Accepting an offer and interviewing
Hi all,
I've spent a year doing private equity in a regional office but the commute was around 3.5-4 hours a day. Didn't enjoy the culture and was absolutely shattered so waited until bonus came and decided to leave. I spent my summer networking with other funds and was told that by September, a lot of roles would be opened for PE.
However, by October all my networking catchups had been pushed and recruiters were telling me instead that Q1 2026 is when companies are looking to hire. I didn't want to be out the market and unemployed heading into 2026 so reached out to headhunters for banking roles and just secured a role doing mid-market M&A.
Ironically, two of the funds I was speaking to have now officially kicked off their process and I got called to come and see a partner for one of the funds in 3 weeks time.
How do I play this? The timing is unfortunate but I've spent nearly a year in PE and only took this as a last resort. Do I contact the partner and say I'm back in banking but still open to opportunities? Genuinely had to work given I've got a mortgage on the line but don't want to be seen as someone flakey. My cousin told me this is the best position to be in because you're employed but I keep thinking if I should have just backed myself and held out.
Based on the most helpful WSO content, here's how you can navigate this situation effectively:
Be Transparent but Strategic: When reaching out to the partner, acknowledge your current role in mid-market M&A but frame it as a temporary step to stay active in the market while pursuing your long-term goal of returning to private equity. For example, you could say:
"I recently accepted a role in mid-market M&A to remain active in the market while continuing to pursue opportunities in private equity, which remains my long-term focus. I’m excited about the opportunity to meet with you and discuss how my experience aligns with your team’s needs."
Leverage Your Current Position: Your cousin is right—being employed puts you in a stronger position. It signals stability and reduces the perception of desperation. Use this to your advantage by emphasizing the skills you’re honing in your current role that are transferable to PE, such as deal execution, financial modeling, and client interaction.
Prepare for the Interview: Since you’ve already spent a year in PE, focus on articulating your experience and how it aligns with the fund’s strategy. Be ready to discuss:
Timing and Commitment: Address the timing issue head-on during the interview. Explain that you took the M&A role to ensure financial stability (mortgage, etc.) but that your commitment to PE has never wavered. This shows maturity and responsibility without making you seem flakey.
Network and Mentors: Continue leveraging your network and mentors for advice. As highlighted in WSO threads, having mentors guide you through these transitions can be invaluable for navigating tricky situations like this.
Decision-Making: If you receive an offer from the PE fund, weigh the opportunity carefully. Consider factors like culture, commute, and long-term growth potential. If the fund aligns with your goals, it may be worth making the jump, even if it’s soon after starting your M&A role.
Remember, many professionals face similar crossroads, and how you frame your narrative is key. Stay confident, and good luck!
Sources: Q&A: Private Equity Portfolio Company CFO, The Promised Land of Private Equity Turned out to be a "Monster Land", Basic Questions About PE Recruiting Answered, https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-private-equity-from-banking?customgpt=1, Q&A - Consulting interview prep - firm specific questions
What you typed is fine - I'd just say you're back in banking as you have a mortgage and family to support, but you're still looking to get back to PE and would be willing to jump more quickly than you'd otherwise like to for the right opportunity.
Short stints aren't great but people understand that you have to pay your bills
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