Given how much of a black box the PE recruiting cycle is, I thought it would be nice to have one thread where users can post regarding updates to the 2021 on-cycle process. For example, if folks could give updates about recent firm events they’ve been to, I know that everybody would appreciate the information.
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Be ready to go as early as this weekend. Not a guarantee it'll happen but you never know. I've heard from multiple friends and sources that most of the MFs are ready... It'll likely kick off again with a SF-based fund (GG, Thoma Bravo) coming out to NYC on a whim to interview kids, then everyone will go. That's how it happened the past few years. Good luck to those of you about to go through this shit show
TA Associates
Some serious advice -- if it's a surprise to you that on-cycle is kicking off, don't go to interviews, don't burn any bridges with head hunters, and don't freak out.
The people who will land jobs in the next couple of days are not surprised. They have multiple touchpoints with the firms launching through coffee chats and cocktail hours, they've been prepping all summer, already met with HHs and are in the absolute best groups on WS. They're also probably not on WSO right now. If this isn't you, that's fine. It wasn't me.
There will be plenty of opportunities to move to the buyside later this year and throughout your careers. You don't need to feel anxiety about locking in an offer for two years from now, three weeks into your first job out of college just because roughly 100 kids will over the next few days.
-- Sincerely,
A second year analyst who watched this circus play out last year, pulled his hair out and was offered interviews with TPG and Apollo 6+ months later... because funds will underhire... because there's risk involved in hiring exclusively applicants who don't yet know how to do the job they're being hired to do.. even if they have otherwise spotless resumes..
FYI - TA has been running a process for an immediate 2019 / 2020 start. This could be what you're hearing about, or they're kicking off since their interviewers are ramped up anyways.
Do invites normally come out in waves, or is it safe to say that if you didn't get anything tonight you're SOL?
Aaaaand that was too little too late
Do we tell headhunters we want off cycle opportunities for megafunds or just sit out until 2020 on cycle for summer 2021 start dates?
Assuming you're a first year analyst and are not interested in on-cycle 2021 I'd recommend just laying low till this craziness dies down. Spend your time preparing for headhunter introductions and then reach out to them once this process is over. They'll have much more time for you. At that point you can tell them you're interested in off-cycle opportunities and/or participating in next year's 2022 on-cycle process.
how long does the on-cycle process usually last? And when does "off-cycle" officially start generally?