I have been a long time lurker and recent poster here, I have got so much from this community, I can say I would not have done it without you so I think it is time to give something back. I am sure you heard stories like mine but I hope this can be inspirational to some of you.
My background:
I come from a very low-income family in continental Europe (I am not afraid to say my family cannot make it till the end of the month). I was the first to ever attend university, I got a BSc in Finance with top grades from my hometown university because it was the only place where I could afford to study and I made it thanks to the scholarships my university paid and to my work as a tutor. Starting in university I had no target job, but towards the end of my bachelor watching some finance movies I got interested into M&A and PE. So I looked at some MSc, got a good GMAT and got admission into some top schools in the UK. Sadly, I did not attend because I did not find a way to pay the tuition.
The heartbreak:
It was heartbreaking because I thought going to a top school was the only way to get an M&A job at a BB so I spent some weeks crying (I know it sounds stupid).I decided to defer my offer with the plan to work for a year, make money and then attend the MSc. I applied to all jobs on BB job boards, I spent 3 months checking their websites day and night and networking. In the end I got a 6 month BO internship at BB, I accepted the offer because it was a good way to make money and add a good brand on my cv. While interning I was still applying to M&A jobs in the UK, through networking I got some interviews but no offer, I kept applying but nothing was working out and in the end I spent 1 year unemployed.
Picking myself up:
That time spent unemployed made me feel useless and depressed like I had no purpose on this world, in the meantime I took level 1 of the CFA and I decided to apply to M&A jobs in my country and thanks to some luck I got an analyst job at a small unknown boutique. The pay was rather low, I could barely make it till the end of the month but I was happy to finally work again. My plan was to work sometime there and then lateral to a BB in the UK. In the meantime I also passed the 2nd level of the CFA.
Networking paid off:
Even when I was unemployed I kept networking and applying, the feedback was that I could never get an M&A job with no previous M&A experience, so after I started working for the boutique in my country I was feeling it was just a matter of time until I got what I wanted. After starting at the boutique, thanks to networking I got 2 interviews, an EB in my country and a MF. I got an offer from both of them and I chose the MF because the economic offer was superior.
It has been some months since I started and I now feel happier than ever, I love my job and I can help my family plus I see increasing opportunities opening up for me. The matter of the story is to never give up and always try, even when it seems impossible, always work hard, have a plan and you will reach your goals. There is no magic, that's life.
Where to start:
For those of you that aren't sure where to start (networking and/or interview prep) or want to make sure you're ready for tough LBO modeling tests, I'd recommend the WSO Private Equity Interview Course as a great resource.
Mod Note (Andy): Throwback Thursday, this was originally posted Jan 2017
Thank you for sharing. Very inspiring !
Congrats on your achievement! Definitely gives me motivation at a time when I need it the most.
Proud of you man! Keep up the good work and let us know of any new developments in your career.
Congradulations!!!
It has been some autoclickermonths since jumble solverI started and I now feel happier than ever, word unscramblerI love my job and I can help my family plus I see increasing opportunities opening up for me. The matter of the story is to never give up and always try, even when it seems impossible, always work hard, have a plan and you will reach your goals. There is no magic, that's life.
Thank you guys!
You did a great job Sir! Keep hustling!
Congrats! Very happy for you!
thanks for the support guys, I might be doing an AMA in the near future.
Quite inspirational. Very interested. Congratulations!
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Congrats, very inspiring!
Congrats! Would like to see the AMA sometime. Curious about your approach to networking and what worked for you to get in touch with the elite boutique and MF
I developed a networking template that I improved over the time. I was introducing myself and I was reaching out to people who were not in the same team asking if they needed someone, when I had no response I was following up weekly. I kept doing it until they offered me an interview.
congratulations!
I'm a little confused, could you elaborate on that last part? Did you ever make the lateral to the BB before going to the MF? Or did you go straight from the no-name boutique to the MF?
no lateral to BB
Awesome story and dedication, congrats!
Great story, congrats! +1 sb
Thanks Guys
Thanks very much for sharing! Inspirational.
congrats man:)
Congrats!
How was the transition into your new role? Given you've passed the second level of the CFA and have a BSc in finance, you obviously have some background in M&A, but was it difficult to adjust without the modeling skills you would have gained in an IB analyst stint?
I had worked on my modelling skills on my own plus my current firm made me do 1 month of training which was helpful. I still have much to learn but I am on the right track.
Can you speak more on your networking process, and how you managed to actually find these opportunities while at the boutique?
I was searching the website of all BBs and EBs daily and I was emailing people whenever I was seeing an opening. For the PE funds I was just emailing people as they did not have an openings section and I was asking them whether they needed someone. They initially said no but I kept in touch for more than a year until something came up.
Congrats! Way to keep grinding!
Congrats! Any chances you might still consider to further your education (maybe with an MBA rather than an MSc.)?
Only if I get stuck and it becomes the only opportunity to move up
Inspiring story. From personal experience, I'll just change the last sentence to this.
Somewhere along the line, magic is gonna help you. You think it wasn't magic that made Trump, Cavs and Cubs, all underdogs, champions in 2016. Magic finds those who keep going at it.
I agree with you. We say "Fortune favours the bold"
Congratulations.
You: Visualized your end goal, had a plan to get there, and persisted.
You sir have the mindset to go all the way!
Thank you. Having a plan and sticking to it is very important, even though people around you may think you are crazy don't listen to them and go on with your plan.
Alright - I'm going to break the party. Congrats regardless, you definitely seemed to have worked hard. Is this an offer as a PE analyst (as in actually doing the deal due diligence etc.) or are we talking something else?
PE analyst brah
Sly ass name drop for WSO.
Congratulations man! Keep it up and tell us more about your achievements. I am new here and your story is very inspirational to me.
Thank you, will post an update in the future
congratulations man... well in
Thanks man
Awesome!
Great story!! Congrats on your new job and good luck! And what you said about fortune favouring the bold is so true.
Totally agree, sometimes you just have to trust your gut that things will align
Very inspiring!
True strength of a man can be seen when he admits he cries. I am happy for you and thanks for inspiring story :)
You're an inspiration to the WSO community as a whole. Stories like this keep so many youngins (myself included) motivated. The "never stop trying" attitude is such a powerful mentality to have.
Truly inspiring.
I'm inspired!
Congratulations sir! I would like to know the rationale of a MF PE to take in a no-name boutique kid from a non-target to run their models and DD processes.
Was the firm time-constrained or did you get an opportunity to show the quality of your output by doing client-work for them? I can't see them taking the risk in other scenarios.
"The harder you work, the luckier you get" "Everything happens for a reason"
Two quotes I have found to be very true for me in my journey as well. Thanks for the inspiring story. As a non-target student trying to break into the industry, the key is to simply never give up
DinhoGaucho I got in because I clicked with some senior people coming from my same country. Obviously, I proved I could handle the job during the interview process
Thanks to all of you guys! I hope to give an update in the future
Great post, thanks for sharing!
A truly inspiring story, certainly for me. Congratulations. I know this could be a bit too revealing, but are you from central Europe?
Inspiring and full of passion mate. I do perfectly understand what you passed on, and in some cases I can imagine my actual situation to your one. Let us know of developments and your future, and always keep pushing!!
Nice!! Congrats!! Inspiring story man!
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