INDUSTRY CHAT: PRIVATE

EQUITY & VENTURE

CAPITAL
Todd Carson, Senior Associate Director, MBA Career
Management

September 2013

KNOWLEDGE FOR ACTION

Agenda
Working with MBACM

Private Equity/Venture Capital

Introductory Overview
Current Trends
Functions and Roles
Firm Relationships
Career Pathways

The Job Search

Offer Statistics
Recruiting Timeline and Strategy

Private Equity/Venture Capital at Wharton

Wharton PE/VC Club
Events and Resources

Q&A
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MBA Career Management: Advising from experience
Todd Carson
Career Advisor, Private Equity & Venture Capital

Pre-Wharton CV
Private Equity: Pension Corporation LLP (London, UK)
Member of investment team responsible for management of $1bn portfolio of
private operating company assets
PC funded with $2.5bn total capital from JP Morgan, JC Flowers, Swiss Re
and others

Investment Banking: Goldman Sachs (London, New York)

EMEA TMT Advisory: worked on advisory mandates for several mega funds
including Blackstone, TPG, Carlyle, and Providence Equity
Prior experience in European High Yield Capital Markets and Fixed Income
Operations

KNOWLEDGE FOR ACTION MBA Career Management 3

Success Story: PE full time offer with no PE experience
Jeff Galletly (WG13)

RECRUITING MISSION
BACKGROUND STRATEGY ACCOMPLISHED

Undergraduate At Wharton VMG Partners Summer

Colgate 2006 100% Core courses Contacting 12 Consumer funds
- Philosophy & Religion PE/VC Club, VP Education led to success at 3.
- Varsity football Rugby captain, SBDC Accepted offer at SF-based
fund: owns Kind Bars, Pirates
Pre-MBA Experience Highly-Targeted Approach
Booty, Pretzel Crisps, Pour La
- PepsiCo - Strategy and M&A, Focused on Consumer funds
Victoire, Mighty Leaf tea
Brand Management Enterprising from Day 1; did
- McKinsey (CPG focus) not wait for FRP or job board Wingate Partners - Full-time
posts Found Jeff through Wharton
Resume book; Generalist fund
Network, Network, Network
liked Strategy & Operating
Proactively leveraged alumni;
background
Built relationships; not I want
Chose for long-term career
a job
path, culture and fit

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MBACM: How Can We Help?

The Problem: In years past, Wharton students struggled to gain traction with
top tier PE firms. Relatively limited support from Career Management

The Solution: MBACM implemented aggressive outreach strategy meeting

Provide Access with top firms to achieve key objectives:
i. Market Wharton MBA talent and source placement opportunities
to Top Private ii. Increase share of pre-MBA Associates of top firms accepting
Equity Firms admission to Wharton
iii. placing them back at top firms post MBA to help increase Wharton
MBA hiring

Result:
Between 2010-2012, 25% of all PE offers were from Top 40 firms
(up from <10%; 150%+ increase)
143% increase in student applications/ acceptances from Top 40
firms
57% of these Top 40 PE firm hires came from candidates whose
prior private equity experience was outside the Top 40

By capital raised during prior 10 years.

KNOWLEDGE FOR ACTION MBA Career Management 5

Private Equity/Venture Capital industry team
Todd Carson Marco Smith
Senior Associate Director Recruiting Relationship Manager
Career Advice Corporate Relationships

Self-assessment & decision making
Strategize best recruiting approach

for variety of employers

Research & Networking tips

Co-manage employer relationships

Industry & Company Insights
with Career Advisor

Resumes, Cover Letter & Interview Prep

Manage recruiting events
Corporate Relationships
Student Support

Develop employer outreach strategy
Assist students with logistics of on-
with RRM campus interview process, job board
Programming postings, etc.

Develop programs for students interested

in PE/VC careers

Collaborate with professional clubs including PE-VC Club, Wharton

Private Equity Partners (WPEP) and others

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Introductory Overview: What is the buy-side?
PE/VC firms invest in companies/assets to make a return

Invest in Companies Operate Companies

Industry/macro research Sit on company boards

Filter candidate companies for Strategic oversight
investment Dictate C-level hiring/firing
Deal structuring and analysis Influence business model/new
Execution and process management markets/products
Managing legal and financial Mergers, acquisitions, divestitures
complexities to close deal Partnering with management

Acquire, operate and exit (sell) companies to earn a profit over the long-term (typically 5 years,
subject to market conditions)
Employ leverage to increase returns; 25% IRR typical benchmark
Goal: return a multiple of the equity invested via increase in company valuation
Achieved via growth/increased profitability, debt reduction/refinancing or higher valuation
multiple (re-rating)

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Venture Capital vs. Private Equity
Private Equity Venture Capital

Target Companies Established operational Start-up entities

entities Conceptual/pre-profit to
Cash flow positive/ leverage- recently profitable
able
Metrics Cash flow Users/click-thrus/idea-driven

Industries Stable cash-flow businesses; High growth industries

(subscriber base, industrial, (internet, biotech, cleantech)
non-cyclical)
Skills needed Broad business knowledge Operational experience >
Strong analytical skills financial wizardry
Related industry/operational Start-up Founder knowledge
experience coveted/required
Transactional experience Functional (sales, marketing,
product, technical) expertise

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Alternative Investments - Summary
Venture Growth Mid-Large Mega
Small Cap
Capital Equity Cap Funds/LBOs
Fund sizes $50M-$1B $250M-$1B $500M-$1B $500M-$10B $10B+
(AUM)
Investment Start-ups Small cap Small cap Established Mature
Targets Sector Sector focus Sector focus entities companies
focus Sector focus
Locations Regional Regional Regional Continental Global

Investment Equity Equity Equity/Debt Equity/Debt Equity/Debt

types

Investment Small teams Small teams Small Sizable teams Broad teams
teams by sector by sector generalist with generalist Sector/
teams or sector focus operational
expertise

In addition to dedicated private equity funds, may house other businesses including
operational consultancies, hedge funds, and real estate funds.

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Stakeholders and Other Entities

Investors (Institutional to private wealth)

Limited Partners Pay management fee to PE firm (0-2% of AUM)

Managers of PE firm; typically based offshore

Deploy capital and make investment decisions
General Partners Receive management fees and share of profit (carry)
Board seat holders
Typically act as advisor to the GP
Composed of Investment Professionals and other staff (CFO,
PE Firm Staff HR or operations professionals)
Receive portion of carry as well as cash compensation

PE firm investments
Portfolio Company Company management operates under oversight of GP

Investment bankers, financiers (relationship banks),

Advisors lawyers, consultants (market/operational), accountants
(tax/structuring)

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 Fund Life Cycle A long term process
Phase 1: Fundraising/Targeting (1 3 years) Phase 3: Exit (1 2 years)

6 24 months 3 months 12 months 1 3 months

Evaluate
Identify Negotiate/ Restructure/ Position
Raise Capital Market Exit
candidates structure optimize for sale
Segments

6-12 months 1 6 months 3 7 years 3 12 months

Phase 2: Investing and Portfolio Management (4- 8 years)

Total: 6 13 years

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Recent Trends

Private Equity Venture Capital

Positives Positives
Growth in fundraising targeting Re-focus on the asset class following
emerging markets ($40bn/20% of recent big wins in social media/tech
total), $25bn of which non-BRIC Growth in interest in
Europe slowly turning the corner Entrepreneurship as a career path

Challenges Challenges
Fundraising bar higher than ever Track record of unimpressive returns
Days of the generalist fund coming Short list of funds dominating the
to an end marquee exits

Minimal headcount growth at Principal level

Concerns around taxation of carried interest

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Roles in Private Equity & Venture Capital

Vice-President/Senior Associate: identify relevant

Investment assets for investment
Professional Analytical ability, investment acumen, deal
experience, judgment, leadership skill

Roles at portfolio companies

Operating
Business development, business plan
Professional implementation, restructuring

Help market the fund to prospective investors

Investor Relations Frequently former investment professionals
In-depth understanding of fund strategy, returns

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Representative outreach list: Summer 2013
MBACM contacted over 150+ firms this summer to reveal hiring needs/trends
3i Group Barclays Capital Goldman Sachs PIA Lake Capital Goldman Sachs PIA
Providence Equity
Abraaj Capital Limited Battery Ventures GP Investments Lee Equity Partners
Partners
Accel-KKR BC Partners GTCR Lindsay Goldberg Ripplewood Holdings
Bessemer Venture
Actis HarbourVest Lovell Minnick Partners The Riverside Company
Partners
Madison Dearborn
Activa Capital Blackstone Harvest Partners Sequoia Capital
Partners
Advent International
Bunker Hill Capital Helios Investments Morgan Stanley Silver Lake
Corporation
Mubadala Development
Alta Communications Canada Pension Plan HIG Capital Starwood Capital Group
Company
Highland Capital
Apax Partners Cressey & Co Norwest Venture Partners TH Lee Partners
Partners

Apollo Management First Reserve Hudson Clean Energy Novitas Capital TA Associates
Bain Capital & Bain General Atlantic Oaktree Capital
KKR TPG
Capital Ventures Partners Management
Global Environment Kleiner Perkins,
Bamboo Finance Permira Warburg Pincus
Fund Caulfield & Byers

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Placement success globally

Edinburgh
Moscow
London
Paris
Toronto Seoul
Beijing
Shanghai
Hong Kong
Dubai
Mexico City Mumbai
Singapore
Jakarta

Lima

Sao Paulo Johannesburg

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Key Take-Aways from Summer Outreach

Wharton part of the a core group of focus schools for the top firms

Route to certain firms unchanged/institutionalized prior PE background +

investment banking (2+2 profile) a pre-requisite for entry to certain mega funds
(eg. KKR, Blackstone, etc.)
Hiring of i-banking Analysts has become more structured; no dialogue with firms
permitted in first year

Firms expressing increased interest in Consulting background; desire for more

diversity of experience in staff; have yet to see this translate into more hiring

Hiring plans flat year-on-year

Period of consolidation continuing but market stabilizing

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PE 2013 Internship Offers
Private Equity
3i EPIC Private Equity Mount Kellett Capital Management
Actis Essex Woodlands NGP Energy Technology Partners
Advent International Corporation Eureka Growth Capital Oaktree Capital Management
American Securities Falcon Investment Advisors One Rock Capital Partners
Aqua Capital Partners Ferrer Freeman & Company Parkman Whaling
Artemis Real Estate Partners Fifth Street Capital Pera Capital
Ascent Capital General Atlantic Partners Principia Management Group
Baring Private Equity Asia Graham Partners Resource Capital Funds
Bastion Infrastructure Group GTIS Partners Sabal Financial Group
Brookfield Asset Management Hamilton Lane Advisors Sofina
CalPERS HDFC AMC Standard Chartered Private Equity
Canada Pension Plan Investment Board Health Evolution Partners Taiyo Pacific Partners LP
Capital Dynamics HgCapital Temasek Holdings (Private) Limited
Carlyle Group Hony Capital Terra Firma Capital Partners Limited
CDH Investments ICV Capital Partners The CapStreet Group
Cerberus Capital Management IFC Asset Management Company Tower Three Partners
CITIC Capital Partners Kaizen Private Equity Trustbridge Partners
Coller Capital Kuramo Capital Management Vinci Partners
Emerging Capital Partners (ECP) LeapFrog Investments Warburg Pincus
Emil Capital Partners Light Beam Capital
EMP Latin America Madison International Realty
Ennovance Capital

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VC 2013 Internship Offers

Venture Capital
Alta Ventures Mexico Lux Capital
Crosslink Capital Maveron
Detroit Venture Partners Oak Investment Partners
DreamIt Ventures Osage Partners
GoodCompany Group RTP Ventures
Greycroft Partners Valor Capital Group
Hasso Plattner Ventures Venrock Associates
Impact Amplifier Vox Capital
Longitude Capital Wharton Entrepreneurship

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Sample Internship: Private Equity
About Warburg Pincus:
Warburg Pincus is a global leader in the industry it helped create: Private Equity. With over 40 years experience, the firm has invested more than
$35 billion in over 600 companies in 30 countries around the world. Warburg Pincus currently invests out of a $15 billion fund raised in 2008.
Warburg Pincus takes a long-term perspective and invests in public and private companies at all stages of development. More information on the
firm and its investments is available at www.warburgpincus.com

Internship Opportunities:
Warburg Pincus is offering internship opportunities in the firms London office during summer 2010 in each of the following investing teams: 1)
Technology, Media & Telecoms (TMT), 2) Central & Eastern Europe (CEE), 3) Healthcare, 4) Energy and 5) Consumer/Industrial. Working alongside
the firm's investment professionals, the role will give an individual interested in private equity an excellent opportunity to experience all aspects of
private equity investing and working with portfolio companies.

Requirements:
All candidates should have a well-developed analytical skill set, probably gained at either a major strategy consulting firm, investment
bank or private equity/investment firm.

TMT Team
Prior experience in Europe and exposure to the TMT or business services sectors are an advantage.
CEE Team
Prior experience in the Central & Eastern European region and exposure to the consumer/retail sector are an advantage. Applicable language skills
would be beneficial.
Healthcare
Prior experience in Europe and exposure to the healthcare sector are required.
Energy
Prior experience in Energy or Natural Resources is required.

Consumer/Industrial
Prior experience in Europe and fluency in French, Italian, Spanish or Portuguese are required. Internship will last 10
weeks so applicants should have required availability.

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Sample Internship: Venture Capital
Battery Ventures Summer Intern Application

Who says VC firms dont hire interns? This summer, Battery Ventures is looking for an all-star intern to help build a variety of web monitoring
tools. Weve had seven IPOs in the past nine months, and need your help to continue building on this success. You will work out of our Silicon
Valley office and spend 20% of your time shadowing members of the investment team and the remaining 80% leading a major internal initiative for
how our firm interprets web and mobile data.

This is a very technical role and you need to be an awesome developer/hacker. We arent picky about which programming languages you prefer,
but you must be comfortable writing code to extract data from a multitude of APIs. Once extracted, you will need to develop an appropriate
storage methodology as well as a light-weight user interface to help us analyze the data in perpetuity.

It goes without saying that you need to be smart, detail-oriented, and hard-working, but you also need to be clever and funny.

This is a paid opportunity, and to apply, please fill out this form.

For more information about Battery Ventures, visit www.battery.com.

* Required

What's your full legal name? *

What name do you preferred to be called? *
What's your email address? *
What's your Twitter handle?
Link to your LinkedIn profile?
Link to your blog or other personal website?
In 200 words or less, please describe your programming experience. *
In 140 characters or less, please explain why you want this job. *
Optional bonus points: make a viddy to tell us more about you and paste the link here.
Note: Viddy is a Battery portfolio company. Check them out in the app store or Viddy.com

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What PE/VC Firms Seek
Analytical Skills Interpersonal Skills Business Judgment
Financial modeling and Teamwork and leadership Commercial mindset
analysis Negotiating/Influencing Entrepreneurial
Strategic research and Listening and questioning Action-oriented &
analysis Trust building and solution-driven
Creativity and problem integrity Strong communication
solving Working with many skills
Transaction/deal stakeholders Professionalism
execution skills and Self awareness and
experience willingness to incorporate
Accounting skills feedback

Overall
Sector specific knowledge/insight Dedication and detail-oriented
Increasing focus on legal skillset High achiever
Strong grasp of financing markets Political ability
Ability to network Passion for investing

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Wharton Private Equity Placement in Context
2010-2012

Between 2010-2012:
214 students accepted offers in private equity (c.8% of all students)
Of these students, the vast majority (86%) had prior finance experience including private equity, real
estate investment, public buy-side (investment management & hedge fund) or investment banking
Remaining 14% coming from consulting and those with relevant industry/business development
experience

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 Career Pathways: The long-term game
If probability of PE/VC search success is low, what are the options?

Typical Long Term Routes to PE/VC

Investment Consulting Intl Markets (eg. In-house M&A Operational

Entrepreneurship
Banking EMEA) Corp. Dev. Experience

Increase Develop Potentially Work on Industry Success in

financial strategy open to other M&A, depth/ start-ups
skills & deal skillset backgrds investments expert can
exp. with strat knowledge translate to
planning VC

Private Equity Venture Capital

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Career Pathways: Fin. Services PE

03-05: Wharton MBA

05-08: Sr Vice President

08-12: Principal

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The Job Search

PRIVATE EQUITY/VENTURE
CAPITAL

KNOWLEDGE FOR ACTION

PE/VC as a career is it for you?

Opportunities Challenges
Skill Development Skill Development
Financial and strategic analysis Steep learning curve
High level strategic opportunities Challenging interview hurdles
Management of cross functional teams Narrow focus - can spend all your time on one portfolio
Industry depth and breadth company

Relationships/People Relationships/People
Deal directly with senior management Multiple stake holders with multiple agendas
Network with top layer of finance industry Political savvy required
Dynamic and motivated peers
Career Path
Career Path Independent development of personal franchise is critical to
Flat structures; unlimited responsibility success
Subject to performance, relatively quick route to equity Progression can be hindered without nurturing supportive
key senior relationships
Other
Other
Variety of industry exposure and varying roles
Competition for jobs
Driving landmark, company defining events
Low tolerance for underperformance; high performance
Compensation at/near highest levels of any industry
thresholds
Prestige
Lifestyle: long hours required when executing; significant
travel including long term postings at portfolio companies
possible

KNOWLEDGE FOR ACTION MBA Career Management 26

Private Equity myth vs. reality
Myth Reality
Salaries are over $500k cash in year one Compensation is strong, but only a few
mega funds pay near that level initially
($150k median salary 2013); compensation
correlated to fund size

Working for a mega fund is the only way to Mega funds dont typically hire post-MBAs,
get into PE but there are scores of other firms which
offer compelling opportunities

PE offers a good lifestyle (and provides Lifestyle at mega funds is similar to bulge-
more free time and money than investment bracket banking; deal execution requires the
banking) same effort regardless of the size

Because of the Wharton MBA, PE shops will Funds are looking for experience.
actively recruit me Employees must add value from day one
(few offer training programs)

PE internships are easily available Managing the PE process is challenging and

requires the right background, hard work,
perseverance, and luck
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 Mature & Enterprise Recruiting

Mature Enterprise
Established employer relationships Developing employer relationships
Annual, steady demand Inconsistent demand year-to-year
Extend multiple offers/yield multiple students Just-in-time hiring
Understand MBA recruiting value prop Less clear on MBA recruiting value prop

Consulting, Banking, Sales & Trading, CPG PE, VC, Media, Retail, Social Impact
Healthcare, Technology, Energy, Hedge funds, Real Estate

Recruiting Employer Info Sessions, Employer Networking Postings, resume book, networking
Strategy / Timing Night, Sponsorships, On Campus Recruiting Throughout year; late in year/summer offers
Heavy Fall/Winter Recruiting

Differentiate vs. other schools Develop compelling Wharton value prop

Wharton
Build market share Expand/maintain vibrant Wharton network
Strategy Manage outreach with clubs/partners
Find new ways for company engagement

Student Prepare for EIS, Interviews, how to decide Networking-intensive

Strategy between firms, etc. Alumni-intensive

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Access to Variety of Firms at Wharton
PE/VC - An Enterprise job search
Mature Enterprise

Description Mega funds Large cap and mid-market funds

2 years of bulge bracket i-banking as Varied; 2+2, i-banking or consulting

an Analyst prior to entry only, corporate development
Typical
Post MBA hiring focused primarily on Open to considering non-PE
Profile returning Associates backgrounds (i-banking/consulting)
Strong placement track record of
Wharton talent

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 Case Study: Consultant VC

99-04: Cornell BS, MEng (Electrical)

04-06: Consultant
Solid business
06-08: Business Dev. foundation

08-10: Wharton MBA (for the summer)

Building Spring Semester Associate (lasted until grad)
experience Brand Ambassador (1st semester of 2nd year)
& credibility
09-10: Individual research studies for top VCs

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PE/VC: Historical Accepted Internship Offer Rates

% of all accepted offers

14

12

10

0
2006 2007 2008 2009 2010 2011 2012 2013

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Source of Internship Offers: Class of 2014

On-Campus Recruiting
Services
1% 1% 1% Job Board Posting
3%
4%
Personal Networking
12% Connection
60% Other

Wharton Alumni Contact

Trek Networking
Connection
18% Career Fair

MBA Career Management

Contact

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Source of Internship Offers: Private Equity

1%
4% 4%
Personal Networking
29% Connection
15% Other

On-Campus Recruiting
Services
Job Board Posting

Wharton Alumni Contact

20%
Return to Previous
27% Employer
Trek Networking
Connection

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Source of Internship Offers: Venture Capital

8%
Other
8%
Wharton Alumni Contact

Personal Networking
15% 46%
Connection
Job Board Posting

Trek Networking
Connection
23%

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Timing of Internship Offers: PE / VC
30

25

20

15

10

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Timing of Full-time Offers: PE / VC

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Tips for Recruiting in PE/VC
Soft skills that differentiate

Cultural/fit is essential nowhere to hide

Research/targeting pays dividends

Presence
Gravitas; dynamic personality

Quality of track record (eg. i-banking transaction history)

Reputation
Would colleagues describe you as a superstar? References are important
Where were you quartiled?

Maturity

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 PE/VC Job Search Resources
Events Resources Location
MBACM One-on-One Advising sessions Todd and MBACM McNeil bldg (basement)
Advising / Student Website Office hours advisor team MBACM Website
Email

Self Awareness Career Leader Sessions Advisors MBACM website

Job Planning Skills/Search Treks Advisors Trek Website

Plan Class/exam, schedule MBACM Spike
MBACM programs: resumes etc PE Club
General Research Search firm presentation (Glocap) Thomson One Lippincott Library
Club internship panels Capital IQ PE/VC Club
Club guide to PE Venture Expert Spike
Vault/wet feet guides Greyhouse Guide MBACM website
PE Industry chat PEHub/Dealbook Career Path
Self directed research on firms

Networking Networking Session 101, 201, Club mentors CapIQ Club

301 Alum mentors Wharton Connect Spike
Business Etiquette: PE Conference (early spring MBACM website
PE Alum Speaker Programs 2011) Wharton Connect for Alum
Business Writing Career Path

Interviewing Interview workshops Interview stream Club

Mock interviews w. Career Fellows MBACM Job Board
Club interviews Spike
On Campus Plan Focused Recruiting Period MBACM MBACM website
Company information sessions (start Q2 12) EIS Spike

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PRIVATE EQUITY/VENUTRE
CAPITAL AT WHARTON
Include Clubs, Research Centers, Coursework, etc.

KNOWLEDGE FOR ACTION

 Wharton PE/VC Club

Wharton Private
Career Treks Workshops & Panels Equity Conference
6 US-based Training The Street Financial Largest of any MBA program
8 international Modeling Held in early February
take place during holidays Interview Prep Sessions Impressive roster of keynote
VC treks to Bay Area, Boston Day in the Life Panels speakers (eg. Stephen
Leadership Opportunities Networking Events Schwarzman, David
Build your own Speaker a week Rubenstein, Carl Thoma,
Howard Marks, David Blitzer)

Provide our 800+ members with resources to learn more about the PE/VC industry
Build relationships with industry professionals
Club Mission: Secure attractive career opportunities for our members
Establish Wharton as a pre-eminent brand in the investment community

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 MBACM and PE/VC Club
MBACM PE/VC CLUB
Employer Relationships Career related
Strong, deep industry relationships and firm Regional treks to meet employers
knowledge Alumni mentoring
Working to bring opportunities to students Mock interviews, club resume review
and match employers with student
population

Career related
Skill Development
Regional treks to meet employers
Education workshops developed to increase
job search skills (resumes, cover letters, Alumni mentoring
interviews, networking, research and online Mock interviews, club resume review
resources, etc.)
Other resources
Resume review process
PE Conference
Advising Networking events
Partner with you on self assessment, Speaker series
setting priorities, job search planning, Student mentoring, coffee chats
career education and matching, coaching,
etc. International opportunities
Events for women
KNOWLEDGE FOR ACTION MBA Career Management 41
 Sample job search timeline
August - October
Self-Assessment
Explore your interests, skills and values

September - February
Research & Strategy
Research and identify target industries, functions and geographies. Create a job search plan.

September - May
General Research
Keep current on recent transactions and industry trends; interview preparation

October - May
Networking
Engage in conversations to build relationships, gather information and identify potential opportunities

January - May
Interviewing
Prepare for and engage in conversations about your interest and qualifications for specific jobs

October - May
Back-up Plan
Evaluate job in context of your risk profile

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Next Steps and Resources

MBACM
Assess time investment/opportunity cost reality check
One-on-One Advising (begins 10/1)
Develop a strategic plan/target list with MBACM
Join the PE/VC Club
Weekly events

CareerPath
Complete your profile and set email preferences
Create job search agents

Wharton Community
Begin networking with your classmates. Stay motivated and
positive!
Read emails from MBACM for important information on
upcoming events and deadlines

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Contact Information

Wharton MBA Career Management

50 McNeil Building, 3718 Locust Walk, 215-898-4383

Website: http://mbacareers.wharton.upenn.edu/student
General Email Inquires: mbacareers@wharton.upenn.edu

Todd Carson, Career Advisor: tcarson@wharton.upenn.edu

Marco Smith, Recruiting Relationship Manager: smmarco@wharton.upenn.edu

Club President Contact info:

Luke Chernosky lukec@wharton.upenn.edu

Alina Costica acostica@wharton.upenn.edu

Chris Eldridge celd@wharton.upenn.edu

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 Q&A
Questions Resources

What is the process for getting a PE job? Attend MBACM sessions and club job search planning events

How do I find lists of firms? MBA website: Greyhouse Guide, Capital IQ, Lippincott library:
Galantes, Venturexpert, Thomson one, Zephyr, Vault, Wikipedia
How do I find alumni? Wharton Community, Linkedin, CareerPath, firm websites

How do I network? Attend networking educations events and develop then refine a
networking strategy with your career advisor, mentors and peers

I am interested in PE and VC-how do I decide? Self assessment, advising appointment, club education events

When can I meet with an advisor? System opens in September, PE/VC appointments for First Years as of
Oct 1
What do I do if there are no jobs at the firm I want? Search for a comparable role at another firm (dont limit yourself)

What are my chances? Probability of success depends on candidate background, preparation,

and luck

What if I have a back up job, but no PE job yet? Work with an advisor to set priorities in the context of your risk profile

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KNOWLEDGE FOR ACTION