If you have the choice, do you think it's better to stay on and do your two years in banking, get the background training you need and then move to PE as an associate? Or would you look to make the jump if you were e.g. Analyst 2?
Any advice is welcome - I am trying to figure out where will I learn more.
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Hi there,
I am currently still a student but already had 3 internships in PE and while there asked a similiar question "When is the best time to move into PE?".
I got a lot of different answers but try to give an overview.
A few things first - I am studying in Germany so things may be different here. Furthermore the funds had different sizes: "1bn AUM, 5bn AUM, 20bn AUM" and different strategies (LBO, Growth, Special Situations) - depending on the type of fund I have received different information.
That said the majority of professionals joined after 1st year 25% or after 2nd year 25%. Another 10% joined after 3rd year and another 15% joined after working for one year as an associate (1st year MBA or 4th year undergraduate). 15% joined later on (mostly Partner already). 10% also joined directly out of undergraduate.
Those who "skipped" IB said it was a mistake since the first 6 months were extremly difficult as they had a lot of problems. People who joined after their 1 year were undecided - some thought they joined two early others thought it was the right moment. 2nd years and associates were happy with their decisions.
All in all based on what I have heard I'd assume after the second year as an analyst would be the ideal choice. However keep in mind that I have only heard this from others and that I live in Germany.
Furthermore please excuse formatting and spelling - currently on my way home and answering by phone.
Forget to say: In Germany 50% of Banks promote to Associate after 3rd year 50% after 2nd
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