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  • For a Carrier Changer..
    From: viveksharma04  Dec 25, 2010 Posts 5

    Hi,

    I am a carrier changer and want to enter into PE market in VC segment. My short term goal is to join the VC fund as an associate and then in long term I would like to start an advisory firm which will create the seed fund to support the Indian IT based start-ups.

    I am from IT consulting background working with one of the big 5 consulting firms and have no background of PE or financial sector. I have selected Wharton as one of my target schools primarily because of its finance intensive curriculum and some of the speciality courses on PE and VC.

    However, with its focus on building the core foundation on general mangement in its first year, I wonder how Wharton can help in getting the Summer Internship which would be very critical in my case.

    Thanks and Regards,

  • Re: For a Carrier Changer..
    From: victormlee  Dec 25, 2010 Posts 2,527
    In reply to

    Vivek,

    Wharton will help you in terms of getting core finance knowledge and skills in an academic setting. There are also several extra-curricular lessons and club-type activities that can help you better familiarize yourself with finance. Of course, there is also the extensive Wharton network which you can leverage.

    All that being said, my honest opinion is that you will have to do more on your own to be most competitive. These days, the VC market is not exactly hiring left and right (some might argue they never were). Oftentimes people interested in the VC area who are successful in getting jobs there have: a) a solid background in finance (e.g. - reputable i-banking experience); b) in-depth expertise/knowledge of a particular field of interest to a VC; c) extensive networks in the VC community; and/or d) readiness to spend a lot of time recruiting and networking during the school year (including sometimes doing an unpaid or low-paid "internship" during the school year).

    Now, I have no idea what your specific situation is, but many from an IT consulting background tend to lack a) and c), above. They may or may not have b).

    In short, the goal is great, and Wharton will get you on a great head start on your career change; you may also need to find other mechanisms in addition to further strengthen your competitiveness against a pool of colleagues and peers who may also attend Wharton with far more extensive professional finance backgrounds. This can certainly be done (and has been done). You just need to be realistic and mentally prepared. Make sure you have a fairly clear game plan; this will be critical to a good application, as well as to getting you set on the right course professionally early on.

    Good luck,

    Victor

    WG '11

  • Re: For a Carrier Changer..
    From: viveksharma04  Dec 25, 2010 Posts 5
    In reply to

    Hi Victor,

    Let me first thank you for prompt and detailed response.

    You are correct on the assessment of my situation. Points a and c mentioned by you are my weak areas. To make the foundation for finance background , I have enrolled myself for the CFA course. Though I understand that CFA is not an ideal course for PE as it is more directed towards asset management, I think it will give me a level playing field to compete with others. Right now I am level one student, I am pretty confident that before starting school I will be able to complete Level 1. And then I will target for Level 2 in December next year.

    There are some courses I have found on the net which target for specifically for PE. But I am not sure about the competitiveness of those courses.

    Do you think that besides VC, I need to expan my goals to other areas as well.

    My goal to move to PE is more driven by my long term aspiration.

  • Re: For a Carrier Changer..
    From: viveksharma04  Dec 25, 2010 Posts 5
    In reply to

    Forgot to mention..as far as point D is concerned, I am more than willing to spend time and energy , without any monetary consideration , in doing internship. As I know time and energy spent now would reap me long term gains.

    Regards,

    Vivek

  • Re: For a Carrier Changer..
    From: viveksharma04  Dec 25, 2010 Posts 5
    In reply to

    One more addition in my trail of replies,and I apologize for that, besides making the foundation for finance , I am also investing time in building the relationship with my school buddy who is now heading the fudraising for one of the realestate Funds in India.I hope this will help in my networking efforts.

    Thanks, Vivek

  • Re: For a Carrier Changer..
    From: victormlee  Dec 25, 2010 Posts 2,527
    In reply to

    My pleasure, Vivek. Great start. With the caveat in mind that I am no expert on VC or PE recruiting, I would suggest that you would get the highest return by starting now to identify in which firms you are interested and how you can start finding common acquaintances through which you can network. My sense is that networking is especially important in the VC/PE world compared to some other industries.

    -Victor

  • Re: For a Carrier Changer..
    From: viveksharma04  Dec 25, 2010 Posts 5
    In reply to

    Thanks Victor, for the time and great advice.

    Regards,

    Vivek

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