How much importance does being mid/top bucket have for lateraling or PE recruiting
Just the above, thanks so much for anyone who might have any info on the question being asked or experience
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Everyone asks, no one really validates, beyond asking your references at your current bank. Not as relevant for lateraling, but make sure you have your ducks in a row for when Carlyle prods your VP about your class rank.
That said, to the extent it’s disclosed, top is expected, middle is okay if you’re in a strong group, low is pretty close to a deal-breaker (chances are, you probably don’t want to be in finance anyways if you’re bottom). PE funds have extremely high opinions of themselves and find it hard to stomach hiring someone who was an ‘average’ (or worse) performer at a firm they see as beneath them (IB).
How would they know? They wouldn’t even tell me my rank at my bank
Depends on the bank, I suppose. But most folks have a pretty good sense, even if it’s not officially / publicly bucketed, especially when your reference is someone who’s involved in bonus allocation (e.g., an MD).
How is top bucket expected? Aside from not even being able to actually answer this question during most on-cycle seasons, do firms really expect people to be getting top bucket their first year? I've heard that at some banks that it's far more difficult for an AN1 to get top bucket just as a function of seniority versus A2s and A3s.
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