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Years as an IBD analyst before PE - 2 vs 3
 

GiantsFan2011's picture
IB
 
Points)
 on 1/4/12 at 1:14pm

I am a first year analyst at a BB bank, starting to go through the PE recruitment process. I wanted to get anyone's thoughts on going into PE after 2 years in banking versus 3. I have heard that it is better to go after 2 years because more firms seek first year analysts (meaning you leave after your second year) and obviously the banking lifestyle/work itself isn't very exciting so people want to leave ASAP, but others have told me that is beneficial to have an extra year under your belt for interviews.

Sorry if this has been covered before (if it has, it would be great if someone could post the link to the forum, wasn't able to find anything relevant)

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Pike's picture

Also very interested in this.

IB
 
Points)
 on 1/4/12 at 1:26pm

Also very interested in this. To add, would it be any different coming from a respected MM outside of NY?

Good is the enemy of Great

Hanhzo's picture

How did you start the

(Baboon, 101
 
Points)
 on 1/4/12 at 1:54pm

How did you start the recruiting cycle? Have you been contacted or are you reaching out? I have not gotten any calls e-mails, granted I'm at a MM shop.

GiantsFan2011's picture

Headhunters have reached out

IB
 
Points)
 on 1/4/12 at 2:11pm

Headhunters have reached out and been doing initial meetings with candidates (started around late October), real interview process will apparently start mid February/ early March

Matrick's picture

I was once told by a PE

PE
(King Kong, 1,328
 
Points)
 on 1/4/12 at 2:25pm

I was once told by a PE analyst that the best way is to actually leave after your first year in IB, as you will be a first year analyst at the PE anyhow. The difference, according to him, is though that the pay for first year PE and 2nd year IB Analyst are essentially the same and thus you would get paid the same amount twice instead of having a raise (as in 2nd to 3rd year IB for example). I guess this is a luxury problem to have or to think about, but it gave me something to seriously consider and think about. Especially if you are planning to go to business school, as you then would have 1 year IBD and 2 yrs PE experience and would still be in the rather young side for applicants which, according to HBS guru for example, would put you in an advantageous position for HWS.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Hanhzo's picture

So then essentially I'm

(Baboon, 101
 
Points)
 on 1/4/12 at 2:28pm

So then essentially I'm screwed since I've not been contacted?

CatsLHP's picture

I assume most of these early

IB
 
Points)
 on 1/4/12 at 4:24pm

I assume most of these early interviews are for Megafunds/Top HFs. At least that's what I'm hoping... I was under the assumption MM/Lower MM PE shops recruit closer to a start date.

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