Hey all! I have a question that I wanted to get some additional perspective on. I'm a junior at a non-/semi-target school and recently got an offer from a small, lower-MM PE firm for the summer. Pay is pretty competitive, and they said that I would be doing a lot of industry research and helping out with deal sourcing as well as some modeling if I can develop those skills before summer rolls around. From what they said, I don't think I'll just be sitting around making cold calls all day. The firm is small but growing, and they made it pretty clear that if I did a good job over the summer, they would take me on full time right out of undergrad.
Right now I'm waiting to hear back for a BB IB position, and I have one more superday coming up with another firms S&T, so this is the only offer I have at the moment. To me, this seems like a really exciting opportunity to get some buy-side experience as an undergrad as well as secure a full-time offer. I liked the people that I've talked with, and they seemed committed to helping me develop skills that will make me more useful to the firm further down the road.
How is a PE undergrad internship viewed? I've read some similar threads about going PE directly after undergrad, and it seems like the main issue is not getting a lot of modeling experience relative to IB. I plan on doing a lot of modeling practice before the summer rolls around so that I can take on as much responsibility as I can if I do take this position. I just wanted to get some more perspectives on this before I make a decision.
You definitely want to make sure that you'll be doing more than origination work. Some PE firms have two separate. If get stuck in origination, you won't get much experience with the transacting side, which is where you want to be. If they can promise you that you'll get the opportunity to work directly with deal teams, then that's more attractive.
Does the firm have any history of hiring right out of undergrad? If not, I'd be skeptical about what they're offering.
You also have to be dead set on doing PE. IB will give you a lot more options. Starting in PE may limit you a bit. Then again, I've had some buddies who interned at PE shops as a junior year and found FT offers in IBD. So nothing's a hard and fast rule.
Thanks for your input! Yeah, that was my major concern too. When I was talking with their current analyst, he said that basically, I'll be being trained to do everything that he does, and there would be a lot of support from him and the more senior guys on that. That's why I want to get up to speed over next semester, so I can be more useful to them on the transacting side of things.
They hired their current analyst (the guy who I've been talking with the most) directly out of undergrad last year, and he seems pretty happy with his position, and they've just hired another person who just graduated.
PE seems pretty exciting to me from the outside looking in which is why I want to take this position. I don't think I'll know for sure if I'll enjoy it until I spend some time working, but I think that's true of anything. I have enough time to wait until I hear back for the IBD position, and if I get that, I think I'll have a tough decision to make.
Sed ratione quia corrupti magni aut atque est. Temporibus distinctio sequi nihil aut omnis voluptatem. Excepturi sint adipisci impedit voluptatem voluptatum sapiente et. Veniam libero illum fugiat itaque qui.
Nam natus quisquam aut dolorem autem. Alias harum architecto beatae quas. Ullam quia ratione sint ratione. Molestiae officiis natus at doloribus dolores illo expedita. Repudiandae sint quia et ea aut velit. Ut nihil est natus minus voluptatibus quibusdam quia facere. Consequatur provident eos nihil quae voluptatem aspernatur.
Natus natus officia pariatur nihil facere sunt qui harum. Dolore optio dignissimos facilis facere et. Quisquam nam quas et at.
Voluptatem corrupti qui rerum. Ipsum maxime suscipit et quia quia dolores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...