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23 Jul 2008, 21:55
Kudos
Bookmarks
Hi folks,
Out of curiosity, how does one do a career switch from something like MC to PE/VC?
It seems that in reading some of the threads about getting into I-Banking post-MBA:
- having an I-Banking background can help with recruiting process during school
- those who want to switch into IB from something like MC can do so with some focused networking, prep courses prior to starting, strong math/finance grades
Does the same apply to PE/VC?
Thanks,
ac.
Out of curiosity, how does one do a career switch from something like MC to PE/VC?
It seems that in reading some of the threads about getting into I-Banking post-MBA:
- having an I-Banking background can help with recruiting process during school
- those who want to switch into IB from something like MC can do so with some focused networking, prep courses prior to starting, strong math/finance grades
Does the same apply to PE/VC?
Thanks,
ac.
23 Jul 2008, 22:03
Kudos
Bookmarks
ac8706
3 scenarios:
1) Your pre-MBA experience is at a top bulge bracket bank or at McKinsey/Bain/BCG - You will have to network like crazy, but it should be possible out of the M7+Tuck schools. It is by no means guaranteed.
2) Your pre-MBA experience is not at a top bulge bracket bank or at McKinsey/Bain/BCG - You will have to network like crazy, and even then it is very unlikely. It is probably not worth the effort unless you are at H/S/W.
3) Your pre-MBA experience is at a reputable PE shop - you are likely sponsored by your PE firm to get your MBA from H/S/W and you will be returning back to your firm at the Vice President level.
This is of course considering that you are speaking of breaking into PE/VC directly after your MBA. It also assumes that you are speaking of reputable PE/VC firms with histories of good returns - and not a start-up or small-cap PE shop (these will be a lot easier to get into).
The biggest part of this equation, as rhyme mentioned once I believe, is the risk of trying to break into PE if you fall into categories 1) or 2) above. All of your classmates will be lining up investment banking jobs at top banks and you will have to wait until the late Spring to even start recruiting for PE summer internships. Even then, you may or may not get one.
24 Jul 2008, 06:56
Kudos
Bookmarks
PE/VC recruiting is basically this:
If "You were in PE/VC before an MBA"=TRUE {
solid=like a rock;
else
solid=like water;
}
If solid=like a rock {
Then
You have a Network = TRUE;
Else {
You have a Network = FALSE;
}
If You have a Network = TRUE {
Then
PE/VC Job Probability Function = .0009;
Else
PE/VC Job Probability Function = 1x10^-42;
}
Recruiting_Begins();
If solid=YOU SUCK {
while (calls<10,000) {
Network_Like_Mad(Every Day, All The Time);
Foreach(Call(EveryoneInTheWorld())="ACTUAL CONVERSATION")) { calls++; }
}
Pray->God(); // Warning call to null pointer? There is no god?
Backup_Job_Plan->Trash(NOW());
Watch_Everyone_Else_GET(IB);
Watch_Everyone_Else_GET(MC);
Watch_Everyone_Else_GET(GM);
if (male = true) {
Make_Of_Steel(Balls);
else {
Dig_In(Heels);
}
Job_Offer=PE/VC Job Probability Function*calls
}
In short, landing a PE/VC gig is 98% who you know. It's ALL networking.
The biggest issue frankly is that you have to be 120% commited. PE/VC recruit in spring - after IB, after MC, after GM, marketing, hedge funds, commercial finance, leadership programs, after basically everything. To do PE you have to roll the dice - and roll with a big bet. Its not for the risk averse.
If "You were in PE/VC before an MBA"=TRUE {
solid=like a rock;
else
solid=like water;
}
If solid=like a rock {
Then
You have a Network = TRUE;
Else {
You have a Network = FALSE;
}
If You have a Network = TRUE {
Then
PE/VC Job Probability Function = .0009;
Else
PE/VC Job Probability Function = 1x10^-42;
}
Recruiting_Begins();
If solid=YOU SUCK {
while (calls<10,000) {
Network_Like_Mad(Every Day, All The Time);
Foreach(Call(EveryoneInTheWorld())="ACTUAL CONVERSATION")) { calls++; }
}
Pray->God(); // Warning call to null pointer? There is no god?
Backup_Job_Plan->Trash(NOW());
Watch_Everyone_Else_GET(IB);
Watch_Everyone_Else_GET(MC);
Watch_Everyone_Else_GET(GM);
if (male = true) {
Make_Of_Steel(Balls);
else {
Dig_In(Heels);
}
Job_Offer=PE/VC Job Probability Function*calls
}
In short, landing a PE/VC gig is 98% who you know. It's ALL networking.
The biggest issue frankly is that you have to be 120% commited. PE/VC recruit in spring - after IB, after MC, after GM, marketing, hedge funds, commercial finance, leadership programs, after basically everything. To do PE you have to roll the dice - and roll with a big bet. Its not for the risk averse.
