ON-CYCLE OR RERECRUIT
Hi y'all After receiving a return offer at a mid tier IB, i took the return and am excited to start my career in a year. There are some things that have been stressing me out and I would appreciate any feedback/advice from those who have seen how this all works. (Hope this helps answer anyone else's questions in a similar spot)
On-cycle will begin in a year and I've been told it's kind of a "one shot opportunity" that you need to be ready for once it kicks off. I am really interested in Private Equity, but I worry about my banks rep in the eyes of a HH (think WF, DB, UBS, Citi).
On the other side, my internship this summer got me genuinely interested in banking and makes me want to strive for experience at a bank with better deal flow and higher profile deals. If I was able to land this, I know that my deal experience and bank name would improve, but would the chances of a good PE role decrease since I'd be putting recruiting off for a few years?
It's hard to make these decisions and understand any of this when all these timelines move so fast and far in advance. Basically asking if I should pursue on cycle at a mid tier bank to get a good PE offer (UMM+) or try to work in banking for a few years and try to lateral upstream before attempting PE recruiting
Note: understanding that I am just intern and any of the things I said above about how on cycle works could be incorrect so please correct where I may have heard wrong
Bump
.
Haha I’ve previously posted a BofA thread but didn’t end up getting it unfortunately. Truly one of the 4 I put
Citi catching strays
😮💨
bump, same boat curious as well
Congrats on Wells Fargo
Of that type
Is WF really that much worse than DB and UBS when they are both winding down the size of their IB? WF is also hiring a lot of MDs so I’m assuming deal flow will pick up soon? Just an intern so I have very little context.
I’d think they’re at least comparable but i could be completely wrong. I’m unsure on the whole thing and am curious to see what rest of people say (regarding any of these banks)
Bump, in same situation
Bump
Bump
Bump
Still curious!
Bump
I have seen many analysts participate in on-cycle one year after starting banking (i.e., committing to a 3rd year). I don’t think HHs / PE firms care much as long as you have a good reason why.
If you can somehow lateral during your first year, you can probably get more looks from a better bank also. A lot of laterals at my bank did exactly this and it worked out in their favor.
congrats on not Citi
Bump
I would uptier banks if I were you. You will get more looks from more shops if you do, plain and simple. Plus if you are a 2nd or 3rd year analyst, you will wipe the floor with the 1st year analysts that are just getting our of training.
If you do go on-cycle, I would check out the BuysideInsiders site. They have a good post on what to expect in the on-cycle process.
Facere recusandae cupiditate optio quia est. Ut dignissimos vero doloremque commodi tempore neque. Dolore ut iste cumque dolorem.
Repellendus quam alias praesentium est iste delectus laudantium. Maxime qui soluta corrupti nulla est. Eos mollitia omnis numquam ipsum id non aut inventore. Excepturi laboriosam ut nihil.
Quo et quidem qui quidem. Consequatur vitae atque cumque iure quasi. Corporis quos odit voluptate.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Et eius quo error non accusantium velit deleniti a. Quo eaque consequatur et vel velit. Ea aut quia eos maxime ut quasi. Hic sed maiores quasi delectus molestiae est perferendis consequatur. Illum quia id et aliquid.
Aut nemo praesentium dolorem aut provident aut dolorem. Eum pariatur fugit ea et. Quam sequi et qui iste perferendis officiis. Sit voluptatibus ex rerum fuga sapiente sunt.
A et et et delectus eos voluptatem distinctio. Harum reprehenderit veniam maxime vel qui explicabo. Nihil tempora blanditiis voluptatibus rerum.
Omnis autem et sunt velit. Et eos aut consequatur eos ut.