2022 On-Cycle

Question

Hi all,
Wanted to put a refresher on this since. Now that most BB/EBs are nearing end of training/starting to get staffed, it's starting to look imminent.

On-cycle for 2020 kicked off mid-October 2018 while last year on-cycle 2021 kicked off September 12, 2019. Even given the pandemic it's possible on-cycle 2022 might start in a month or earlier.

Just wanted to keep this communication fresh. 
SG has reached out to most BB IBD for information but no meetings yet.
If you hear updates please update with HH, which PE firms, which group you're in (BB/MM/EB), etc.

PapillonEC · Accepted Answer

I would assume on-cycle is definitely delayed. By this time last year, people were already meeting / signing up to meet with almost all reputable headhunters. Right now, none of the headhunters are requesting meetings and most haven’t even reached out for information.

laka · Answer

I don't think this is true! From speaking with past successful IB -> MF on-cycle: they all said the main focus on interviews was deal experience and more importantly what they thought about the deal from an investing perspective. Obviously they all nailed the LBO and technicals. Again, maybe they don't particularly ask for deal experience in interviews, but this is what the successful candidates all seemed to confirm.

wakemeup · Answer

would guess firms are aiming to kick off on-cycle in the Fall; if someone tries to kick it off before then I'm sure the firms would all move quickly

the big reason firms are waiting and not recruiting during COVID is because they value seeing people in-person so not sure people are looking forward to starting recruiting in the next few months before employees are back to the office (correlates with vaccination roll-out and general comfort)

everything is pointing to returning after Labor Day but then again if someone starts it then none of that matters

hopefulwallstreet · Answer

It’s been said multiples already but deal experience is not very relevant for on-cycle PE interviews. If you’ve been on the job for 1 month and you are about to announce deal, what do you think you realistically did do drive that process forward? Maybe a few stock price charts and setting up call invites? Interviews are much more about answering technicals correctly, showing that you’re a cultural fit, and you have a genuine interest in investing. I repeat deal experience does not matter.

I know many first years in my banking group that got MF offers without ever even going into a VDR.

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2022 On-Cycle

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2022 On-Cycle

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