Here's a great article on the incoming class of Monkeys and the PE recruitment process -
Highlights
- Scott Rostan of Training the Street says their company alone will train 12,000 Analysts
- Mega PE HH focus on about 1,000-1,500 of these
- 5-10% will get offers
- 1st year MF associate comp mostly 210k-250k, with some at 300+k!
- BB MD's starting to get pissed at "brain drain"/early poaching (old news)
http://www.fins.com/Finance/Articles/SB1306271609…
Had no idea there were so many First Year analysts out there...I find that 12,000 figure a little hard to believe and must include S&T, Cap Markets, etc not just advisory. just goes to show how big the industry is, hope no one out there thought they were too special!
i guess those 90% of analysts without a MF offer will just have to be satisfied with being in the 90th percentile of US household income at the age of 24 instead of the 98th...poor things : (
Does the 12k include back office positions?
12K is reasonable when you think about all the regional firms and boutiques. Maybe they are adding ECM/DCM into things.
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