Jumping IB and going right into PE post college

Has anyone jumped into PE post college and skipped IB? If so and even if you haven’t what are your thoughts on this? What are the best junior summer pe internship programs and which’s ones hire the most junior interns as full times? Lastly, what are exit ops usually like for people who go right into pe?

 
Best Response

I see you're getting MS, but I also believe this is a fair question. I have friends who went into supplementary PE directly out of college (E.g. FoFs), but I imagine you aren't even remotely interested in that type of experience. I will list out the three primary ways I see it playing out, at least in my eyes:

  1. You receive an offer at a top PE firm. This is incredibly rare, and odds are if you start a WSO thread on direct access to PE positions, you aren't in a position to even get an interview.
  2. Option 2 is that you go into a position at a lower MM or just smaller MM shop in general. Typically, you will not have the skills necessary (gained through IB and or M&A consulting) to really add any value. You will really be doing business development work and or general admin stuff, if not strictly cold calling. You will not gain good exposure to the deal process, and your options down the road will be limited.
  3. You hit the jackpot - I have the potential to fall into this category. Long story short, I worked for a TINY PE shop that may be looking to grow. Through working harder than anyone else, I was told that when I graduate, if they are in the correct financial position and look to expand, I will be offered a spot. When I voiced my concern about not having the necessary skill set, they mentioned they would pay for a 3-6 month training course in NYC.

Those are the primary ways I am familiar with that allow individuals to go straight into FT PE

 

Gotcha thanks but how do you break in full time? I hear if you do IB for a few years it is still hard af to get into pe. Appreciate all the guidance - I wanna jump into pe but don’t know how to do it with a high gpa from a non ivy

 

You are essentially worrying about how to make partner before you make MD. My advice: 1. Accept that if you want to work at a decent PE shop, you wont be for a long, long time (if you want good exposure and to develop a real skill set) 2. Find a spot in IB or Consulting if you really want to make PE happen. If you aren't willing to sacrifice a few years, you aren't PE ready 3. Network with anyone you can who is already in PE FT

I don't mean to sound like a dick, but you are trying to make too big of a jump. I wanted to do the same thing for a long time, but it just isnt a viable option (except for extreme anomalies)

 

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