PE or Asset/Investment Management gig out of undergraduate B-School?

Hey Guys

I was wondering how the job prospects were to get a decent job at a PE or Asset Management firm right out of undergraduate business school. I am planning to continue graduate studies afterwards and I am looking just to gain some real world experience so I am not looking necessarily for a big name like Merrill Lynch but a pretty decent job at one of these types of firms. How hard would it exactly be?

Thanks

 

I think it depends on the skills you will build in each internship. Whatever gig gives you more technical skills with modeling, etc, will be better in the long run. Future firms will want you to be able to hit the ground running. From what you listed, it seems the PE firm will be more interesting and fulfilling, but I can't say much since you didn't list exactly what the first internship consists of.

 
Best Response

One quick note: if your goal is to end up at an established private equity fund, you need to work aggressively to convert this summer into a full-time IBD offer at a good bank in a good group, and perform well there. This will not be easy with either of these internships, but I agree that you might be better off at the PE firm. I would not be as unequivocal about this choice as some of your prior responders. Has the PE firm raised a fund? Have they closed a deal?

Unlike hedge funds, many successful examples of which were started by young, enterprising individuals, private equity sponsorship generally requires seasoned management, substantial initial capital, and a lot of infrastructure. The odds of a bunch of b-school grads raising and deploying a successful, legitimate fund are dubious. In some ways you might be better off from a general career perspective going with a respected firm in a less glamorous part of the financial services industry than a firm that will be looked down on. Also, I find it's generally a bad sign when firms volunteer their connections as a reason to join.

 

I don't see anything wrong with them advertising the access to their network. They appear to be transparent, in that they provided the OP the sense that a full-time offer is not likely to come from this internship, and that that is mitigated by their connections. As long as it wasn't pimped in the job description, and was communicated orally, I don't see an issue.

 

Quo vel quam non quo eius culpa. Aut quia odio quasi ad animi quo voluptatem.

Eos ex voluptates earum ullam fugit voluptatem. Et facilis omnis possimus. Fugiat nihil itaque qui reprehenderit. Quia id vitae error dolorum. Officia fugit itaque ab reiciendis molestiae. Et soluta mollitia beatae cumque officiis eos assumenda. Eligendi et animi ut debitis ut eius.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”