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- 🍋 Money Talks, MBAs Walk
🍋 Money Talks, MBAs Walk
Why more private equity associates are skipping business school, plus Amazon's latest prime feature plus Messi joining the MLS.
Together With
“There are lots of talented people who never achieve anything, but not that many determined people who don't.” — Paul Graham
Good Morning! Lionel Messi is following the finance flock to Miami. He's teaming up with Inter Miami in the MLS and striking deals with Apple and Adidas along the way. Ticket prices increased more than tenfold in what could be Messi’s first game for the club on July 21st.
CNN is in the midst of a shakeup after its CEO left the network. Amazon is planning an ad tier for Prime Video in the war for streaming profits. And NYC turned into the inside of a hookah lounge yesterday, and was recorded to have the the worst air quality out of any city in the world.
1. Story of the Day: Money Talks, MBA Walks
Everyone who’s scoured Wall Street Oasis for career advice knows the so-called golden ticket to Wall Street success. You check the box by going to a target school and getting a coveted investment banking analyst gig, before seeking greener pastures in private equity.
And while going back to school about five years down the track to get an MBA used to be seen as a valuable resume stamp, it turns out candidates and private equity firms alike aren’t seeing as much value from business schools as they’re used to.
In fact, firms used to kick newly-minted associates out so they could get a well-rounded education in business school. But more firms are offering direct promotion paths from associates. And young talent is prioritizing the two years of dealmaking experience over going back to school.
And it’s not just the top firms doing this. Vista Equity Partners, a tech-focused firm with almost $100 billion in assets under management, is promoting more young talent without MBAs. And even at KKR and Blackstone, many senior leaders didn’t go to business school.
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