Do "top analysts" really get more interviews for PE?
Kind of a dumb question but... I always see comments that if "you're a top analyst in your group" you'll be in better shape for PE recruiting and such. How do headhunters know who the top analysts in the group are, especially w/ PE recruiting happening so early? Do the best analysts in a group actually get more PE looks than the average/worst analysts?
Headhunters will call people in your group (either second years or your staffer) and make them force rank the first year analyst class ahead of recruiting. Also recommendations from your MDs are helpful.
How would a staffer possibly be able to rank 100+ analysts a month into their 1st year?
Staffers are in each group so they probs only have 5-15 analysts to deal with
Your staffer is typically a VP in your group and is only "responsible" for like 5-8 analysts per class. I don't know of any firms that have a single staffer across 100+ analysts. That would be chaos.
with on cycle happening earlier and earlier (September of first year), is this still a widespread practice? nobody would even know the analysts or have any basis to rank on, and it also seems like headhunters would know that
To be clear, none of this should imply you need to "compete" with other analysts in your class. Just put your head down and do good work for folks and they will reciprocate. If you have a bad rep for being an asshole you won't get anywhere.
So maybe they call your staffer and force rank, but in my experience, the group you’re in usually matters more in terms of getting the interview. like if you’re in GS TMT/FIG, MS M&A, PJT etc. etc. even the worst kid in those groups (and there are some idiots who slip through the cracks) are going to get interviews and likely even some decent offers. maybe for like Citi Industrials it’s more of a matter of separating the cream from the milk or whatever the expression is, and that’s where recruiters call in - but it’s a lot of effort for the headhunters to go and do that for all the non-top groups out in the street. most of them just ask what bucket you’re in (bonus) and idk if any actually bother to check.
Top analysts get more fckd at work in general. It’s a perverse incentive system. The bottomist bucket guy at my EB read a book at his desk during the day.
Honestly the smart move in second year, the money isn't worth it
Banking is like a pie eating contest where the prize for winning is more pie
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