Hey guys!
I just cleared my level III and wanted to get into PE/IB. How do i prepare myself? What are these guys looking for?
Take the caia now
lol, no.
How old are you, that is your educational/work background, are you any good? Etc etc. Assuming you really want an answer, these details are quite material.
i got into pe/ib as soon as i gave l3 and cleared
Top 5 MBA for PE. Top 15 for IB is ok (though BB IB you’ll need top 5-10).
I interviewed as a non-traditional hire for one of each lately, one small PE, and a MM IB who is one of the strongest in its industry. What I got from it was PE is very hard to crack without IB experience (they hired an ex banker). IB is possible but you need to bring very strong industry experience. Before I showed up, I studied every deal their team did in the last year (they asked some very detailed questions which I was able to answer), memorized all the key metrics, and formed my own opinion on the major ones. I got asked repeatedly to walk them through a very specific type of valuation model used in my field and I did it no problem.
Both don’t really care about the CFA… I think out of the 12 or so total people who interviewed me, 1 asked me about it and I said, “felt like it was a quick and easy way to learn the basics of finance without going back to school” and pushed forward. If they don’t have it, their bosses don’t have it, and peers at other firms don’t have it, it’s not worth explaining. Since I didn’t go the traditional route, I wanted to make them comfortable, no need to create a division.
I got super close to an offer… they said as soon as a 1-2 year analyst leaves, I’m in without any more interviews because the MD (who I didn’t meet with) wanted someone with just a bit more experience. I had 1 live offer and several more coming, so I couldn’t wait. Rather not say what and where, but wasn’t IB.
PE and IB are very different. You should first educate yourself on the diff between the two and choose which route you want to go. Within PE there is the real estate PE and venture capital PE.
True, i might even push it to top20 for IB now…The saying goes…if you got an IB job out of top5 MBA program, you’re looked as “damn it was that tough for you man that you settled with IB?”
Lots of people from top MBA programs go in as corporate developer or corp strategy for tech firms - much higher pay and you actually have life. Or people go into mgmt consulting. It is really strange. People who are not in high finance put IB jobs on a gold platter but once you are in position to take either IB or other finance jobs in tech or consulting, it is no brainer to AVOID IB at almost all costs.
^true. my relative went to work at google over a bunch of other high finance offers
This dude I worked with went from my group in management consulting to HBS to a slightly higher ranked management consultancy. . . I was like wtf? lol
Meanwhile, my classmate at school who was 1 yr ahead of me did ~4 years M&A niche IB, then went straight to McKinsey (without any MBA) … not too shabby
Yes I have 1 year of experience as an equity analyst in a Trading firm in Dubai. Currently working in a local bank as a credit analyst for past 8 months. Not that good as my learning curve has been short and I am looking at roles more client facing. Education = Bachelors degree in Accountancy and Finance from a Heriot-Watt University Dubai Campus. Age - 22.
Yes I have 1 year of experience as an equity analyst in a Trading firm in Dubai. Currently working in a local bank as a credit analyst for past 8 months. Not that good as my learning curve has been short and I am looking at roles more client facing. Education = Bachelors degree in Accountancy and Finance from a Heriot-Watt University Dubai Campus. Age - 22.
What were your strategy and background? Any tips?
so you have 1 year as an equity analyst & are working as a credit analyst at a local bank at 22? They are going to wonder why you have moved around so much. And based on what i read online, dont most of the jobs in the ME go to like the royal families spoiled stupid kids? Your best bet would be to reborn as a royal family member, thats what I would do. Reset button bro
edit: do not i repeat, do NOT be reborn as a maid from the philippines in the ME when you hit the reset button
what about being born as Barron Trump … lol that guy
^ that would also help good plan. Or a Rothschild/Kennedy/Clinton/Koch. Basically just dont be reborn poor, and be reborn rich and you should be about 1/2 way there
It does go to the rich kids out here …that is why I want to jump somewhere else. Bro I am Asian here and I am not entitled to that jobs as I am not a local from this country. So bro give me a genuine solution
honest answer? you probably wont get into PE/IB
As a fellow CFA person here is my take. My reply above still stands - that you need to first differentiate between IB and PE. I am assuming you want venture capital PE, which is buy side and these folks have some spectacular looking resumes. IB on the other hand is sell side and here in the US, with luck people have gotten into smaller shops. But at minimum you should know some accounting - GAAP, pro-forma, fully understand the relationships of the financial statements - and modeling.
No one in IB or venture funds or real estate funds or hedge funds care about CFA. They want to know what can you do for them? Can you model? can you do pro-forma? They don’t care about LIFO vs FIFO or FCFE vs FCFF stuff or residual income.