Delayed Buyside recruiting?

Based on the most helpful WSO content, here's what you need to know about delaying buyside recruiting:

1. First-Year vs. Second-Year Recruiting:

   • Many first-year analysts recruit near the start of their first year, often before they have significant deal experience. This can be challenging as they may need to "BS" about transactions they've been on during interviews.
   • There is a trend where some analysts consider delaying their PE recruiting until their second year to gain more experience and technical expertise. This can be beneficial as first-years often lack deal experience and technical skills relative to second-years.

2. Lateral Moves:

   • If you start at a MM bank with limited exit opportunities, lateraling to a better bank can be a strategic move. This can set up a stronger path for buyside recruiting.
   • The lateraling process is unstructured and can take time. It's common to lose a year in the process, but this can be advantageous for early PE recruiting.

3. Recruiting Cycles:

   • Second-year recruiting tends to be less structured with two main waves: one at the beginning of the year and another at the end of the second semester. In between, many people find roles through networking and opportunistic searches.

4. Strategic Considerations:

   • If you are considering delaying your buyside recruiting, focus on building your skill set and profile for business school applications. This can enhance your chances during the recruiting process.
   • Lateral moves can help you get "on model" and improve your buy-side path from the start.

In summary, delaying buyside recruiting can be a viable strategy, especially if you aim to gain more experience or move to a better bank. It's essential to weigh the pros and cons and consider your long-term career goals.

Sources: Lateraling Guide for Investment Banking, Please help me understand PE recruiting in the lower middle market., Defer PE Recruiting Until Second-Year?, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, PE Lateral Recruiting Advice/Stories/Help?