Private Equity Associate
Hello everyone. I just previously started an unpaid internship with the intent to hire me upon graduation (a semester away). The company is headquarted in NY but previously opened a branch in another state. The job mostly consists of cold-calling prospective clients and raising capital. The job looks to be a promising career in terms of $$$. I am just curious to know if a position like this could transfer over as good/reputable experience to other PE firms or anything IB related.
Important things to know: - little to no modeling. - Deals are identified by upper level staff. - I live in a state with little to no entry space for IB,PE, or VC careers.
Hate to break it to you, but that does not sound like a proper PE-shop. If you are cold-calling "potential" clients/fundraising for free I would take my things and run.
What kind of deals, if any, are they doing anyway?
I'm sorry I stated that incorrectly. What I meant is that the FULL-TIME position is doing that. As an intern I am only shadowing the actual "associates" The position is for "associate." The associates are the ones cold-calling. Once I graduate and become certified(series7) I will be picking up this role.
Sorry for the misunderstanding.
I still don't understand. What are you doing as an intern then? Are you shadowing people that are cold-calling, ie. looking at people making phone calls?
What does a Series 7 have to do with PE?
It's a little weird to have an intern raising capital? Generally it's someone who can speak really eloquently about a deal and understands the needs of investors...which is hard to do if you're brand new.
I'm sorry I stated that incorrectly. What I meant is that the FULL-TIME position is doing that. As an intern I am only shadowing the actual "associates" The position is for "associate." The associates are the ones cold-calling. Once I graduate and become certified(series7) I will be picking up this role.
Sorry for the misunderstanding.
It's not good / reputable experience, as it sounds like a search fund, for PE / IB, but it is still a decent stepping stone to the next internship. Focus on leveraging this experience into a boutique IB internship -> convert into a better IB full-time offer -> PE.
Doesn't sound like the kind of experience that you could leverage to get into IB/proper PE. Be careful not to be manipulated to work for free with this full-time conversion possibility dangled over you.
Sounds like a troll
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