wabo22
I'm finishing up my R2 application and thinking through the post-MBA goals section. My long-term goal is PE but realizing this is unlikely directly post-MBA from any school, I'll likely recruit for banking (or possibly consulting). What's the best way to frame this? My industry is PE and explain IB>PE path, put my industry as banking because that's the immediate post-MBA goal, or another approach? Also, better to only discuss PE in the free-form section?
Generally not certain if HBS's aim is to see long-term career interest or what you're recruiting for ideally. And better to show self-awareness that there's a step before PE for me or just discuss the goal of working in PE?
Your question about PE is a good one and a common one, especially for applicants to top schools like HBS. AdComs are savvy to the realities of recruiting, and while your AdCom application reviewers may not be financiers themselves, they are able to recognize a resume that is imminently PE-worthy already (e.g., somebody applying to HBS out of Warburg, with 2+ years of IB under their belt already, with a top undergraduate institution & GPA...), versus somebody who'll have to start out in IB or some other financial field and then transition to PE later on. PE and VC are the hardest careers to recruit for immediately post-MBA and the AdCom knows this.
You'd be wise to recognize your own realities and, if you aren't immediately qualified for PE today, indicate a more reasonable short term goal like IB with a *LONG-TERM* goal of PE in your HBS essay. You can talk about the HBS curriculum and an Associate position in IB building your financial modeling skills which you'll then reposition into PE in the long-term.
Be mindful of the fact that PE is a very frequently espoused long-term goal, so it will help you if you can be as specific as possible to differentiate yourself (e.g., what industry? Geographic concentration of portfolio companies? Growth stage? Middle market vs. Apollo/KKR, etc.) Ideally, you should touch on your near-term and long-term interests in the career short answer as well as the personal statement, though obviously the personal statement should not be solely about your career ambitions.