All,
The path College -> IB -> PE has been discussed to death and it is clear that right after college, a two-year investment banking stint positions you best for private equity.
Likewise, a (direct) post-MBA PE position is (generally speaking) only for the students at top-tier schools who have prior PE experience.
What has not been discussed often, is the best path to PE if you do not belong to the two groups mentioned above (read: 90% of the MBA students, even at top schools). Say, for example, that I want to get involved in PE long-term. What is the best career path to take when admitted to a top business school? (Disclaimer: I am in this position right now)
I believe the following options are available:
1. INVESTMENT BANKING ASSOCIATE
Many people on this forum claim that the chances of IBD Associates / VPs moving to the buy-side are slim. I have seen a few respected members (@mergersandacquisitions78) (@Dingdong08) comment that this transfer does happen from time to time. Could any of these people please elaborate? Furthermore, I assume that most of these PE shops are financial / modelling focused (vs operational).
2. MANAGEMENT CONSULTING ASSOCIATE
Another option that has not been mentioned often is post-MBA MBB consultant to PE. I would assume that especially for operation-focused private equity firms, hiring experienced MBB guys with industry knowledge could be valuable to the firm, perhaps even more so than Investment Banking Associates / VPs. Would love to see more information on this.
3. INDUSTRY / F500 MANAGER
This option has not been discussed often, and I would assume that the switch from Industry / F500 to PE hardly ever happens. It can be argued that professionals with industry knowledge could be valuable for an operation-focused PE firm as well.
Could anybody shed some light on this? I assume the move from IBD MD and MBB partner to PE does happen quite often, given it is mostly relationship based on the higher levels. A few LinkedIn searches seem to confirm this. The sad truth, however, is that most of the people will never make it to MD / Partner. Is there any hope for MBA students who have not taken the traditional Ivy League -> IBD -> PE path?