What is the timeline for full-time hiring out of undergrad in REPE?

goskins5's picture
Rank: Senior Chimp | banana points 17

Hey guys, I have been feeling a bit lost recently.

I completed an acquisitions internship at a Top 5 REPE shop my sophomore year and have since accepted an offer for this summer at a top debt group. My original thinking was to get some debt experience (since I had already spent a summer in equity) and either I'd love it and stick around or it would greatly benefit my equity-side investing experience. I have heard mixed reviews on the strategy in my network and my equity-side fiends have encouraged me to spend the first couple of years in equity. My long-term plan is to be an LP-investor in hotels at some point.

So now I am considering talking to top equity groups for full-time but I have no sense for what the timeline looks like. Is anybody giving ft offers before end of summer? Aside from Starwood/BX are there any guys hiring directly out of undergrad that weren't in an intern class?

Is it common to spend a couple years on the debt side and then do equity? Like I said I am very interested in the debt side - I just want to make sure I have my bases covered and that I'm not limiting myself in the future. Especially since I really do love diligence for equity/investing etc

I'm at a top target (Harvard/Wharton type) with a good GPA if that adds anything

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Comments (5)

Mar 12, 2019

If you are at Harvard/Wharton then you should ask your career counselor instead of WSO

Mar 12, 2019

I tried lmao. They weren't very useful and couldn't give recommendations outside of the traditional I-banler track

Most Helpful
Mar 13, 2019

Might sound lame but you can do whatever you want. People make more drastic switches than debt side at a top fund to a top REPE...

You'll be fine. People tend to be risk adverse so that's likely why they're saying that. It could give you an interesting and unique perspective for investing in equity.

Look up "Behind the Bricks" podcast with Josh Zegen as the guest. He leads up Madison Realty Capital. He talks about how his experience with debt makes him a unique investor for equity.

    • 3
Mar 12, 2019

Interesting. So I talked to an acquisitions associate at another Top 5 shop today and he seemed pretty bearish about the experience... commenting that no. 1 they don't hire out of UG and no. 2 they almost exclusively look at IB grads or guys from other top shops on the equity side.

Can you think of any other top guys that would talk to someone for full time out of UG?

Mar 16, 2019