Trouble with recruiting
So ever since recruiting kicked off last week, I've gotten only one interview and it's getting to me. I work at a generalist EB in NY and most of the kids are getting way more. I went to an Ivy and had a decent GPA and felt like my headhunter interviews went well. Also have strong references (2 associates in close with) that would 100% back me up if called.
I've been getting a steady stream of emails from two recruiters gauging interest in places but never an actual interview. I've followed up with all the recruiters this week and still not getting anything. At a loss as to what to do at this point, seems like many funds are wrapping up or done. Mainly looking for MM PE
Anything advice on what to do or what went wrong?
PE recruiting is more random than you think. Just because you have the "ideal fit" on paper, doesn't mean you are guaranteed an interview.
That said, let me just share my personal experiences with you a little bit:
I recruited my first year (follow the herd) and did horrible in the only two interviews I received during the first wave. These were at upper MM firms that I desperately wanted to work at but didn't even make it past the second round. Second wave, 2-3 months later, I received one ore two more. Made it to the super day but no offer. Third wave didn't come until after summer. I received no interviews and thought I was going to be stuck in banking. Then in October, got a random call from a recruiter and got the offer in November after a live deal case study (this is very rare).
What is the point of all this shit above? It can take a year or longer to secure a PE offer. Be fucking patient and don't freak out. I'll let you stew on this one for a bit: you are freaking out after a week or so, what do you think you are going to do when a deal halts due to some minor reps & warranty $ from a co-investor? What happens when your portfolio company completely misses target? Are you going to knock on the CEO's door? Patience and legwork is key.
Think this is a good piece of advice for everyone to take to heart at this time of year...
As a second year analyst, who had a similar experience to you (except it was one interview and I realized I didn't know what the f--- it was I was spewing out to recruiters/the one shop I spoke to), should I be freaking out? I assumed around Oct/Nov that 2017 opportunities would start rolling in, but frankly that wasn't the case at all. Then January comes up, and 2018 kicks off (all MF and upper MM shops, of which I didn't expect to get anyways), and now I'm applying to both 2018 and 2017 roles basically as soon as an email comes in...I'm about as ready as I can be, but candidly any extra "study" time is okay in my book!
I know the 2nd years at my shop last year were essentially interviewing until the moment they left, so I'm not completely in need of a xanax prescription just yet....but christ dude I swear I can't even get to sleep anymore!
Great piece of advice here. +1 SB
You could always leave an anonymous note in front of the CEO's door: "I know what you did".
No more missed targets.
I prefer public shaming.
Ruthless.
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