PE/VC is bad idea for your MBA goals - 工管

Okay folks, we have had some requests that we talk about Private Equity and
Venture Capital. But as always, Im gonna try to keep eeeeveryone on their
toes.
Lots of clients last year (and a few this year) are VERY excited about
Private Equity (PE) and Venture Capital (VC). It is their short term goal,
their long term goal…and everything in between. Well I am here to tell you
that often times, this is a BAD idea. Lets avoid PE and VC. Why? Iˆll tell
ya.
Top Three Reasons why PE/VC is a bad idea for your MBA goals
1) It is impossible to get a PE job. There are fewer and fewer of em out
there, and if youˆre counting on a job in PE after your MBA, schools will
worry. Why? Because they are judged (in fact they judge one another) on their
JOB statistics. If you say youˆre gonna get a job (that they donˆt think
you can get) they wont let you into their MBA program. You will present a
risk, and risks from the adcomˆs perspective, are bad.
2) Everyoneˆs doing it. So many people are making this mistake folks—1 out
of every 4 essays I read talks about PE. So…why follow this trend? Not only
is it hard to sell (see #1 above) but even if you DO sell it, you are now in
a VERY competitive pool! Even among the guys who CAN get a job in PE, now you
have to prove…that youˆre better than THOSE dudes are? Thatˆs hard man.
Instead, what about general management, banking, trading…SOMETHING to make
yourself stand out perhaps…
3) Do you have the background for it…really? Most people do not. Sure you
have traded stocks and bonds. Perhaps you have even done a start-up, or
raised money for some companies on the side. But…those things are NOT PE.
And you wont get credit for em, no matter how hard you try, on the PE front.
If you donˆt have the PE background, you are fighting an uphill battle—
perhaps impossibly so.
Hope this helps gang, and good luck!

Jon Frank
HBS 2005
Co-Founder Precision Essay
http://www.precisionessay.com

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