Mega Fund Placement out of BB LevFin

DealTeam3's picture
Rank: Monkey | banana points 42

If I am an incoming analyst at JPM/BAML/CS in the respective Leveraged Finance Group. Do I have a good chance in attracting head hunters at Mega-Funds? Assuming semi-target state school, 3.75+ GPA, CFA Level 1 completed, and a 720+ gmat score. What else can I do to increase my odds for PE placement outside of getting extremely involved on any potential deals/projects?

Any advice is much appreciated!

Comments (16)

Nov 6, 2017

Those LevFin groups place well. You'll do fine but focus on doing your job before you start thinking exits. Just perform, meet people around the bank and grind, and you'll be fine. LevFin is the only CapMarkets group that consistently places into PE and those are all really strong LevFin groups - BAML and JPM much more than CS which is definitely on the decline.

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Best Response
Nov 6, 2017

These are good groups, and you'll get some at-bats at the mega funds - not as many as your financial sponsors group peers, but still.

A few points additional here:
- unfortunately, PE firms are even more concerned with academic pedigree than banks. So your state school background will hamper you far more than your IBD group / firm (even with good GPA, etc.)
- working your ass off from day 1 is generally the best approach
- for megafunds especially, networking has limited value. This can be frustrating compared to banking, where there were lots of ways your could improve your odds. Since the main PE recruiting process is so condensed, it's kind of a crap shoot

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Nov 7, 2017

Would you recommend that I spend the summer working extremely hard, then trying to lateral into the Financial Sponsors group? I have seen a decent amount of people on Linkedin who have lateralled into either the LeveragedFinance or into the Financial Sponsors groups at Bulge Brackets. Thank-you, that was good advice!

Nov 8, 2017

You have to get the offer first. Being well liked in your group is probably the most important thing.

For megafund - for you, given state school background - I don't think sponsors vs. LevFin will be the deciding factor. A handful of folks with your background have made it from either group. I think the deciding factors were probably a mix of harder-to-discern intangibles:
1. How well liked in group / bank
2. Unknown personal connections / alumni connections
3. Modeling like a champ / knowing the finance cold
4. luck

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Nov 8, 2017

Thank you, that was very helpful. I'll definitely consider all of the above!

Nov 8, 2017
pe-b1tch-hehe:

You have to get the offer first. Being well liked in your group is probably the most important thing.

For megafund - for you, given state school background - I don't think sponsors vs. LevFin will be the deciding factor. A handful of folks with your background have made it from either group. I think the deciding factors were probably a mix of harder-to-discern intangibles:
1. How well liked in group / bank
2. Unknown personal connections / alumni connections
3. Modeling like a champ / knowing the finance cold
4. luck

disagree... if you are a star analyst you'll get looks at mega funds. you place way too much weight on schools. yes important but not as important as you make it seem. recruiters/VPs will call your staffer, do you really think the conversation is going to go "hey this analyst is awesome but he went to a state school so don't hire him."

i don't work at a mega fund but i've seen first hand from my peers coming from state schools placing all over into the mega world.

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Nov 8, 2017

Thanks for the note, very helpful insight!

Nov 8, 2017

I'm just saying megafunds are more prestigious conscious than banks. It happens, but you won't get as many looks as you otherwise should. Is it still doable? Absolutely.

Nov 11, 2017
Whiskey5:

recruiters/VPs will call your staffer, do you really think the conversation is going to go "hey this analyst is awesome but he went to a state school so don't hire him."

Maybe i am stupid, but do these conversations happen often ?
"Hey mate we are thinking of poaching some guy from your team, is he any good ?
Regards"

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Nov 11, 2017
Zafrynex:
Whiskey5:

recruiters/VPs will call your staffer, do you really think the conversation is going to go "hey this analyst is awesome but he went to a state school so don't hire him."

Maybe i am stupid, but do these conversations happen often ?
"Hey mate we are thinking of poaching some guy from your team, is he any good ?
Regards"

yep. not every week but more often than you think. my friend is a staffer so i hear all the stories

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Nov 11, 2017

Lets say you went to HYP and work at GS/MS but only have a 3.5 GPA.. is this going to be an issue for MF recruiting? Or if you perform well / have good recs / interview well you'll be fine?

Nov 13, 2017

In this case, group will be more important. 3.5 from HYP is enough of you're smart with standard prestige background.

Nov 11, 2017

If you're LevFin I'd target a legit credit HF over a mega fund

May 1, 2018

CS LevFin does all modeling while JPM and BAML is more market related. CS LevFin places well at Mega Funds in the private equity branches. BAML and JPM place well on the credit side of the mega funds since they do more market related stuff.

May 1, 2018

I'll shoot you a DM to get more of an elaboration. Thank you!

May 1, 2018

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