I’m doing a (virtual) internship with an American BB this summer and I wanted to know what is the best traditional opportunity for a Brit in London, considering MF PE is pretty much off the cards.
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Are you referring to analyst programme recruiting for PE or PE recruiting after analyst years in IB?
No it’s not off the cards. My bank had three brits exit to MF/UMM PE over the last 2 years. And it’s not even a top BB. Anything is possible.
Pe will certainly be harder, but is still doable.
I don't think MFs are as impossible as you make it sound, although definitely true that it is a lot more difficult in London to break into an MF than New York, just due to the numbers (smaller number of bankers, even smaller number of places available).
However, there are definitely Brits and others without any additional European languages at all the BBs (even some of the 'low tier' ones discussed on this forum) who land offers at MFs. You have to remember there aren't even that many Brits in London IBD - most of them are continental Europeans, so it would be natural to see more Europeans in London PE.
How much of an advantage is a European language really?
Also is there a difference among them? I speak German and wonder how that stands.
Why on earth would you being British imply that MF PE is "pretty much off the cards"?! There are no traditional opportunities based on your country of origin. It's a meritocracy--you work for what you get.
Unless, of course, you're equating being British with being monolingual, which is an odd assumption as is. In that case it might be harder but funds are looking for much more than just language ability.
Whilst some funds pretty much never hire brits, some hire Brits frequently - especially those that have geographical coverage - such as Carlyle. More realistically speak to headhunters and position yourself as the brit that wants to do UK large cap deals. I’d recommend you really feel ready when you start interviewing as you don’t want to miss out on that 1 out of 5 spot in MFs/UMM that will go to brits per year.
Are the grade requirements for MF/UMM the same as for IB?
First is preferred from what I see
What do you mean by ready?
Well prepared for interviews
What’s the reason they don’t hire brits? Where do brits go? Thanks!
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