It is currently 19 Oct 2017, 05:43

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# Switching into PE/VC?

 new topic post reply Question banks Downloads My Bookmarks Reviews Important topics
Author Message
Current Student
Joined: 18 Jun 2008
Posts: 225

Kudos [?]: 59 [0], given: 3

Re: Switching into PE/VC? [#permalink]

### Show Tags

24 Jul 2008, 23:13
that helped alot +1

Kudos [?]: 59 [0], given: 3

GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5464

Kudos [?]: 408 [0], given: 14

Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Re: Switching into PE/VC? [#permalink]

### Show Tags

25 Jul 2008, 02:18
good stuff terp06, you are wise beyond your years.
_________________

****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969

Kudos [?]: 408 [0], given: 14

Current Student
Joined: 14 Apr 2008
Posts: 453

Kudos [?]: 36 [0], given: 16

Schools: F2010 - HBS (R1 - denied w/o interview ), INSEAD (R1 - admitted), Wharton (R1 - waitlisted & ding), Ivey (R2 - admitted w/ 60% tuition)
WE 1: 3.5yrs as a Strategy Consultant - Big 4
Re: Switching into PE/VC? [#permalink]

### Show Tags

25 Jul 2008, 06:27
thanks for the succinct exlpanation - terp06
_________________

INSEAD Sept 2010 Interview Invite Nov 5, 2009 Admit & Matriculating
Wharton Sept 2010 Interview Invite Oct 30, 2009 Waitlisted & Ding
Harvard Sept 2010 Ding without Interview
Ivey May 2010 Interview Invite Nov 23, 2009 Admit + \$\$

Kudos [?]: 36 [0], given: 16

Director
Joined: 02 Jan 2008
Posts: 597

Kudos [?]: 29 [0], given: 0

Location: Detroit, MI
Re: Switching into PE/VC? [#permalink]

### Show Tags

25 Jul 2008, 06:43
Good explanation Terp.. thanks for the help!

Kudos [?]: 29 [0], given: 0

SVP
Joined: 11 Mar 2008
Posts: 1632

Kudos [?]: 213 [0], given: 0

Location: Southern California
Schools: Chicago (dinged), Tuck (November), Columbia (RD)
Re: Switching into PE/VC? [#permalink]

### Show Tags

25 Jul 2008, 06:54
I found this article which adds a bit more depth to it:

_________________

Check out the new Career Forum
http://gmatclub.com/forum/133

Kudos [?]: 213 [0], given: 0

SVP
Joined: 04 Dec 2007
Posts: 1689

Kudos [?]: 202 [0], given: 31

Schools: Kellogg '11
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 14:50
terp06 wrote:
I found this article which adds a bit more depth to it:

thanks terp!
PS just saw your avatar - who is it?

Kudos [?]: 202 [0], given: 31

SVP
Joined: 11 Mar 2008
Posts: 1632

Kudos [?]: 213 [0], given: 0

Location: Southern California
Schools: Chicago (dinged), Tuck (November), Columbia (RD)
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 15:57
ac8706 wrote:
terp06 wrote:
I found this article which adds a bit more depth to it:

thanks terp!
PS just saw your avatar - who is it?

http://en.wikipedia.org/wiki/Carl_Icahn
_________________

Check out the new Career Forum
http://gmatclub.com/forum/133

Kudos [?]: 213 [0], given: 0

SVP
Joined: 04 Dec 2007
Posts: 1689

Kudos [?]: 202 [0], given: 31

Schools: Kellogg '11
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 16:05
terp06 wrote:
ac8706 wrote:
terp06 wrote:
I found this article which adds a bit more depth to it:

thanks terp!
PS just saw your avatar - who is it?

http://en.wikipedia.org/wiki/Carl_Icahn

wow totally did not recognize him with the glasses...am more used to seeing photos of him in profile

Kudos [?]: 202 [0], given: 31

GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5464

Kudos [?]: 408 [0], given: 14

Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 16:55
terp, you're scaring me.
_________________

****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969

Kudos [?]: 408 [0], given: 14

SVP
Joined: 11 Mar 2008
Posts: 1632

Kudos [?]: 213 [0], given: 0

Location: Southern California
Schools: Chicago (dinged), Tuck (November), Columbia (RD)
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 16:59
kryzak wrote:
terp, you're scaring me.

That was the intention
_________________

Check out the new Career Forum
http://gmatclub.com/forum/133

Kudos [?]: 213 [0], given: 0

GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5464

Kudos [?]: 408 [0], given: 14

Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Re: Switching into PE/VC? [#permalink]

### Show Tags

27 Jul 2008, 17:18
hahaha, not sure if I can stand looking at that avatar long enough to answer your questions in the future.
_________________

****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969

Kudos [?]: 408 [0], given: 14

Senior Manager
Joined: 09 Mar 2006
Posts: 444

Kudos [?]: 8 [0], given: 0

Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 13:54
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.

Kudos [?]: 8 [0], given: 0

SVP
Joined: 11 Mar 2008
Posts: 1632

Kudos [?]: 213 [0], given: 0

Location: Southern California
Schools: Chicago (dinged), Tuck (November), Columbia (RD)
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 14:35
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.

I'm impressed, but I still think your advice only applies to H/S/W.
_________________

Check out the new Career Forum
http://gmatclub.com/forum/133

Kudos [?]: 213 [0], given: 0

GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5464

Kudos [?]: 408 [0], given: 14

Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 14:37
deowl, that was very encouraging to hear, thank you for sharing!
_________________

****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969

Kudos [?]: 408 [0], given: 14

GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5464

Kudos [?]: 408 [0], given: 14

Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 14:57
terp06 wrote:
I'm impressed, but I still think your advice only applies to H/S/W.

PE possibly. Though I have heard people getting into PE easier with a Yale name too (spoke with many admits saying they chose Yale because of the "brand name" of the parent school and how it will help them get into PE).

But VC is a different beast altogether. I think location and parent school strength will factor in. For example, Haas does quite well for a school of its size and not being in the "M7" in getting people into VC internships and jobs. The key factor there is the Berkeley name, the close proximity to Sand Hill Road, and the high-tech/bio-tech industry sucking in a lot of VC money in the region (and Berkeley being a top engineering and top life-sciences school, with connections to a top medical school, UCSF).

I'm pretty sure MIT has similar ties into any tech VCs in the Boston area... but I'm not an expert in that school or region, so I'll let someone wiser to enlighten us.
_________________

****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969

Kudos [?]: 408 [0], given: 14

Manager
Joined: 25 Jan 2008
Posts: 166

Kudos [?]: 12 [0], given: 0

Location: San Francisco, CA
Schools: Wharton, Chicago
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 15:06
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.

Kudos [?]: 12 [0], given: 0

Senior Manager
Joined: 09 Mar 2006
Posts: 444

Kudos [?]: 8 [0], given: 0

Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 15:35
cougarblue wrote:

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.

I define a nice PE internship as an offer my friends were extremity pleased with. I don't know what the actual sizes of the firms are or the amount of money they have under management in each and every case, though.

School brand does matter a lot for these industries indeed. My friends from PE told me that you seem to meet people from hsw only on these interviews. In VC you almost never see any other candidates so I can't tell from my own experiences.

Kudos [?]: 8 [0], given: 0

Manager
Joined: 10 Dec 2007
Posts: 65

Kudos [?]: 3 [0], given: 0

Schools: UNC class of 2010
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 16:04
PE at a top notch firm like blackstone is incredible. A friend of mine from HS was the only undergrad hired at blackstone one year (from a decent but def not ivey school, although im guessing he was top in his entire class). At age 22 he had a personal driver to get him around NYC. He did work like crazy though.

I just started at UNC and attended the Carolina Venture Fellows presentation. This is very similar to the Kaufman fellows program. You apply to the program via an essay and your resume. Over half are selected as finalists. The finalists then get to interview with VC firms for a summer and second year gig. Over 50% of the finalists get selected for a VC internship. Im totally gung ho for a VC gig and the presentation was kind of odd, they were almost like, look if you get a VC internship you need to take it b/c its such a great deal. Apparently last year a couple of people who got offers refused as they were holding out for a google job I think it was. Anyway, if youre not quite lucky enough to get into HSW and are interested in VC, you should check out UNC, they have a great entrepreneurship program, founded the Venture Capital Investment Competition , and are right next to the Research Triangle Park...lots of VC's and tech start ups. I'll let you guys know if I secure a VC internship and how the process worked.

Kudos [?]: 3 [0], given: 0

SVP
Joined: 31 Jul 2006
Posts: 2302

Kudos [?]: 481 [0], given: 0

Schools: Darden
Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 16:25
deowl wrote:
cougarblue wrote:

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.

I define a nice PE internship as an offer my friends were extremity pleased with. I don't know what the actual sizes of the firms are or the amount of money they have under management in each and every case, though.

School brand does matter a lot for these industries indeed. My friends from PE told me that you seem to meet people from hsw only on these interviews. In VC you almost never see any other candidates so I can't tell from my own experiences.

I agree that you definitely have to distinguish between some of the smaller shops and the bigger blue-chip type PE shops. Just as a comparison, most people at bulge bracket banks would jump at the opportunity to join a Blackstone, TPG or KKR, but might not be enticed by many of the smaller shops out (of course, this year, with banks in the crapper, who knows). As others have pointed out, PE/HF/VC profits are largely dependant on the the size of the pile of cash they have under management. As everyone knows, the top firms manage really big piles and dole out boatloads in compensation, but people seem not to realize that the smaller firms often pay substantially less than bulge bracket banks (again, this year may be an anomoly). Pay is only one factor, but it does reflect the relative difficulty of landing such jobs. work load can vary a lot as well. Jr. level folks at top PE shops often work as hard as their counterparts at big bank. Associates at smaller firms might work less, but that's also true of associates at many middle market banks (can vary a lot in both cases).

Kudos [?]: 481 [0], given: 0

Senior Manager
Joined: 09 Mar 2006
Posts: 444

Kudos [?]: 8 [0], given: 0

Re: Switching into PE/VC? [#permalink]

### Show Tags

28 Jul 2008, 16:53
pelihu wrote:

I agree that you definitely have to distinguish between some of the smaller shops and the bigger blue-chip type PE shops. Just as a comparison, most people at bulge bracket banks would jump at the opportunity to join a Blackstone, TPG or KKR, but might not be enticed by many of the smaller shops out (of course, this year, with banks in the crapper, who knows). As others have pointed out, PE/HF/VC profits are largely dependant on the the size of the pile of cash they have under management. As everyone knows, the top firms manage really big piles and dole out boatloads in compensation, but people seem not to realize that the smaller firms often pay substantially less than bulge bracket banks (again, this year may be an anomoly). Pay is only one factor, but it does reflect the relative difficulty of landing such jobs. work load can vary a lot as well. Jr. level folks at top PE shops often work as hard as their counterparts at big bank. Associates at smaller firms might work less, but that's also true of associates at many middle market banks (can vary a lot in both cases).

Absolutely. No doubt about it. But don't forget, we are talking here about getting one's foot in the door of the VC/PE industry rather then lending a job at KKR. What I am trying to say is that the first is perfectly doable. That's all.

Kudos [?]: 8 [0], given: 0

Re: Switching into PE/VC?   [#permalink] 28 Jul 2008, 16:53

Go to page   Previous    1   2   3   4   5    Next  [ 90 posts ]

Display posts from previous: Sort by

# Switching into PE/VC?

 new topic post reply Question banks Downloads My Bookmarks Reviews Important topics

 Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.