MS IB vs 3i PE out of undergrad
Hi,
I have been offered a full time job as an analyst in the tech team at Morgan Stanley, but I also have an offer to join 3i's grad scheme with rotations in PE and Infrastructure. I am in two minds about which one to take. How competitive will I be as a candidate after completing the grad program at 3i vs doing 1-2 years at MS? I recognise MS IBD will give me the most options but there's no guarantee I could break into PE again. What are your thoughts on 3i? Please help if you can, any commets are appreciated!
Unless you are keen on Infra (3i is quite good at it) I would go for MS.
3i hasn't had strong returns on the PE side - so if you're interested in PE, would take MS and then move later
Morgan Stanley
Morgan Stanley. While it's no guarantee that you'll break into PE, you should have very good odds if you put in the time. As you mentioned, you will have greater optionality with MS. You could also end up hating PE (and having that MS name will likely be considerably more helpful outside of the finance world).
Is the 3i grad scheme only in the UK?
MS is the better bet. Since you were able to obtain a PE offer now, it’s likely you’d be able to do it again on the normal timeline. The MS name and network will be a greater benefit to you over time. Unless you are confident that 3i, specially, would be an especially good fit for some reason, don’t think you can really justify it.
Usually, I'm a big fan of analyst programs but I would say MS because you 1) preserve more optionality but 2) will likely get a better offer if you recruit after your stint in banking from MS...if this were a Warburg or Blackstone would give advice to go PE
Is this London? MS Tech London is a very good team but very sweaty. You should be competitive for significantly better options than 3i after even one year in the team
Where do people usually exit from the MS London Tech team? Any chance you can provide some colour to this?
In theory you will be able to interview with every PE / Credit fund and hedge fund (to a lesser extent real estate and infra funds (i.e. the niche / specialized funds) of course). In practice, however, nowadays this will significantly depend on your gender (i.e. whether you are a diversity candidate). There quite a few large cap funds, especially the public ones, that are hiring female candidates with a strong preference if not exclusively. Hence, exit opps aren't be as "easy" as they used to be for top tier white male (privileged) candidates anymore, but you are of course still in a strong position for those funds that (can afford to) care less about diversity.
Cheers! This is very helpful! Three points if do not mind:
1) When it comes to diversity hires, how can I stress this more during the application process? (e.g. LGBT+, being non-white etc)
2) Do you happen to have any advice on how to best network best in this space (GE/VC)? Just cold email people in the industry? And build a solid network with key players/people in the Tech space?
3) Are you also optimistic about exits in GE's and VC's? Checked Linkedin but haven't seen many exits from the MS Tech team to such places (neither GE/VC nor PEs). Hence, I am still contemplating which team to join.
Thanks!
1) Frankly you cannot really beyond what your linkedin profile transpires (which is where headhunters will screen profiles and contact you when there is a fit for a role, i.e. skin colour, possibly less priviledged background and gender. In banking application you can tick the box for LGBTQ in the online form - the same does not apply for buyside roles.
2) Not an expert regarding networking. Cold e-mailing can work, but having friends in the industry who can connect you to relevant people, friends of friends etc. is of course the easiest. After all, the industry is small, so knowing someone can be very valuable and might allow to cut out HHs for some roles all together
3) Think it is more of a self selection bias here, i.e. most Top3 BB candidates who want to go for the buyside usually shoot for the big name traditional buyout / credit funds, with fewer targeting (the big) GE and VC shops (e.g. look at GA, TA, TCV - they have plenty top bankers). After all, most of these GE and VC firms have some sort of tech focus, so having experience in that industry during IB is the best you can do to position yourself
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