chris0813 wrote:
Thanks for the feedback!
I currently work for a PE fund of funds, which is a bit different (we analyze PE funds, not investing in companies or structuring deals). I am also working towards completing my CFA in June. I would love to get into real PE and possibly work abroad in Asia. However, given the difficulty of breaking into the PE industry, I have an eye towards other areas in finance such as IB/IM/Asset Management (which is probably still difficult in this environment)
I don't think I have super relevant experience to work in PE / IB / IM, but have some exposure and will hopefully have a CFA soon. Seems like Booth would be helpful in making a transition given its strength in finance, but maybe I can do this at Haas anyway?
(As for location, I really like both locations. Currently live in Chicago but also like the Bay Area!)
Now this becomes a difficult decision. Moving from a fund-of-funds to the direct investing PE side without investment banking/deal experience or general management experience is very difficult. The skill set does not transfer very well. Not to mention the huge shortage of PE jobs currently and the massive amount of unemployed, overqualified bankers who would jump at the opportunity.
If you want to go into investment management (likely the easiest route to go, considering you're working towards the CFA and have FoF experience) -- I would have to say you should go to Chicago. Chicago places better in NYC, and I think there will be more jobs in NYC than SF during the downturn.
If you want to go into investment banking - it probably won't matter much either way, but I'd give a slight edge to Chicago.
If you are dead set on direct investing PE -- you should probably focus on small/lower middle market firms. These are plentiful in both Chicago and Haas, and it will come down to your ability to network. At your FoF, I'm sure you have gained a lot of exposure to various PE funds across the country. Do you have solid relationships with ones in SF? If so, go to Haas. Are you contacts better in Chicago? Go to Chicago.
That was probably long-winded. Best of luck. I would speak to alums and current students at both schools, as well as finance professionals in the fields you are interested in to get a clearer picture.