Anyone in Finance / Investment Banking?

[DEANBIGBROTHERALLMIGHTY18]

finance is tough to break in. I skipped the IB route and landed in Private Equity through a miracle. You just stay persistent. For those who want to get in the industry use resources like:
ity
www.mlt.org

They place those who are still in school (grad and undergrad) with internships and job placements into big time finance. If you are trying to get a MBA, they would do test prep for you and look out for scholarships and grants.

This is great.
What the best advice on how to get into private equity for a person who has an MBA from a non-target school and is currently in the military? What would be the best advice on how to position myself for private equity when I get out.

 

[Krisrunner2049]

You got damn near a 4.0 gpa right? Community college is easy as hell.

Maybe in the early 2000sto answer your question...No. These online semesters fukked me up

 

[Frangala]

This is great.
What the best advice on how to get into private equity for a person who has an MBA from a non-target school and is currently in the military? What would be the best advice on how to position myself for private equity when I get out.

Go through the website of the firm directly email either the executive assistant, an associate/vp of the firm. It is extremely difficult if you have no connections however you just have to do the cold call (in this case cold email method) because a lot of PE jobs are not advertised and there is not a lot of turnover because the compensation is good, and it is the final stage for a lot of finance professionals whereas IB is a stepping stone to PE.

Most of the turnover in my experience comes from senior people in one firm who want to branch out and start their own fund/firm. If "junior" jobs are on Linkedin, then I never applied to them because there would be at least 200 applicants in 72 hours (probability is not in your favor). A lot of ppl who get junior jobs got it by doing an internship straight out of undergrad and turned it to a full time position and even return to the position at the firm for those who decide to pursue a MBA or a Master's in Finance.

I would filter down to small PE firms $500 million to $5 billion assets under management because the KKR and Blackstone route is very difficult to get in if 1) you are out of school (post-grad) 2) Come from a non target. My reasoning for targeting smaller firms is 1) there is less competition in terms of applicant pool because the jobs are not advertised 2) There is a higher probability of making it into management/partner long term. You do sacrifice in terms of salary/compensation going to a smaller PE shops as opposed to firms like KKR and Blackrock/Blackstone with 100s of Billions of dollars assets under management. It depends what you value. Start with a small firm and grow with the firm easier route to management/partnership or get paid more at a larger firm with much more corporate politics in terms of ascending to a management/partner position reducing your probability of making it to that level.

 

[DEANBIGBROTHERALLMIGHTY18]

Go through the website of the firm directly email either the executive assistant, an associate/vp of the firm. It is extremely difficult if you have no connections however you just have to do the cold call (in this case cold email method) because a lot of PE jobs are not advertised and there is not a lot of turnover because the compensation is good, and it is the final stage for a lot of finance professionals whereas IB is a stepping stone to PE.

Most of the turnover in my experience comes from senior people in one firm who want to branch out and start their own fund/firm. If "junior" jobs are on Linkedin, then I never applied to them because there would be at least 200 applicants in 72 hours (probability is not in your favor). A lot of ppl who get junior jobs got it by doing an internship straight out of undergrad and turned it to a full time position and even return to the position at the firm for those who decide to pursue a MBA or a Master's in Finance.

I would filter down to small PE firms $500 million to $5 billion assets under management because the KKR and Blackstone route is very difficult to get in if 1) you are out of school (post-grad) 2) Come from a non target. My reasoning for targeting smaller firms is 1) there is less competition in terms of applicant pool because the jobs are not advertised 2) There is a higher probability of making it into management/partner long term. You do sacrifice in terms of salary/compensation going to a smaller PE shops as opposed to firms like KKR and Blackrock/Blackstone with 100s of Billions of dollars assets under management. It depends what you value. Start with a small firm and grow with the firm easier route to management/partnership or get paid more at a larger firm with much more corporate politics in terms of ascending to a management/partner position reducing your probability of making it to that level.

Thanks for the feedback.
1.How is your experience being a black person at one of the PE shops?
2. Are there any skills you suggest I work on developing or refining to make me competitive in the industry? I know DCF models and pitchbook development is important for the sell-side but what about the buy-side ( PE)?

 

[Frangala]

Thanks for the feedback.
1.How is your experience being a black person at one of the PE shops?
2. Are there any skills you suggest I work on developing or refining to make me competitive in the industry? I know DCF models and pitchbook development is important for the sell-side but what about the buy-side ( PE)?

1. Experience as a Black person has been ok not all good and not all bad. I realized that in order for me to make it to a management level within the next ten years I need to go to a diverse firm where they have a track record of promoting Black people to positions of leadership and decision making within the firms and that's tough in an industry where we are something like 2-3% in terms of representation.

2. Know your corporate finance/valuation skills whether it be DCF or Industry comparables. Master those skills.

 

[phcitywarrior]

1. Experience as a Black person has been ok not all good and not all bad. I realized that in order for me to make it to a management level within the next ten years I need to go to a diverse firm where they have a track record of promoting Black people to positions of leadership and decision making within the firms and that's tough in an industry where we are something like 2-3% in terms of representation.

I know you've worked on the continent a bit, have you thought of joining an African based PE shop with African founders not something like Carlyle that just happens to have a Lagos/Jozi office.

 

[Krisrunner2049]

Just started up my td ameritradeboutta teach myself a thing or two

 

[Frangala]

I know you've worked on the continent a bit, have you thought of joining an African based PE shop with African founders not something like Carlyle that just happens to have a Lagos/Jozi office.

Yes I have we will see what opportunities open up.

 

[Astroslik]

Maybe in the early 2000sto answer your question...No. These online semesters fukked me up

Community college has always been easy breh. You were busy chasing p*ssy instead of focusing on your grades. Admit it.

 

[Krisrunner2049]

Community college has always been easy breh. You were busy chasing p*ssy instead of focusing on your grades. Admit it.

My grades didn’t dip til school switched to online, you from a simpler time. And lol You old heads still on my ass about that shyt

 

[Astroslik]

My grades didn’t dip til school switched to online, you from a simpler time. And lol You old heads still on my ass about that shyt

You will be a old head soon and I graduated only 6 years ago and not even 30.

You lil nikkas better take the advice from nikkas who are in positions you want to be in

that’s the problem with you lil nikkas nowadays (2000 babies).

 

[Krisrunner2049]

You will be a old head soon and I graduated only 6 years ago and not even 30.

You lil nikkas better take the advice from nikkas who are in positions you want to be in

that’s the problem with you lil nikkas nowadays (2000 babies).

I try to always respect my elders but you coli old heads have me

I do take in advice beyond “get into usc”. Us 2000 brehs don’t wait for our opportunity we TAKE that shyt, I’ll see you in a few years when I’m the young VP of your firm

 

[South Paw]

I'm a junior at Penn State should be graduating in fall 21 or spring 22 and planning to sit for the cfa part 1 exam. Planning to go the financial analyst route. Pipe dream would be to get into the financial job path for a sports franchise but don't even know how to go about that.

Got laid off and boeing and they're paying for my school through taa so I need an unpaid internship this summer. I know that's a tough thing to find in the finance world. I'm taking 5 classes this semester

 

[South Paw]

Lemme get some advice brehs. I'm still going down this path, Boeing laid me off last year and is paying for my school thats how I ended up here. I'll be graduating next spring. The way my classes work out I'll have the classes for the CFP from penn state when I graduate, just the certificate not actually the exam yet. I am really leaning more towards wanting to be an analyst than a financial planner. I'm just not sure what entry level jobs I should be pursuing once I graduate. I have a internship lined up for this summer and I should be able to hopefully land one more internship for my final semester. It just seems the possibility of landing an analyst job fresh outta school is tough.