That is very true kwam. There is a high level of causation. People in big name PE go to H and S and then return to big name PE. Thus begins a cycle where these two schools dominate folks in big name PE. As a non PE b-school student you need these things to break in :
- Superb banking experience (deal making / modelling etc.)
- If not banking then superb MC experience
- Ability to network and fit in with the PE types
- Some connections in the PE industry
At Harvard you will be competing with a lot of superstars for the same PE jobs. So by no means assume that Harvard is a golden ticket. Go there for the right reasons (stronger brand, opens more door, case method does it for you, the crowd is right for you etc. etc.)
I have met people who have turned down Harvard for LBS (yes it happens). They do it for various reasons. Fit (they like the older crowd here), personal situation (girl friend wants to stay in London, all the networks are located in London) or financial (full scholarship). So see what applies for you, if you were to turn it down. It could be as simple as fit. You will be spending two years there - you want them to be the best two years of your life.
Good luck with the decision.
kwam wrote:
Right after school this is true; nevertheless, most people with previous experience in PE/VC go to HBS and Stanford, and that is why these 2 schools have more people going to PE/VC right after school. Both industries are hard to break into, especially if you want the big names (KKR, Blackstone, Carlyle, Bain Capital, etc). Same thing with HF, hard industry to get inside. IM and IB I would say that it will be the same.
I love Booth, but I have to admit that HBS will indeed open you more doors generally speaking, just beware that for PE/VC/HF people use to tell only half of the story, I am telling this because around 50% of the people nowadays going to MBA believe that they have a shot with these industries when the actual number it's way lower than this.