What it's Like Working at a TOP Private Equity Firm! (Warburg Pincus)

In this episode, I interview Connor Crandall, who went from Brigham Young University to investment banking at J.P. Morgan and to private equity at Warburg Pincus.
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⏱Timestamps⏱
0:00 - Introduction
00:02:01 - Overview of background
00:02:36 - Breaking into investment banking
00:03:49 - Approach to securing internships early
00:07:02 - Early investments
00:09:00 - Decision to pursue PE
00:10:02 - Recommended financial resources
00:10:45 - Coping with banking challenges
00:11:50 - Daily life as an investment banking analyst
00:14:50 - Preparing for investment banking
00:16:00 - Difference between working in small vs large teams
00:18:18 - Adjusting to banking's demands
00:20:20 - Recruiting resources for banking
00:21:30 - Interest in healthcare
00:23:27 - On-cycle vs off-cycle recruiting for PE
00:23:47 - How to choose PE firms
00:27:09 - Role of headhunters in PE recruiting
00:29:58 - Why Warburg was Connor's top choice
00:33:15 - Preparing for PE interviews
00:37:37 - Warburg's investment strategy
00:39:39 - Criteria for evaluating investments
00:41:49 - Insights into a specific PE investment process
00:47:47 - Walking through a PE deal
00:49:24 - Favorite part of the job in PE
00:50:40 - What made PE worth it
00:51:44 - Surprises and challenges in PE
00:53:54 - Involvement in portfolio companies post-acquisition
01:02:38 - Advice for aspiring finance professionals
01:04:13 - Personal lessons from PE
01:07:07 - Overcoming mistakes
01:08:00 - AI's impact on private equity
01:12:21 - Reasons for pursuing an MBA
01:14:50 - Why growth equity as next step
01:19:24 - Alternate universe
01:19:55 - Influential mentor
01:21:30 - Advice to younger self
01:23:01 - Outro
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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[@rareliquid]

🧑‍🏫Wharton & Wall Street Prep PE Certificate Program🧑‍🏫 ► Use code RARELIQUID for up to $500 OFF ► secure.enroll.wharton.wallstreetprep.com/referral/fkx0rrss/s2yqD1GUkwps4u5h 🍎Sign up for my courses🍎 ► How to get into MBA programs: forms.gle/9yEyycuP7NnQBjue8 ► How to get into investment banking: forms.gle/wt4cZrezbxVgNzGUA ► How to get into management consulting: forms.gle/MmPxUqur7vBschUu9

[@generalmcmuffin10]

Ben been killing it lately bringing these conversations to the masses. Keep it up!

[@rareliquid]

🙌

[@engene-zm5po]

These podcasts are really helpful! Great questions

[@RandageJr]

Loving these

[@Sssssamuel]

The questions are great. The answers match the quality of the questions. Thank you so much.

[@dondatrader5609]

This is great! Lots of insights

[@aseempalekar1904]

Could you ask PE guys what they look for in diligence, as well as how they ranked PE firms going into on-cycle and what informed those decisions ie (geography, fund strategy, sector/industry focus, etc)

[@waltermacaulay9976]

Ben, thank you for these! The conversations are great and your level of preparation for the discussions shines through. Would be great if you could speak with someone at Wharton with hedge fund/public markets experience. Keep up the great work and wishing you all the best!

[@deez994]

PE is soul crushing

[@MS-il7oy]

Loved the video

[@arjunmahajan2537]

Awesome videos. Love from India!

[@taxu79]

Nice interview ben

[@user-yw2mu7fk4l]

Thanks bro, your content gave me more insight to break into investment banking and PE. My question is. Do we have to get CFA certoficate to break into them

[@ambiirnyc]

this is great thank you

[@amonifinau4048]

Thank you!

[@carlosdopazo7919]

You should interview someone who went directly to private equity from college.

[@rareliquid]

will try to find someone like that

[@user-ts7uf7cr8o]

Great video! but the timestamp titles seem to not match the content 😮

[@chi6168]

Is it true that most talents go to tech instead of finance now?

[@davidc4408]

What degree is best for private equity hiring- math degree, accounting degree, business degree, management degree, electrical engineering degree?

[@betweenherenthere]

primary major in finance or accounting 100%; double major in either international bus, business intelligence, statistics, mathematics. minor is optional imo unless @ not super known school, fill it with one of the options up there^. focus on extracurricular like case studies, clubs etc. through ur uni. although it is about the degree overall, its about how you apply it & ur experience that makes u valuable, if that makes sense lol. employers look, for example, at if u worked as a cashier (works with money), started an llc, relevant classes, if you invest. whats ur experience is what they want. hope this helps & good luck!

[@nickylooho]

I really enjoyed this podcast, the conversation was engaging. Since Connor interned at a search fund and it sort of helped him in his career, you should interview a former search fund entrepreneur who is currently CEO. I am a searcher myself and my private banking days have helped me raise a search fund. Loving the channel Ben!

[@nickylooho]

My suggestion is basically interview someone who has already bought a company with their search fund 🙂

[@nickylooho]

I meant that you should bring someone who bought a company with their search fund :)

[@kwasinator]

How old was he when graduate BYU?

[@user-hb2ku5oq5r]

Ben:Thank you¡¡

[@brandono903]

33:40 incredibly based

[@MS-il7oy]

👏

[@kevinsuh5313]

PE FTW!

[@naritzify]

Interviewee could have actually provided hours range

[@rareliquid]

will try to push for this more in future interviews

[@remuslupin9]

I find it hard to believe that a 9 year old was fascinated by purchasing a stock

[@paullee9982]

8th grade…

[@remuslupin9]

@@paullee9982 Point stands.

[@beno1071]

13-14 years old

[@Azblatte]

You say, "Im curious to know" almost everytime every interview, id stay away from it. Keep these casual

[@RickJamesMemorialKitchen]

Apex nice white guy from byu

[@y.g.1313]

Junk, random chat by very junior people, nothing accomplished, except being a small cog in a big wheel.

[@rareliquid]

who hurt u

[@Jack-td3yy]

lmao they're gonna be making more money than you ever will