I've heard that you should not do this because it is exhausting, you should stick to what you really want, etc. But how feasible is this? Do the major MF headhunters do both PE and HF or mostly specialize?
I start later this summer and just wanted to get a feel for my options. Really appreciate any advice on this, thanks a lot.
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to a headhunter it will look like youre scatter brained and dont know what you want to do, you really need to be gung-ho about what youre interested in and stick with it to get the best interviews in that respective field. the exception would be if youre from a top group (GS TMT/FIG, MS M&A, BX M&A/Restructuring) where you can pretty much do whatever you want.
agreed - I wouldn't play the field, you risk losing out on all opportunities
It's hard because the two require two very different mindsets. I went to a top group and from what I saw, those who focused on one or the other generally ended up doing better in the process.
Headhunters do both but some have more big PE clients whereas some have more big HF clients. They'll give you more flexibility at a top group because they want your commission, but they would still prefer that you choose.
to echo what abc said, if you are really dead set on doing both PE and HF, you can tell the headhunters that are 90% PE-focused (e.g. CPI, Henkel) that you're dead-set on PE, and tell the headhunters that are 90% HF-focused (e.g. SearchOne, Dynamics though they have a few great PE clients). It becomes harder with ones that do both like Amity however, and there you should say one or another (based on which of their clients are more appealing to you) unless if you're a top candidate on paper from a top group
From what I've seen, you can get burnt if you're wishy washy about it. Plus, if you want to go to a hedge fund, you really need to want it. It can't be faked because the recruiters and the HFs themselves will see right through you. If you don't invest at all in your own account and you don't seriously follow the public markets, it'll be really tough to get into a hedge fund. I'd also advise that you shouldn't pursue a hedge fund gig unless you're seriously into the markets.
Of course, if you're a restructuring guy and you're looking to go into a loan-to-own type of fund or something like that, it's a different story. But, that's pretty niche.
Telling you right now, much better to just pick one. 100% of the time, if i like a resume and the candidate has expressed interest in both, the recruiters tell me the candidate doesn't know what he/she wants to do and may not be that committed to private equity. That's a big deal because if the candidate makes it to final rounds and takes 30 minutes of each partners' time, gets the offer and rejects it, it's a big egg on my face and partners are annoyed they wasted time... so i almost will never include those candidates in a hiring process.
Possible to Recruit for both HF and PE? (Originally Posted: 04/07/2015)
As the title implies, I'm wondering whether it's possible to recruit for both PE as well as HFs as a 1st year banking analyst. How do you handle interactions with headhunters, and what do you tell them about your interests? Are there certain headhunters that only handle HFs, or do all headhunters handle a mix of PE and HF?
Thanks in advance.
Yes, you can. However, it's best to stick to express interest in just one (either PE or HF) when speaking to a particular headhunter. Generally, the headhunter wants to feel like you are focused and know what you want. Saying you want both won't help.
The larger, reputable headhunters will handle a mix of both PE and HF, but will largely have a reputation focused on one or the other. You should figure out beforehand who their major clients are and match up your top targets to those funds. You may have to let ago a few lower priority PE / HF options in order to pursue your highest priority opportunities.
Yes - just don't tell them about your willingness to do both. This shouldn't be a huge issue as they all have strong suits in one or another anyway.
In the meantime I would continue talking to people in the industry, reading up on what the differences are, etc for your own sake to figure this out a little more as well.
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