So I am currently halfway through my Summer Internship at a BB IBD in London. About two weeks ago, I have been approached by a PE headhunter asking if I would be interested in a networking event with two top MF's. I have sent out my CV and got an invitation.
I really enjoy the internship so far, like my team and would love to come back next summer, but obviously I am also interested in improving my network and keeping open as many options as possible.
However, I do not really know what to expect. Is this event more of an informal networking session to learn more about the industry and make first contact with PE professionals or is it more of a formal first step in the PE recruiting process/should I expect to be grilled?
Given that I am working long hours and the event will be in a couple of days, I have only limited time to prep. Yet, I obviously want to make a good impression, regardless of the context.
I have sort of an unusual background and WSO has already helped me significantly to break into the industry. It still feels kind of unreal to have made it so far, based on nothing but hard work throughout the last years, but I have to admit I sometimes feel a bit out of place among all the T1 target school kids with outstanding CV's in their early twenties (I am approaching my late twenties now as a SA).
In other words, once again I would like to draw from your collective wisdom WSO.
Cheers
Push
I do not have much clarity into the London PE Analyst recruiting process, but I think your approach here should be quite obvious. If this is a similar role to the FT PE Analyst roles at the likes of Silver Lake, BX, KKR in the US, then you should approach it similar to a FT IBD Analyst role, except with a more knowledge into LBOs and Private Equity.
The networking event, I would be very surprised if it would involve grilling. This is most likely a cocktail event and a chance for the firm to get to know the candidate pool and for you to leave an impression. The firms should also be well aware that you are all working hours for your current IBD internships. The grilling should come after this when candidates for interviews are selected. And for the interviews, you would most likely need to be more prepared than the average FT IBD interviews, given the focus on PE and LBOs, which you still have time for. At the very least have a good understanding of what the firm does, various groups, and their European strategy is. The networking session is also an opportunity for you to ask good questions.
It is alright to have a chip on your shoulders due to your unconventional background, but you approach packaging and portraying yourself as more mature and committed to this field/opportunity than the other T1 target school kids. Simply said, own up your background and package this as a strength and point of differentiation. Once you're in the interview room, the playing field is leveled and it is so much easier to convey your enthusiasm and what you can bring to the table face to face. If the unconventional background really is a problem, I don't think your resume would have passed the HR/recruiting team's screen.
The one thing I would point out though is you should understand what the policies with these PE firm's analyst programs are, especially in regards to MBA and career progression. If they do still end up requiring an MBA down the road (even after 3+ years at the firm as an associate), that may not align with what you would be willing to accommodate given your age. Just be sure to get a sense of this before jumping knees deep into the process with these firms. Though this may be different from their US office counterparts.
Either way, good luck with the rest of the internship and make sure that you are at least covering your bases with your current BB and ensuring your return offer (keeping up work quality and keeping outside recruiting discreet). It is good to be grateful for what you currently have achieved.
Thanks a lot for your insight and taking the time to write this comment. Really appreciated!
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