Background: * Finance and Accounting Double Major at Extreme Non-Target: 3.4 GPA * PWM Intern during school * Working in Investor Reporting for a Single Family Real Estate PE fund with ~ $1.5Bn AUM following a year at a large Multi Family Fund. I am in my second year of full time work after undergrad, and I am grateful for the opportunity to share my experience. The WSO community has been such an incredible resource and encouragement so if I can be of any help feel free to ask. As there are not too many posts on Fund Accounting (I didn't even really know what it was when I got my first
06 Feb 2020
I am located in Dallas Texas and am very avid in looking for Private Equity internships. I am fairly new to private equity and want to understand more about the field as well as break into it. I have an internship and a few stock competitions on my resume but am looking to intern at smaller banks in my area due to lack of experience. I have networked with a lot of alumni in Private Equity and they have been super helpful and many recommended me here. What should I be focused on learning and understanding first to truly nail an interview once I get one? I am currently enrolled in the WSO Elite
22 Jul 2020
Hi everyone, I applied to cal poly slo and have fallen in love with the school. It is VERY cheap, just the right distance from home, and they have a strong engineering and business school. However, I haven't ever seen anyone mention it in this forum, so my question is, is it any good for investment banking? I want to do banking in either the bay area or LA. How do SJSU and Santa Clara compare?
11 Jan 2020
Hi everyone, I am a high school senior. Not long ago, I made a post asking about Georgetown vs Berkeley, but the other day I was accepted to Ross, and now I have questions about it as well. I'm wondering how these three schools fair for placement into IB/MBB/PE/VC (obviously PE/VC opps will be nonexistent out of undergrad, but I'm wondering which of these schools has the best alumni network in these industries). For reference, I'm not at all opposed to staying in the west coast. Also, regarding Georgetown, I'm aware its placement into IB is killer, but I'm worried the school is rather one
21 Apr 2019
Trying to decide between a summer offer for Bain Consulting vs Audax Private Equity. Not sure if I want to be on the buy side long-term, but would like the option to do PE. Long term looking to get into VC. What's the general reputation/tier for Audax? How easy is it to transition from Bain Consulting to PE? What sort of firms would I be looking at? If I transition to PE from consulting will I be able to go to business school? What's a better path to VC?
17 Oct 2019
Currently, I'm looking into going into consulting or some sort of finance job -- forgive me, I honestly am not too well-versed in the technicalities of these fields. I'd like to work in the Northeast (or at least East Coast) if possible after graduation, but obviously that's easier said than done, so I'm very flexible about career locations in the future (plus, this is way too early to really pinpoint that down, anyways). I'm debating between ED'ing (applying binding early decision) to Cornell Dyson AEM, UPenn (Wharton), Northwestern, UChicago and Brown. I like the latter 3 for the curriculum
01 Aug 2020
The opposite scenario with the purchase of specific assets such as inventory or accounts receivable seems logical but what would be the logic for a firm to purchase specific liabilities in a company? Any examples would be greatly appreciated. P.S. I know a lot of distressed funds target 'fulcrum' securities in the hopes of re-organisation post filing for chapter 11 but was curious about cases not such as this.
22 Jun 2020
Hi Everyone, Is anyone here familiar with Brookfield Capital Partners' operations, deals, rep, hours, pay? I came across them and am super interested in the way they do business. Will they comparable to BX, Carlyle etc.. in 5-10 years? Thank you
07 Mar 2020
Since this is my first post I suppose a proper introduction is in order. I am currently a Co-Op at an F500 Corp that is well regarded. I have received an offer for the summer from Tesla in the Palo Alto HQ as an FP&A intern in their finance department. Additionally, I was told that working in FP&A puts you pretty close to mgt at Tesla, i.e. sitting in on weekly meetings with execs and mgt. How could I leverage my time at Tesla to increase my odds of getting an interview for a front-office position? What do people on the street think of those that worked at Tesla? My stats are meh, but I have
29 Oct 2019
Coming from the software world, I wanted to get a view on what people in PE think about buying out companies in the software world that didn't become the next Salesforce.com or ServiceNow. Basically companies that got VC funding, did well in some niche but ended up being sub-scale, without any real possibility of an IPO To put this in financial terms 1) Revenues = $5mn - $10mn recurring revenues, growing in the 10-15% y/y range 2) Net Retention rates = 105% -110%, Gross retention rates near 90% 3) Gross Margins= 80%+ 4) Operating Margin (excluding SBC) = 0% 5) Enterprise focus = 80% of
08 Nov 2019
I really need some objective advice from those who've worked in the banking industry. PLEASE READ THROUGH THE ENTIRE POST! My question to you is, Is the decision of leaving school to pursue my business venture a wise decision? Or am I chasing a false Canadian dream? The business I'm planning on going into is the real estate sales business, selling residential and commercial properties. I also plan to be a long-term investor in the equities market, and to also invest in business based on my in-depth analysis of various businesses when an opportunity arises. In Canada getting your real estate
07 Sep 2019
I've heard from multiple people at MF PE that basically if you're not at GS/MS/EVR/PJT etc., HHs try to push you to smaller/worse funds and that the first interview spots at top funds are reserved for people in those top groups (by top funds, I mean the "typical" definition e.g. MF, H&F, etc.) Is the prevalence of people in top groups exiting to top shops a function of their individual ability, or is it because top shops have an easier time getting interviews in the first place? Sure there's a selection bias because people with the highest ability tend to go to top groups. But hypothetically
18 Sep 2019
I got into rising junior transfer to UVA, UNC and Berkeley (as well as BU and UW-Madison). I'm going to be an Econ major at all schools, not b-school (personal preference). I'm from the bay area, so unless UVA and UNC just can't compete with Berkeley, I want to go out of state. From my research, I feel like it's 1. Berkeley 2. UVA 3. UNC 4. BU. I want to break into MBB or other mgmt consulting, or maybe IB (NYC or Boston).
28 May 2020
I am currently 27 years old and serving in the British Military. I started my service straight from high school (16 yrs old) and therefore I have no other further education. I am considering ending my service and entering into a career in investment banking. My question is whether a degree in business finance or even any degree at all is essential to starting out in this career path?
24 Jan 2020
Hi everyone, As a high school junior I've started thinking about where I want to go to college, and considering that I want to go into finance, particularly Private Equity after undergrad (yes, I know it's very difficult but one can only hope...) I have narrowed down my top choices (schools I am thinking about ED'ing to) to Dartmouth and Duke. I have visited both schools and love the atmosphere at both of them, but I was wondering how OCR compared for both from the finance industry? I know the BBs recruit at both places, but regarding boutique firms and PE firms such as Blackstone and Lazard
19 May 2019
For a software company with high recurring revenues, what level of leverage will be considered investment-grade? I am trying to figure out what level of debt can a company (broadly $5-$25mn revenues) finance from bank loans and high-yielding instruments, and what would be the best way to structure them (covenants etc)
09 Nov 2019
I'm having trouble deciding between majoring in business econ and econ with a specialization in data science. The business econ major requirements mainly include courses on accounting, management, and finance topics whereas the data science track has more of a focus on math, statistics, and econometrics. Which major would be more appropriate for an investment banker? Link to the major requirements: http://collegecatalog.uchicago.edu/thecollege/eco…
18 Aug 2019
America is in the grips of a speculative frenzy. Investment bankers, private investment firms, and even a few dozen recently graduated MBAs labelling themselves "searchers" are calling, emailing, wining, and dining small business owners. Their goal is to translate prosaic small businesses into the poetry of private equity. The great postcrisis private equity gold rush is on, fueled by cheap debt and enthusiastic investors. A lawn care chain might get half a dozen calls and emails a week from business brokers and "searchers." A regional bank auctioning off a business with $15 million in profits
13 Nov 2019
Hi everyone - Any advice for how to break into REPE? I know one way is to start out on a real estate desk in IB, but I was wondering if people have taken/know of any nontraditional routes. For background, I just graduated from from a target school and have a decent GPA. I am about to start an analyst position where part of my job will be real estate related valuations (keeping this vague on purpose), but I know no one who has worked in this position and who has gone onto doing anything related to REPE, so I imagine getting a job in REPE after the one I'm about to start will be quite difficult
17 May 2020
I don't see a lot on this Blackstone group (Strategic Partners) in particular - could anyone share experience working with them and/or what career opportunities would like out of here? Is HBS feasible, and what about shifting into a direct PE investing role? Any overall commentary on secondaries/co-investing would be awesome as well
29 Apr 2020
I'm a rising junior majoring in Environmental Econ. I go to a T10 target school, but I think it is very unlikely that I get into a BB IB...potentially IB at all, also not really upset about that because I don't really see myself thriving in the IB environment? I was hoping someone might be able to give me some suggestions about career trajectory and what internships I might want to look for going forward. Thanks so much.
23 Apr 2020
Hi all, Recently been recruiting for funds with a tech/software focus and I wanted to see how people have flipped their stories and answered the "why software" piece effectively. Don't have much of a background in technology but I have always found it fascinating. Would love to know how to really impress in interviews. Thanks
18 Sep 2019
ok so im in hs and i may sound retarded so pls bear with me. so the 2/10 bond yield inverted today, sending the markets plunging. This is what happened in 08, so we're probably going into a recession. If a recession hits, will ib -> pe still be a viable career option? do banks hire during recessions? and is tech a better career field? im pretty sure vc is gonna die when the tech bubble pops. so will finance even be relevant in 5-10-15 years? (if bernie or e.warren get elected im assuming the industry is screwed)
15 Aug 2019
Surprisingly, I have been asked to show up in person for a first-round interview and I have no previous experience interviewing in PE. I have always done first-round interviews on the phone (activist HFs) - I am now going for private equity and found this very weird. Perhaps I'll be asked to do a paper LBO, but I wasn't sure. Was hoping to get any insight into why this might be the case?
10 Nov 2019