deowl wrote:
Folks,
I don't know where you're taking this rather discouraging statistics from. I can't tell about other schools, but as a Wharton student, that was rather easy to get into VC/PE for all those who really wanted this.
Most of my Wharton friends ( internationals, no prev. PE experience whatsoever), all those of cause who worked to get it, got a nice PE internship. Truth must be told though, most of them are working in UK, not US, but does it really matter?
As to the VC industry, I know at least 4 people here, my personal acquaintances, who got a VC summer job again without any prev. experience in the field ( some are even without any blue chip experience, just your regular start-up techies ).
Yours truly, for example: just an IT guy, international, no blue chip, no prev. work experience in US. No networking whatsoever. Sent about 7-10 resumes , got 3 interviews and 1 offer in a VC shop close to home.
So keep your chins up. If you really want it , you will get it.
Please define "nice PE internship." In terms of PE, I'm sure if you were persistent enough as an MBA out of Wharton with zero applicable experience you could convince some small shop to take you on for the summer. But in terms of the well-respected larger PE funds (in the US at least), I still believe that experience rules the day. I have no insight into either UK or VC hiring, so everything you say could very well be true. But, remember that H/S/W are placing at much higher rates, by a considerable margin, than the other top schools, so your experience definitely doesn't apply to the majority of MBA students.