Chances of breaking into Private Equity
Happy new year AFers,
Hope everyone had a good holiday. I am creating this post in hope some of you more experienced folks here can share some insights on the career path I am considering. I’m from Canada and I currently work as a credit rating analyst in one of the major banks in Canada. The natural (or at least the most common) progression of our role inside of the organization is to transition into corporate banking 3-5 years down the road based on education and experience level. However working on the credit side is not truly my passion, hence I’ve explored other avenues with inside of the organization. I spoke with a senior from the private equity team at our firm, and he mentioned they do hire ppl from time to time by 2 different avenues. One, as an analyst, usually new grads from top schools in Canada. Two, as an associate, they usually hire ppl with more experience for this role. And he recommended me to either go back school for a MBA or trying to get into the corporate banking team and get some years of transactional experience under my belt before applying. But nothing is guaranteed and the competition is extremely high. Close to a quarter of my colleagues have CFA, and maybe another quarter have CPA or MBA. Some of them even have both. And I graduated from a non target school, if it wasn’t for CFA I might never get in here. And looking externally is not really a great alternative either given the opportunities available in the area, I’m not in Toronto or Montreal. Moving is also painful given the fact I have young family and recently bought a house. So I am considering a MBA maybe next year, and my choices are limited cuz I can’t afford to go full time. Based on my research the only target school I am able to do part time in my city is Queen’s university, but they’re not the best MBA, probably ranking the lower spectrum of the target school based on what I heard ( could be wrong).
So if I do this MBA and maybe also get in to corporate banking, what do you think my chances of getting into PE are after I followed thru the plan? And any alternative you could recommend?
Study together. Pass together.
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