Gauging opinion on whether or not to be open with coworkers about receiving a summer 2023 PE offer.
For additional context, will be up for promotion to associate next bonus but don't plan to quit until closer to the start date.
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No one fucking cares
Thanks for what it’s worth my bank promotes a lot of A2A and PE recruiting is not entirely open.
is this blair
If your offer is post-associate promote, pretty common to keep quiet about it, get the promote, and then leave for PE later on. It's not like you leave Jan 15, summer is long enough away that it doesn't look dishonest.
However the A2A bonus is almost always a 12 month clawback, so might want to set that aside (+extra money as they will ask for the taxes back too) and not touch it.
Your last analyst bonus will typically be higher if they think you're staying though, and no clawback there
There is very limited upside to saying anything and a whole lot of downside. Unless you have a really stellar personal relationship with your entire team, I would keep quiet.
You would get absolutely nothing out of it, only downside
Surprised by the responses here honestly.
I personally needed to give a reference during my interviews before I got an offer (UMM fund), so had to tell my MD I was recruiting. Then had a few mid-level people at my bank get word from mid-level people at this fund as we work with them a lot (“oh we just hired someone from your group” or “oh I just interviewed __”). Then many of the junior guys knew just from helping each other recruit and covering during interviews.
So basically a few people knew immediately and the bank rumor mill is crazy, so felt like it was just easier to be open. Pretty much everyone heard really quickly
I also want to leave on good terms - would rather make sure my current team has time to hire a replacement if they want and prepare staffings so I’m not screwing them when I do leave.
At the end of the day you are becoming a client when you leave to PE, and every single bank (even those not supportive of recruiting) will want you leaving on good terms for that relationship
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