Am a second year MBB BA/AC/A , where middle bucket is given to 80%+ people (myself included). Will this close the door to PE recruiting for UMM/ MF ? Which funds might be more open to a middle bucket analyst than others ?
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The top UMM/MF funds are probably out of consideration since the ones that hire consultants all weight this heavily, but there are decent ones like Altamont that are definitely still feasible.
How the fuck would they know if you're top middle or bottom bucket lol
At top funds that hire consultants (Advent, Berkshire, etc) they’ll ask for your review and typically do significant back channel diligence on you. This is especially true for off-cycle. There’s a few posts on WSO that explain this in more depth.
Does this mean would not have a problem for on cycle as opposed to off cycle ?
Not sure if it completely closes the door, but having FE or the M/B equivalent certainly seemed to help in HHs sending across the better consultant-focused funds (Advent, H&F, etc.)
You do not have to be top bucket, no. I have several friends from Bain that went to UMM and MF shops without being FE.
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We rejected a middle bucket when he was a doubt and the review came in. Not every fund asks though and not every fund cares. More than FE doesn’t really help though. I was CO throughout and it was only a checkbox basically as long as you were FE+
At Bain, FE is considered top bucket. You have CO which is very rare (in the Bain performance deck, it says that they might not even have one in each class, some offices don't even do it). SC+ is middle bucket.
Depends on the office for London CO is not that rare, still probably well below <20% of class. Since we are a bunch of Bainies here, do funds care about being promoted early or just FE+ rating suffices? Usually those go hand in hand but on the offchance you do not get promoted because work is getting slower and you can't get an at bat in time.
My perspective is US only, FYI. FE+ rating is sufficient. This is because getting an early direct promote to Consultant from SAC required signing on for another year, and if LT knows that you're going to go to a PE fund, then even if you outperform, you wouldn't get the early direct promote.
IDK how London works, but as long as you were FE in the previous cycle, you were able to early direct promote to full consultant.
Or you could have been like me, got promoted to SAC and then left a month later lol
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