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17 Dec 2013, 07:58
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I don't want to write out my whole life story so I'm just gonna summarize a bit. Graduated in 2010 from generic public uni, engineering and econ majors, 3.0 GPA. Worked a generic job at a 401k recordkeeper and another at an engineering software distributor before finally landing a position as an engineer at a small 20-person industrial equipment manufacturer (~$10M rev). Been working here for two years and while I'm getting more responsibility there isn't really any way for me to move up in position.
I'm interested in transitioning to private equity, and was planning on applying to b-school next fall, matriculating 2015. 750GMAT, board of directors of an org with about $750k assets, working on starting my own non-profit as well.
I was offered the opportunity to intern at a local boutique private equity firm January-May/June. This is awesome because I know how difficult it is to get a foot in the PE door. The pay is bad, though (obviously) so I'd be taking a significant pay cut. I also have no idea what I would do after the internship; if I got a job in the field that'd be great, but I don't know how easy that would be to do given I only have 6 mos experience. I also think it would look weird on my resume if I did this internship then went back to engineering or something. It could also possibly confuse my b-school story.
So I don't know what to do now. This sounds like an incredible opportunity because these guys are really well connected in my region, but at the same time I feel like I'm jumping off a cliff and just hoping I can find something after. I'm extremely nervous about not being able to find anything after the internship is over but don't want to have this opportunity pass me by.
What would you guys recommend?
I'm interested in transitioning to private equity, and was planning on applying to b-school next fall, matriculating 2015. 750GMAT, board of directors of an org with about $750k assets, working on starting my own non-profit as well.
I was offered the opportunity to intern at a local boutique private equity firm January-May/June. This is awesome because I know how difficult it is to get a foot in the PE door. The pay is bad, though (obviously) so I'd be taking a significant pay cut. I also have no idea what I would do after the internship; if I got a job in the field that'd be great, but I don't know how easy that would be to do given I only have 6 mos experience. I also think it would look weird on my resume if I did this internship then went back to engineering or something. It could also possibly confuse my b-school story.
So I don't know what to do now. This sounds like an incredible opportunity because these guys are really well connected in my region, but at the same time I feel like I'm jumping off a cliff and just hoping I can find something after. I'm extremely nervous about not being able to find anything after the internship is over but don't want to have this opportunity pass me by.
What would you guys recommend?
Updated on: 24 Jan 2014, 04:27
Originally posted by Admissionado on 17 Dec 2013, 08:44.
Last edited by Admissionado on 24 Jan 2014, 04:27, edited 1 time in total.
Last edited by Admissionado on 24 Jan 2014, 04:27, edited 1 time in total.
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If this is REALLY what you want to do, then it's probably worth it to take the risk. I mean it will now be up to you to perform like a superstar and see if you are good at it. And you have this opportunity. After six months who knows what may happen… but will you ever get such another good opportunity again? And once you are in, if people think you are good… well.. you know… 
17 Dec 2013, 12:03
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Yes but there are four scenarios I can see here if I take this opportunity.
Best Case: I work here for 6 months and they decide to bring me on full time as an associate. Would look great on my b-school app, would be able to get LOR from my current engineering job as well as the PE firm. Work this job until I matriculate. Possible downside is that I'd be working at a boutique, unheard of firm and would be lumped in with applicants from top PE firms in the applicant pool.
Second Best Case: Work here for 6 months and use it to find a position elsewhere in PE full time. Would look okay on my b-school app, would be able to get an LOR from my engineering job, possibly the internship, and possibly the new job. Same downsides as above.
Second Worst Case Scenario: Work here for 6 months and use it to find a position in a similar field but not PE, such as at a mezz debt shop or something. Would look awkward on my application and I would have trouble explaining my story. Same LOR's as above.
Worst Case Scenario: Work here for 6 months, can't find anything in the field or a related field. Can't get a job at the firm, either. Have to go back to engineering. Can get LOR's from my current engineering job and the internship but not the new company. My resume looks very awkward and makes telling my story very difficult. Lumped in with PE applicants or engineering consultants, depending on how I try to spin my resume.
So the worst case scenario, which is also the most likely, is what I'm concerned about the most, but the other cases have challenges of their own. How do I deal with these issues?
Best Case: I work here for 6 months and they decide to bring me on full time as an associate. Would look great on my b-school app, would be able to get LOR from my current engineering job as well as the PE firm. Work this job until I matriculate. Possible downside is that I'd be working at a boutique, unheard of firm and would be lumped in with applicants from top PE firms in the applicant pool.
Second Best Case: Work here for 6 months and use it to find a position elsewhere in PE full time. Would look okay on my b-school app, would be able to get an LOR from my engineering job, possibly the internship, and possibly the new job. Same downsides as above.
Second Worst Case Scenario: Work here for 6 months and use it to find a position in a similar field but not PE, such as at a mezz debt shop or something. Would look awkward on my application and I would have trouble explaining my story. Same LOR's as above.
Worst Case Scenario: Work here for 6 months, can't find anything in the field or a related field. Can't get a job at the firm, either. Have to go back to engineering. Can get LOR's from my current engineering job and the internship but not the new company. My resume looks very awkward and makes telling my story very difficult. Lumped in with PE applicants or engineering consultants, depending on how I try to spin my resume.
So the worst case scenario, which is also the most likely, is what I'm concerned about the most, but the other cases have challenges of their own. How do I deal with these issues?
