Hi guys.
So I chose not to recruit my first year, and I'm trying to lock down a third year at my firm. Unfortunately, they don't give guaranteed third year offers until after on-cycle recruiting ends. The head of my team (M&A at an elite boutique) said he'd be willing to pull for me w/ regards to either PE recruiting or a third year during the winter, but I'm curious how this will affect my recruiting chances at upper MM funds.
If I go interview at a fund as a second year without a guaranteed third year offer, just my personal guarantee that I will do banking my third year (and the rec of my senior bankers that I am deserving of a third year at my firm), how do you think this will hurt my chances?
I don't think that PE firms will care if your third year is guaranteed or not. If they ask, or if you want to volunteer the info, then just explain the situation as you did here: that your firm doesn't guarantee third-year offers until after the recruiting cycle but that you have the endorsement and support of the people of your team so you have no reason to believe that it should be an issue. If that's the firm's policy, then that's the firm's policy.
OK. Alternatively, what if your team gives you their full support for a third year, but there's headcount issues in the geography / new team you want to work in? Could you say something similar, that you have been given the backing for a third year, but that the group you want to work in doesn't have a headcount need so you are planning on switching banks for your last year?
Not sure I understand. By "switching banks", do you mean recruiting for PE as an alternative to pursuing a third year offer in this new group that has the headcount issue? If so, why bring it up the headcount issue at all?
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