Private Equity/Hedge Fund Recruiting: Differences between Starting at a BB Investment Bank vs. a MM/Boutique Investment Bank

K0NG's picture
Rank: Senior Monkey | 86

Hey guys! Title says it all.

I'm currently researching as much as possible in order to plan ahead and look into the process of recruiting for hedge funds/private equity. I'm not completely sure about which path I want to take, or how long I would like to stay in investment banking - but definitely open to all routes. I'm curious to learn from people who have been in the process.

What are are the advantages/disadvantages of being at BB vs MM when it comes to these recruiting efforts?

Does your coverage group play a significant role in recruiting? Heard that Leveraged Finance/Financial Sponsors are the best groups to be in for Private Equity, but have also seen individuals move into PE from Equity Capital Markets.

How would one go about the networking/recruiting process? (I've heard headhunters reach out to you, but is there a way to stick out?

Interview advice, study materials, and other advice would be greatly appreciated! Thanks so much guys. I really appreciate all the help and advice. Feel free to PM if necessary! Thanks again!

Comments (6)

Apr 20, 2015


Jun 8, 2015

bump! any help would be great

Dec 5, 2015


Dec 6, 2015

You will have a much easier time getting into PE from a BB. If you're at a HW, HL, WB type of shop, it's doable but still tougher than a BB. Also would not count on getting into PE from an ECM role. You want to be in a group that does deals and works on M&A. Generally speaking, lev fin and M&A will provide the best exits but it's different at every bank

Dec 6, 2015

Boutiques usually do better than BBs in terms of PE placement. Places like Moelis/Lazard/Evercore give analysts a lot more technical skills than a typical BB coverage group. Also senior people are usually more supportive at boutiques as well which makes the recruiting process a lot easier.

Dec 25, 2015