Transitioning into PE from Financial Management roles
Hi All,
I wanted to solicit some advice on how one can transition into PE without a banking/IB/consulting background. To elaborate on my current situation, I'm a finance manager at a large division at Comcast and have extensive experience in identifying and driving growth initiatives and value creation by partnering with business unit leaders. I've also worked on internal M&A teams vetting out investments/acquisitions and am currently pursuing my MBA from NYU (part-time) in the hopes that I can use that as a networking platform to transition into PE if possible.
I want to transition into PE (growth equity in particular) as it would give me the opportunity to do what I currently do but across multiple different industries and companies. With that being said, can anyone describe the best path someone like me can follow in order to get into PE? Do PE firms even bother looking at resumes that are from non-target industries? If so, do I likely need to transition into consulting/banking first?
Thanks in advance for any guidance you guys may be able to provide!
How old are you?
I'm 25 at the moment. Just to give additional background: -Graduated in 2013 from Rutgers Business School. -Joined a financial management rotational program at Comcast. -Did rotations in sales finance, marketing finance, operations, capital investments. -Became manager at 23. On track to make Finance Director or VP Finance in another 2-4 years and possibly Divisional CFO of one of our smaller business units in 7-8 years (knock on wood).
I know the odds are kind of stacked against me (coming from a non-target school, non-banking background). Really just looking for honest advice if I have a shot at getting into PE provided I get the MBA and focus on networking (or if I'll just perennially be shifted to the bottom of the resume deck since I lack that banking/consulting experience).
You're young enough to be an associate for a few years at a bank, then transition to PE. It won't be easy taking an unconventional route, but IMO, you need transaction experience. I'm sure you've worked with loads of banks. Develop your network to get in a good group at a BB. \
Or, if they pay well, just stay where you are and crush. GL
Thanks for the advice.
Few follow up questions:
1) What kind of backgrounds do banks look for when hiring associates? Are they looking for a particular kind of school or require associates to have prior bank experience (i.e. do they typically go for analysts that have been working in banks previously)? I ask because I'll essentially have 6+ years of non-banking work experience prior to applying for an associate role... not sure if that'll work against me as I've heard banks would rather invest in associates with prior banking experience.
2) If I elect to stay at my current path and am fortunate enough to get to a Divisional CFO level in 8 years time, would that make the transition to a PE firm more easier? In essence I'd be bringing a more well rounded skillset to the table along with significant management experience which is handy when advising execs at portfolio companies. I'm trying to gauge whether it's worth giving up the current paycheck and growth path for a crack at investment banking...
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