Is PE off the table for me?
Currently a senior at a lower semi target (or non target depending who you ask) going to start my FT analyst stint this summer at a mid tier BB (Citi/BofA). Let my grades slip pretty bad after getting my SA offer bc I never planned to go to B-school and didn't realize how important they were for on-cycle PE recruiting. Basically it looks like I'm gonna just barely graduate with a 3.5 GPA (might even have to round up from a 3.48 or something).
Has anyone here made it to the buyside from a similar situation? Looking at old threads on this has been tweaking me out - should I just kiss PE goodbye completely? Would I have a better shot sitting out on-cycle and trying to land something off cycle?
I've been heavily involved in building a nonprofit started by my friend that has since received international attention and been featured in Forbes/NYT/TIME etc, and I also started a major finance club at my school so I think I could spin a pretty convincing story to explain why my GPA slipped if given an interview. I'm just worried I won't even get a chance to explain myself if I can't make it past the headhunters/resume screen cuz of my GPA.Not targeting MF/UMM, would be happy with any halfway decent MM. any stories/advice would be huge. Thanks fellas
TL;DR - is it possible to get on cycle PE looks with a ~3.5 GPA from a low tier semitarget?
Sure you shouldn't have let your grades slipped but a 3.5 isn't that bad. Probably won't get into Carlyle but plenty of other good firms.
On cycle probably tough but you'll be fine for off cycle if you're ok with MM/LMM. PE definitely not off the table just have to calibrate to lower Fund size where your BB name will help get you in the door.
Are you diversity? If so those are stellar stats. If not, MM/LMM it is
sadly im an asian male so no. when you say MM/LMM do you mean like ~1B fund size or like random 15-man shops? Seen the term "MM" thrown around very generously on the LinkedIn pages of tiny funds and am still kinda confused how to tell how legit/respectable a firm is other than word of mouth. Any rules of thumb that might help?
are you fr? it’s that much of a difference if you’re diverse or not, fucking hell man that’s outrageous
A 3.5 really isn’t that bad, though I’d be afraid you’ll stop putting in effort the second you get your offer.
what's your major? might be fine if STEM... (not incl. business degrees). either way, you'll be ok for MM pe (~<1b fund size), if you have a particular sector focus, maybe you can swing a little bigger for the right fund that likes your story. you'll notice that most of your peers, even from BBs, will end up exiting to these fund sizes anyways. Very, very few folks make it to the MFs (and most honestly don't put in the leg work / are interested in even going for them tbh) - this forum is overly obsessed with them for whatever reason... i think 3.7 is the minimum for large funds in on cycle.
It might be a bit harder for you but it is definitely very doable especially considering your involvement. If you listen to the WSO podcast some of the people interviewed ended up in PE from non-target terrible gpa scenarios. If the recruiters don't give you the time of day, focus on making direct connections.
You will be totally fine for MM PE off-cycle..
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