Could I still get into PE with this type of experience?
I'm currently a junior at an Ivy-equal target school (think Stanford, MIT, Chicago, Duke, etc), but it seems like I got dinged at the 2 BB banks I interviewed with for IBD SA. I recently got an offer at this medical business development company that starts medical businesses from scratch; the internship seems like a mix of mgmt consulting and venture capital. One of the head guys there also told me that they can hire me full-time if I do a good job. I'm also genuinely interested in seeing if med business development is a career path I'd like to pursue. But would it be possible to still get into PE (not necessarily megafunds, but regional boutique/MM funds)? If this matters, I have a great connection to a guy at Bain Capital.
bump bump bump
sounds applicable to VC/Growth equity type stuff. Skillset isn't as applicable for leveraged buyout type funds.
any other thoughts?
Say I wanted to apply for BB IBD as a full-time analyst next year, could I still have a decent shot if I didn't intern at as a summer analyst?
bump bump bump Any other inputs?
I think the consensus from your earlier post that was almost identical is that it could be possible, but it would be extremely difficult.
The big thing you add as a junior in private equity is understanding how to model and analyze a buyout transaction - no one is really interested in your operational skills until you are more senior.
MIT, Puretech? Good environment, smart people. Transition to IB or PE will require networking and selling people on your overall profile, not necessarily your Puretech experience.
What did you end up deciding?
Sounds like a good Corporate Development-related experience. A lot of people go from IBD to Corporate Development, so I think that if you can stay on full-time with this firm for a year, and then lateral to the Corporate Development team at one of the healthcare firms you'll be advising, I think you could definitely get into a solid MBA program and then get into IB as an associate.
You might also find your way into IB after a few more years in Corporate Development, especially if you can work on a few M&A's internally.
Can I still get into PE with this type of experience? (Originally Posted: 02/01/2014)
I'm a junior at a target school and recently got a summer internship offer from a medical business development company in the southeast. I know the best way to get into a PE fund is through doing a BB IBD internship, getting hired there as a full-time analyst, then using the name/experience to get into a PE fund. However, it seems like I got dinged for the 2 BB banks I interviewed with for SA. One of the higher ranked people at this company also told me explicitly that if I perform well at my internship, they'll hire me full-time. I'm also genuinely interested in seeing if medical business development is a career path I'd like to pursue. This internship seems like it's a mix of management consulting and venture capital. Thoughts? Could I still get into PE (even regional boutique/MM PE funds) if I were to work at this medical business development company?
bump bump
Unlikely.
nope
What about for growth equity-type jobs at PE firms?
Like I said unlikely.
There's a very specific path to PE. There is a very small contingent of people who get into PE from other paths, the most substantial of these would be from top tier consulting (particularly McK). Not part of that subset is a medical business development role.
You can try to rationalize why it is more applicable than people give it credit for, or you can acknowledge the limitations of such a role and make a fully informed decision of whether you'd be content in that field and would like to proceed in that role and virtually eliminate a future in PE or whether you're hell bent on PE and need to assess other options.
It will be tough but I don't think it's impossible. Definitely don't pass up on your only offer for this reason though.
What about corporate development specifically for medical companies?
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