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    Let's say I'm a 2nd year Analyst at an investment bank in M&A. What would I need to move to a private equity firm and what level would I start at?

    Also, how does salary between Investment banking and private equity differ?

    And do private equity firms visit universities like the banks do? Do they offer internships for undergrads? And lastly if they do which Unis and which firms?

    Sorry for all the questions, any help would be greatly appreciated!
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    (Original post by Axlerod)
    Let's say I'm a 2nd year Analyst at an investment bank in M&A. What would I need to move to a private equity firm and what level would I start at?

    Also, how does salary between Investment banking and private equity differ?

    And do private equity firms visit universities like the banks do? Do they offer internships for undergrads? And lastly if they do which Unis and which firms?

    Sorry for all the questions, any help would be greatly appreciated!
    1. If you're at a top bank (GS/MS/JPM/BAML or one of the elite boutiques) or in a top team at a lower bank, you'll have headhunters start reaching out to you via email or phone.

    Pretty much all recruiting for the buyside is done by headhunters. You give them your preferences (Megafund vs Middle market; HF vs PE; LBO vs Distressed vs Growth Equity) and then they set up informal 'chats' where they assess your candidacy. If they deem you good enough, your CV is then passed on to the recruiting team at the buyside shop.

    Switching over in Europe is more lax than in the US where you literally HAVE to get involved in the process 6 months into your analyst stint. Here, the window is usually 1.5 years in til about Associate 2-3 (i.e. 5-6 years after uni).

    You'd start as a pre-MBA Associate.

    2. Salary+bonus at middle market firms will be in line with IBD or slightly above. Megafunds pay a LOT more but it's offset by the similar hectic hours you'd have in IBD. That's not really the focus though.

    The upside is in the 'carried interest' within the firm. You'll usually have a set amount of carry granted to you per year in different funds. This 'carry' is your personal distribution of the 20% the firm as a whole keeps as profit after they've realised investments. It's not normally paid out until 3-6 years later. But if you're at a large fund or have a large share at a smaller fund, the carry can be in the millions.

    3. PE firms typically only hire out of investment banks or strategy consulting houses. But, Blackstone has a summer internship scheme you can apply for at uni as well as a full time position. Terra Firma is another that has a structured graduate scheme where you rotate around the business from back office to the investment team. Blackstone only visit Oxford and Cambridge as far as I'm aware but their recent hires have mostly been from European unis.

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    (Original post by Princepieman)
    1. If you're at a top bank (GS/MS/JPM/BAML or one of the elite boutiques) or in a top team at a lower bank, you'll have headhunters start reaching out to you via email or phone.

    Pretty much all recruiting for the buyside is done by headhunters. You give them your preferences (Megafund vs Middle market; HF vs PE; LBO vs Distressed vs Growth Equity) and then they set up informal 'chats' where they assess your candidacy. If they deem you good enough, your CV is then passed on to the recruiting team at the buyside shop.

    Switching over in Europe is more lax than in the US where you literally HAVE to get involved in the process 6 months into your analyst stint. Here, the window is usually 1.5 years in til about Associate 2-3 (i.e. 5-6 years after uni).

    You'd start as a pre-MBA Associate.

    2. Salary+bonus at middle market firms will be in line with IBD or slightly above. Megafunds pay a LOT more but it's offset by the similar hectic hours you'd have in IBD. That's not really the focus though.

    The upside is in the 'carried interest' within the firm. You'll usually have a set amount of carry granted to you per year in different funds. This 'carry' is your personal distribution of the 20% the firm as a whole keeps as profit after they've realised investments. It's not normally paid out until 3-6 years later. But if you're at a large fund or have a large share at a smaller fund, the carry can be in the millions.

    3. PE firms typically only hire out of investment banks or strategy consulting houses. But, Blackstone has a summer internship scheme you can apply for at uni as well as a full time position. Terra Firma is another that has a structured graduate scheme where you rotate around the business from back office to the investment team. Blackstone only visit Oxford and Cambridge as far as I'm aware but their recent hires have mostly been from European unis.

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    Nice one prince lad
 
 
 
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