FT IBD Offer at hand, Need Advice next..
Thanks in large part to the sage advice on this site, I was able to land a FT offer starting next summer. Building on that, I'll keep this direct, as I have several specific questions regarding "what's next"--My ultimate goal being PE.
1) I haven't been given a group yet, but assuming it's a strong group with good deal flow, is it worth lateraling to a BB for PE recruiting, after getting some time / deal experience on the desk? Will I still get PE looks at a MM IB in NYC, or is this simply not the case?
2) If it is worth lateraling, then:
a) when? (time of year): I presume most analysts leave around June-July
b) how? (strategy): I attend a top 4 Ivy..do I reach out to alumni in the spring, before making the move? Do I target BB internal recruiters directly and get on their radar? Both?
c) I certainly want to target top tier shops...GS/MS/JPM. For these places, what are the numbers like, ballpark, for how many laterals they take on? Is it completely dismal for Analysts from MM IB to make the move, or is it fairly common?
3) Assuming I successfully lateral after my 1st year, where would that put me in terms of PE recruiting? I presume I would have to do a third year, since most analysts are PE interviewing January-March of their first year. Is this "obstacle" significant at all, or is it common to recruit as a 2nd year?
Probably more questions than I originally expected, but thanks very much.
Depends on the type of PE fund you want to go to. If you've got stars in your eyes about KKR or the like it may be tougher than from a BB. I have friends in other BMO groups and they place very well into solid shops that aren't top tier status.
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