East Coast vs. West Coast : Career in P.E. vs. Founder

[Anonymous]

Anonymous wrote:Physical education teacher? Certainly doesn't matter.

Lol, this is what I thought too.

OP, check out Santa Clara

[Anonymous]

Anonymous wrote:I can’t believe we’re talking about a 16-17 year old kid who dreams of private equity.

I know, it’s sad. We’re going to have a world full of finance majors.

[Anonymous]

My son and literally everyone in his friend group all want finance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can’t believe we’re talking about a 16-17 year old kid who dreams of private equity.

This is the new world of money worship

“new” world? haha! I guess you didn’t grow up in the 80s …

- 1989 high school grad, when most college students I knew dreamed of landing management training program jobs at Goldman, etc

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can’t believe we’re talking about a 16-17 year old kid who dreams of private equity.

This is the new world of money worship

“new” world? haha! I guess you didn’t grow up in the 80s …

- 1989 high school grad, when most college students I knew dreamed of landing management training program jobs at Goldman, etc

Ditto. Not so new.

[Anonymous]

Anonymous wrote:Please help educate me. DS (smart, mathy, CS, yada, yada, yada) is into tech, wants to start a company eventually. He thinks going to a California school will help him achieve that goal. Stanford is the dream (yes, a lottery ticket) but he's willing to go to any California school (UCs, SLACS, whatever) just to be close to other company founders. The risk-averse parent in me wants him to explore fintech and go the p.e. route just in case the founding a company route doesn't pan out. For p.e. route, is it better to be on the East Coast, closer to NYC recruiters? Or, does it not matter? I am concerned options will be limited on the West Coast??

I think perhaps you are confusing PE and VC. PE is not where entrepreneurial folks usually head because it involves buying established companies. VC of course can run the gamut from seed stage to late stage VC funds, but take minority interests and of course focus on start-up companies. That said, plenty of Stanford, Berkeley and other West Coast grads go on to work in P/E.

Look, I agree with your son that location matters. If he attended Stanford, Berkeley, Santa Clara or even San Jose State (even UC Santa Cruz), you are in the heart of the action and able to get internships during the school year and other locational perks. The Clairmont Colleges also do very well, however, not exactly in the heart of the action.

I am not sure why you mention FinTech, which has a start-up ecosystem as well as established companies. There are many fintech companies based in Silicon Valley (Square, Stripe, etc.).

[Anonymous]

As if PE people have any need for your kid, lol.

[Anonymous]

Anonymous wrote:As if PE people have any need for your kid, lol.

Hey PE firms have plenty of low paid fresh out of college "analysts". I deal with them all the time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As if PE people have any need for your kid, lol.

Hey PE firms have plenty of low paid fresh out of college "analysts". I deal with them all the time.

Yes, this is what my DS is aiming for; two years and then on to B-school. (Hopefully, the economy will turn by then.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:As if PE people have any need for your kid, lol.

Hey PE firms have plenty of low paid fresh out of college "analysts". I deal with them all the time.

They are only low paid compared to the PE VPs and above. For the average college graduate, they are very highly paid as a first job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Please help educate me. DS (smart, mathy, CS, yada, yada, yada) is into tech, wants to start a company eventually. He thinks going to a California school will help him achieve that goal. Stanford is the dream (yes, a lottery ticket) but he's willing to go to any California school (UCs, SLACS, whatever) just to be close to other company founders. The risk-averse parent in me wants him to explore fintech and go the p.e. route just in case the founding a company route doesn't pan out. For p.e. route, is it better to be on the East Coast, closer to NYC recruiters? Or, does it not matter? I am concerned options will be limited on the West Coast??

I think perhaps you are confusing PE and VC. PE is not where entrepreneurial folks usually head because it involves buying established companies. VC of course can run the gamut from seed stage to late stage VC funds, but take minority interests and of course focus on start-up companies. That said, plenty of Stanford, Berkeley and other West Coast grads go on to work in P/E.

Look, I agree with your son that location matters. If he attended Stanford, Berkeley, Santa Clara or even San Jose State (even UC Santa Cruz), you are in the heart of the action and able to get internships during the school year and other locational perks. The Clairmont Colleges also do very well, however, not exactly in the heart of the action.

I am not sure why you mention FinTech, which has a start-up ecosystem as well as established companies. There are many fintech companies based in Silicon Valley (Square, Stripe, etc.).

Thanks! OP here, how robust is the PE recruiting from these west coast schools versus east coast schools. My impression is that it is not as integral to their recruiting efforts, and will not go to too much trouble for on-campus recruiting at west coast schools?? This may be wholly off-base, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Please help educate me. DS (smart, mathy, CS, yada, yada, yada) is into tech, wants to start a company eventually. He thinks going to a California school will help him achieve that goal. Stanford is the dream (yes, a lottery ticket) but he's willing to go to any California school (UCs, SLACS, whatever) just to be close to other company founders. The risk-averse parent in me wants him to explore fintech and go the p.e. route just in case the founding a company route doesn't pan out. For p.e. route, is it better to be on the East Coast, closer to NYC recruiters? Or, does it not matter? I am concerned options will be limited on the West Coast??

I think perhaps you are confusing PE and VC. PE is not where entrepreneurial folks usually head because it involves buying established companies. VC of course can run the gamut from seed stage to late stage VC funds, but take minority interests and of course focus on start-up companies. That said, plenty of Stanford, Berkeley and other West Coast grads go on to work in P/E.

Look, I agree with your son that location matters. If he attended Stanford, Berkeley, Santa Clara or even San Jose State (even UC Santa Cruz), you are in the heart of the action and able to get internships during the school year and other locational perks. The Clairmont Colleges also do very well, however, not exactly in the heart of the action.

I am not sure why you mention FinTech, which has a start-up ecosystem as well as established companies. There are many fintech companies based in Silicon Valley (Square, Stripe, etc.).

Thanks! OP here, how robust is the PE recruiting from these west coast schools versus east coast schools. My impression is that it is not as integral to their recruiting efforts, and will not go to too much trouble for on-campus recruiting at west coast schools?? This may be wholly off-base, though.

Again...why are you fixated on PE which does not sound at all what your kid wants to do?

There are many West Coast PE firms based out of LA and San Fran, and middle-market buyout shops in Seattle, Denver and San Diego. Berkeley and Stanford are popular spots for the Blackstones, KKRs of the world...but there are many PEs that won't necessarily do formal on-campus recruiting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Please help educate me. DS (smart, mathy, CS, yada, yada, yada) is into tech, wants to start a company eventually. He thinks going to a California school will help him achieve that goal. Stanford is the dream (yes, a lottery ticket) but he's willing to go to any California school (UCs, SLACS, whatever) just to be close to other company founders. The risk-averse parent in me wants him to explore fintech and go the p.e. route just in case the founding a company route doesn't pan out. For p.e. route, is it better to be on the East Coast, closer to NYC recruiters? Or, does it not matter? I am concerned options will be limited on the West Coast??

I think perhaps you are confusing PE and VC. PE is not where entrepreneurial folks usually head because it involves buying established companies. VC of course can run the gamut from seed stage to late stage VC funds, but take minority interests and of course focus on start-up companies. That said, plenty of Stanford, Berkeley and other West Coast grads go on to work in P/E.

Look, I agree with your son that location matters. If he attended Stanford, Berkeley, Santa Clara or even San Jose State (even UC Santa Cruz), you are in the heart of the action and able to get internships during the school year and other locational perks. The Clairmont Colleges also do very well, however, not exactly in the heart of the action.

I am not sure why you mention FinTech, which has a start-up ecosystem as well as established companies. There are many fintech companies based in Silicon Valley (Square, Stripe, etc.).

Thanks! OP here, how robust is the PE recruiting from these west coast schools versus east coast schools. My impression is that it is not as integral to their recruiting efforts, and will not go to too much trouble for on-campus recruiting at west coast schools?? This may be wholly off-base, though.

Again...why are you fixated on PE which does not sound at all what your kid wants to do?

There are many West Coast PE firms based out of LA and San Fran, and middle-market buyout shops in Seattle, Denver and San Diego. Berkeley and Stanford are popular spots for the Blackstones, KKRs of the world...but there are many PEs that won't necessarily do formal on-campus recruiting.

Understood, thanks!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can’t believe we’re talking about a 16-17 year old kid who dreams of private equity.

I know, it’s sad. We’re going to have a world full of finance majors.

Right, but a shortage of physical education teachers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can’t believe we’re talking about a 16-17 year old kid who dreams of private equity.

This is the new world of money worship

“new” world? haha! I guess you didn’t grow up in the 80s …

- 1989 high school grad, when most college students I knew dreamed of landing management training program jobs at Goldman, etc

Ditto. Not so new.

The new part is how hard those management track jobs are to get. I went to a SLAC and most of my friends ended up in those training programs or similar programs at fortune 500s.