA, I do believe they take a summer analyst every two years or so, but I think those jobs usually don't turn into a full time offer (just a summer internship for connections). it does happen sometimes, however.

also, btw, it is once every ~ five years because it is an ad hoc process and they usually only take a class of 4-5 analysts with IBD experience.

 
tothedeath:
I know someone who's friends with a BX PE analyst. All 3 summers got offers and signed with BX. It would be a pretty dumb move to take Moelis over BX.

They only hired 2 summers. That's fact.

You're wrong. 2 in NY, 1 transferred to London.

 

The numbers in this post are way off.

For NYC BX: 6 in M&A (5 got offers, I believe 3 - 4 took) 5 in RSTR (5 got offers, I think 4 or 5 took) 2 in PE (1 got offer, Accepted)

In Boston, 2 worked, neither going back. In London, 1 M&A, not going back.

BAAM / GSO / Real Estate do recruit full time.

 
nyukid84:
The numbers in this post are way off.

For NYC BX: 6 in M&A (5 got offers, I believe 3 - 4 took) 5 in RSTR (5 got offers, I think 4 or 5 took) 2 in PE (1 got offer, Accepted)

In Boston, 2 worked, neither going back. In London, 1 M&A, not going back.

BAAM / GSO / Real Estate do recruit full time.

Agreed. I think people were getting mixed up between people who interned in 2008 (graduating and starting FT in 2009) and those who interned in 2009 (graduating and starting FT in 2010).

Your numbers look pretty close. There were 7 total in M&A, with maybe 5 or 6 accepting, if I'm not mistaken? Not absolutely sure about the number who accepted, though.

I think everyone who got an offer the year before in M&A accepted, though. 6 for 6 or something like that. Similar in restructuring, and 3 for 3 in PE.

 

I did not hear this from the person directly but I am confident that the total comp over three years is about equivalent to what a BB analyst would make if given top bonus for three consecutive years in a good market, and it is guaranteed.

 

They will, after the IPO. They might even get more than props, if they can ever get out of the office. Pray for a strong market.

The Epicurean Dealmaker

The Epicurean Dealmaker http://epicureandealmaker.blogspot.com
 

But that can't be right. I would make an educated guess b/t 115K-140K total compensation range for undergrad newbies. My basis,

..I know a guy who joined as an associate last year, he wouldn't tell me his base, but has a Stanford MBA and CFA charter. First year out of grad school, his bonus was 122K, pre-tax. He also has a small pillow under his desk equipped with a small overnight duffle bag, portable tv and dvd player. He also has a bathroom just outside his office, equipped with showers and hand towels. Get it?

He might be making alot of money, but he sure isn't spending it. REMEMBER THIS: There's a reason there is a shower in arms reach of your office if you are ever granted that much privilege. Because your ass will not be going home...

"Cut the burger into thirds, place it on the fries, roll one up homey..." - Epic Meal Time
 

They were very tough and very selective. The guys I went against were all 3.8+s with very high SAT and some prev WE (most were Wharton/Harvard). Even the final rounds were very technical with the junior bankers- senior guys grilled me to death.

Overall- I thought I did well. At this point though, I am sure it just came down to fit and who they liked most. I was put on hold, but the 2 guys they took accepted offers immmediately.

 

Neque quo consequatur et id. Rerum quia quisquam hic dignissimos ipsa laudantium qui. Assumenda labore corrupti qui eum vero. Est necessitatibus saepe amet officiis possimus sunt. Expedita eligendi reiciendis ut quia cumque modi veniam. Et ad rerum voluptatem dolores.

 

Eveniet esse asperiores delectus consequatur qui culpa. Quis numquam animi asperiores. Id id illum nihil commodi amet. Adipisci animi omnis recusandae vel eaque. Magnam est corrupti qui molestias aliquam dolorum.

Pariatur at commodi officia accusamus excepturi quis. Numquam optio ea quod dolores nesciunt delectus vel voluptatem. Officia enim corrupti nemo quo corporis distinctio illo. Esse harum ea vero rerum repellendus.

 

Ut neque doloremque vero accusamus aperiam rerum aut quia. Distinctio eius ad sit vel itaque aut sed est.

Temporibus provident quis in explicabo ut. Delectus expedita dolorem facilis repellendus eaque eum officiis consequatur. Ut repellat in temporibus eligendi illo deserunt.

Velit ipsum facere repudiandae qui tenetur eum harum. Sequi maiores quo repudiandae similique qui ex. Numquam aut ea eligendi numquam fugit eum rerum. Id et magnam ut et dolores. Sint et voluptas ad enim explicabo. Incidunt ut qui labore enim. Ut quos cumque fugit omnis quia voluptatem.

Sit nostrum incidunt ipsum. Facere maiores consequuntur ratione cum fugit dignissimos similique. Possimus eligendi et maxime distinctio id atque.

 

Molestiae consectetur eos cupiditate. Non sit a dolores ipsum. Omnis et natus et eaque. Animi blanditiis qui non accusantium. Cum fugiat amet eum quas.

Officia veniam consequatur aut commodi. Aliquam ea eum dicta ut pariatur voluptas suscipit ut. Fuga dignissimos enim qui laboriosam et.

Sit aut cumque natus sapiente doloremque consequuntur quod. Consequatur inventore earum neque amet qui. Beatae voluptatem reprehenderit est harum soluta occaecati. Ut perspiciatis dicta non nihil.

Unde culpa quas exercitationem ut voluptatem voluptas dolor in. Sit tempore est non sit repellendus eius. Eligendi adipisci dolores dolorem magni non quo voluptates. Voluptate quas est dolorem debitis necessitatibus quae. Possimus molestiae nulla distinctio consequatur earum veniam earum sunt. Laborum deserunt illum voluptatibus quibusdam adipisci voluptates voluptate.

Career Advancement Opportunities

March 2024 Private Equity

  • The Riverside Company 99.5%
  • Warburg Pincus 99.0%
  • Blackstone Group 98.4%
  • KKR (Kohlberg Kravis Roberts) 97.9%
  • Bain Capital 97.4%

Overall Employee Satisfaction

March 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 98.9%
  • KKR (Kohlberg Kravis Roberts) 98.4%
  • Ardian 97.9%
  • Bain Capital 97.4%

Professional Growth Opportunities

March 2024 Private Equity

  • The Riverside Company 99.5%
  • Bain Capital 99.0%
  • Blackstone Group 98.4%
  • Warburg Pincus 97.9%
  • Starwood Capital Group 97.4%

Total Avg Compensation

March 2024 Private Equity

  • Principal (9) $653
  • Director/MD (21) $586
  • Vice President (92) $362
  • 3rd+ Year Associate (89) $280
  • 2nd Year Associate (204) $268
  • 1st Year Associate (386) $229
  • 3rd+ Year Analyst (28) $157
  • 2nd Year Analyst (83) $134
  • 1st Year Analyst (246) $122
  • Intern/Summer Associate (32) $82
  • Intern/Summer Analyst (313) $59
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”