Is it normal for analysts to recruit on-cycle after their first year (is it even still considered "on-cycle), or do I have to force myself through all this early headhunting stuff now before I've even begun working?
Just thinking logistically I would rather actually spend a year at the job, rather then begin recruiting for PE now before I even hit the desk.
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To be considered 'on-cycle' it would be recruiting for 2 years out, assuming you're just hitting the desk. That said, there are a ton of quality positions that recruit off-cycle year round, and even the largest funds typically reserve a few spots for off-cycle. If you know exactly what you want and want to recruit now then go for it. Otherwise, don't sweat sitting it out– there will still be a ton of great opportunities, and you won't have to deal with nonsense like 2AM interviews and exploding offers.
Just my $.02, best of luck on whatever you decide.
What about if I started at a LMM and lateral after a year?
So if you're in a 3 year analyst program, it would be fine to do it next year?
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