Switching into PE/VC?

I'm a 3rd year analyst at a start-up PE fund with 2 yrs BB IB experience. I know my chances are slim for mega fund post-MBA (even if i get into H/S/W), I'm wondering if I should go back to IB or should I get some MC experience if I plan to enter a mega fund a few years down the road? Any advice would be appreciated. Thanks!

How would MC increase your chances over the experience you already have? (Honest question)

I mentioned somewhere else that I saw a ton of Bain Capital online bios with MC background (often Bain). Wasn't sure if that was just some home-field advantage or if they really value MC experience.

Which PE and VC firms are the most sought after, among students at top MBA programs? I assume blackstone, carlyle, and cerberus are on that list.

Ones that will employ you normally serves to be enough.

amberstone - it may be more beneficial for you to work your network to find out on this. I am aware of a number of Strategic Consultants that make the jump, but as a whole of the population I am not sure how great that number is.

Do other career switchers here feel the bolded statement is applicable to you? Are you willing to work at any PE shop in order to be part of the industry? If not, do you think that means it's something you're not truly passionate about as a profession?

I'm interested in the industry long term (short term goal is IB). I would want to work for a reputable firm but not necessarily a large cap/mega fund. I think that I'd have better learning opportunities at an established firm that has raised a couple of funds, successfully exited a handful of portfolio companies, etc. Versus a fund that was just raised, hasn't built a track record yet, etc. However I wouldn't be quite so picky as far as assets under mgmt goes.

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Hello everyone.

I would appreciate anyone's feedback regarding a VC/PE internship. IF one, without prior financial industry experience, was able to secure an unpaid VC/PE internship prior to b-school do you believe it would increase one's chances to obtain a summer internship or job a year out? (Please suspend disbelief)

I'm interested to learn more about the industry as the challenge of valuating, growing, or rebuilding companies is very intriguing. If in an ideal world you had an option for either VC or PE to internship in, as a career switcher, which would you choose and why?

Thanks for your input as I am a curious optimist eager to learn more about both industries.

I know this was touched on in page 3, but does anyone else have knowledge of people who went from law to PE? Or even how PE lawyers would generally be viewed as a potential employee at a fund?

For a career switcher, it seems that if you could land a job at a top law firm doing PE work, you'd be in at least as good of a position to make the jump as you would be at a top bank. My basis for this is that I would think lawyers get quite a bit of the "deal experience" as well as a fair amount of exposure to the technical side of the deals, though this would be much more from a legal standpoint than a numbers/modeling one.

I know this really doesn't interest anyone who isn't considering a joint degree, but though some with PE experience could chime in if they have any general impressions.

I know a guy that worked part time, summer internship and three full semesters at a midmarket PE shop. All Pro Bono, should we say.

He got a job.

I doubt doing less would work. Without the background that suits, PE is a slog. VC has more backgrounds that work. If you want to learn about valuation, rebuilding and growing firms, go into an IB - restructuring perhaps, though that is quietening down - and then maybe move later. Much easier, more probable and established.

Wouldn't mind hearing others inputs on this.

That was seriously funny! And it all sounds true!

My outside in view from a lot of MC friends who either went to IB/PE/B-school @ H is that PE = Dollars and a lot of respect for MC/IB.

VC respects Startup experience or product management experience a lot more than IB/MC

I'm looking to go VC only (and not PE unless it's the internal consulting group @ Carlyle / Blackstone) in my "ideal" world.
Let's see how the apps and THEN the damn applications for jobs pan out.
Cheers

If anyone is interested in reading up on the PE/VC industry, you should check out the case notes that Tuck puts up online. I took the PE class and the notes were excellent, very indepth.

https://mba.tuck.dartmouth.edu/pecenter/research/case_studies.html

RF

Wow refurb, thank you very much!

Great thread. +1 agold

Very interesting tread.

What about the international PE offices ? Having lived in country where, let's say, Carlyle has a office, would it make easier to land into a job ?

I understand that the language and culture would be major hurdles for someone who does not speak the local language, even with a H/S/W + Ivy League degree. The due-dilliengences, local negotiations, etc., may play a big role as well as the valuation modeling.

I read a bit about the top American and Euro PE firms and it seems that they are expanding their international presence to compensate for the current US & Europe economic downturn.

This thread is rather sobering for a career switcher like myself however it does match with what I have read on another forum.

I'm active duty military right now and had hoped to leverage an MBA into PE. I think prior military service is a plus for getting into a H/W/S and a plus for many companies but definitely not for PE. I had thought originally that it might be good to do a few years as an I-Banking Associate then switch to PE but from what I've been able to find it sounds like your switching opportunities are really limited to pre-MBA analyst or VP/MD level and not much in between. A lot will depending on where I get into school I suppose but I may need to re-evaluated my career plans.