Did on-cycle just kick off?
Just received what I’m pretty sure is a formal interview invite at THL to come in tomorrow to interview. Is anyone else hearing anything? This one was lower on on my wishlist so ideally would have a crack at other funds first
Was this through a HH?
Can confirm friend also got invite
which HH covers them? is THL the only one that sent anything out so far?
DSP and yes to my knowledge - friend turned down invite and hope others fade too. fuck those guys and hope other firms realize they’re not meaningful enough to follow (which seems to be case given no one else has done anything)
Are firms expecting us to travel to NYC on commencement weekend on a 4 hour notice? This is absurd
Tbh that’s a pretty good screening of the ultra no-life’s that will devote their career and entire life for a PE MF
its not on Zoom?
Fed Chair Jerome Powell said Thursday that longer-term interest rates are likely to be higher as the economy changes and policy is in flux.
Stay away from PE!
This gotta be ragebait
Any updates here
first round interviews are in-person??
This is happening, not just THL anymore
could you share who else sent out invites?
who besides THL is actually interviewing?
From what I can gather, all this activity is just a couple of anonymous accounts trying to stir shit up and panicked kids trying to figure out if this is fr. Even if THL sent out invites, what loser wants to work there? On cycle starts after Harvard graduation, in the first week of June. Until then, ignore these trolls.
“What loser wants to work there”
- Intern in IB
Embarrassing deficiency of critical thinking skills to assume an anonymous user on an Internet forum is going to make an effort to have an accurate position title. Must work at THL. Go back to grinding for those 3rd quartile returns my guy.
I agree/hope you're right, but when has there ever been a past instance of oncycle firms waiting 2+ weeks after the first interview before kicking off (assuming the people claiming they got invites are being fr)? if its anything like prior years, could see it pushing to next week maybe but seems like its only a matter of time
I understand why you'd think that but the firm "kicking off" needs to be compelling enough for other firms to believe that good candidates will be taken off the market. With all due respect, THL is not that place. This is also the first time the process has butted up against graduation and even final exams at schools. It's one thing to ask candidates to miss a vacation, another to miss one of the most important few days of their lives. I know many of the best candidates have communicated to HHs that they will forego the process if it occurs too soon, who have in turn advised firms to hold off as much as possible.
Crazy time to be alive
It did not. Nobody cares about THL - if you go there first, you were never in competition for UMM/MF roles to begin with
Have been explicitly told by HHs / ASOs that APO/H&F/KKR/TPG will not kick off (talk to your firm contacts yourself if you're not convinced)
Just got a 10am ET first round invite from a MF, good luck everyone
Which?
This is false. People need to stop spreading misinformation
cap
Any updates here? You guys flying in?
Yes don’t feel like we have a choice tbh
Why would one fly into NYC when no other firms have kicked off processes and have clearly indicated hesitancy to do it grad weekend?
Just spoke a HH covering tpg and thoma. It ain’t happening td
Regardless of whether this ostensible move is important enough to kick off the dominos in the middle of graduation weekends, I'm just going to caution everyone downplaying THL and how "competitive" interviewees there are.
In my experience the average IB prospect has a very skewed view of how even elite banking groups place and how competitive the funnel is for MF and even UMM seats compared to the swath of fairly replaceable Analysts at "prestigious" groups. I have some pessimism about THL as a firm but a lot of you are talking reckless compared to where your prospects will be a week or so after on-cycle; a $6bn fund with a near auto-accept at HBS and an internal promotion path is not something to sneeze at. There (or much, much worse) but for the grace of God go you.
I think most of the animosity stems from them being assholes and kicking off their process this early.
I had few friends go to THL back in the day; I would be heavily cautious about going there. The backlog for promotions there is huge. Keep in mind the firm is not an expanding firm in the sense that their largest fund size was 10+ years ago; there aren't partner seats that are reasonable to attain there. Also, THL is a 3rd quartile JAMMBO firm, much better spots to be if the goal is MM/UMM - think the logic of going MM/UMM is that you go to a place with high growth and interesting strategy - THL doesn't fit either. THL is doing their whole rebrand, but they are fundamentally generalist guys in terms of the team's backgrounds.
They launched a fund X fundraising for $ 6.25 Bn almost a year ago, and have heard they haven't had much success yet. Rough fundraising environment, but there are still MM/UMM firms raising money in this 4- 6 Bn range.
Ultimately, think if you are going to go to a MM/UMM place, there are a lot of names I would pick over THL.
Just trying to caution people from being too gung-ho about on-cycle. Ultimately, people on this forum are all very new to their careers, and just want to give full facts or at least the other side of the argument for THL before you decide to commit 2 years of your life to it.
I don't even disagree with much of this except for how it misses the point regarding attitude. Snootiness about THL can turn into refusing a first round at, e.g., Brightstar (their last raise was flat too), which can turn into being relatively fucked 48 hours after "real" on-cycle kickoff because you think your grades and GS Consumer offer entitles you to KKR or bust with TPG as a safety.
Expectations and understanding of industry dynamics can be way off for kids this age, especially when they've inhaled interview guides and a limited set of firms for BB/EB recruiting, all of which have plentiful seats in comparison to viable PE landing spots.
For the tippy-top groups, the perception is accurate. Reposting from prior threads:
MS M&A: 2 CD&R, 2 H&F, 1 Blackstone PE, 1 TPG, 1 GTCR, 1 Berkshire, 1 KKR Media
PJT RX: 5 APO PE (all during on-cycle), Rest MFs/UMM
GS TMT: Thoma Bravo, H&F, TPG, Vista, CD&R, Silver Lake, Apax, Franciso Partners, Permira
EVR RX: 2 APO PE, KKR, H&F, Bain Cap PE, 2 Centerbridge
GS FIG: H&F, Carlyle, Apollo FIG, CD&R, WP
Especially considering most of these groups have 10 analysts per class
GS FIG had APO PE + APO FIG (on-cycle), H&F (on-cycle), Permira, Carlyle, CD&R, General Atlantic in 2023 analyst class. Very similar for 2022.
Again, these are literally 5 of the best...10 or so placing groups on the street. If the average JP Morgan sector group buyside kid starts rejecting even the average $3-5B fund on-cycle because he was the valedictorian at Westlake Windsor Plainsboro Advanced Technical Math and Science for Gifted Kids Boarding Academy and then had a 3.8 in college and so feels like anything that's not mega is beneath him, he might have to end up scouring $1B funds off-cycle pretty fast.
(Separately, surprised more kinds in those groups didn't go HF, especially PJT RX. These figures all from one year?)
Definitely not a near-accept at HBS by any means. Still place well relative to peer funds but they’re nowhere near Bain/Berkshire. Lot more folks have started going to Wharton, but gives you very good odds at HSW. Promotion path potentially exists but as the other poster mentioned, fund growth trajectory seems to have stalled out (so even if you could stay, I’m not sure how compelling it is). Have heard a number of senior folks are leaving. Fine spot to do 2-3 years but there are many better options these days.
THL ain’t moving anybody
Don't stress, most of yall won't get the call anyways
I accepted an interview at THL, but havent studied at all for modeling. Am i cooked? should i just be up front. lol maybe it will make me look like a non-hardo crazy kid , but i know very little on how to do these model tests.
Yeah I would start the interview with “I know that you guys usually do modeling tests and I’ve been aware of that for a few months but I haven’t started preparing for those so can we skip it?”
I think they’ll appreciate you being upfront
Are you joking
Because im being serious this is what im about to go through
Some cali sweat is def punching air rnow
most prepared on-cycle candidate
Looking like a non hardo is absolutely not a reason you’ll progress in their process. The whole point of going early is to screen for those who have prepped and done work in advance. If you don’t feel ready, doesn’t make sense to do the interview as it will just set a bad precedent with the HH
Nah you don't understand interviewers are chill like that
Touch grass hardo
don't participate
No need to force yourself to interview right now if you don’t feel ready, especially if every fund worth its salt hasn’t started. Probably better off using the time to prep instead
Spoke with HH and they mirrored what others saying - most clients are hoping to hold off another few weeks before starting (as long as others don't kick off I'm assuming). Coffee chats are still going on though
with all due respect - who at THL made the decision that their offering of employment was worth interrupting senior's last weeks of school/graduation?? I like to imagine their associates/VPs strategizing the kick off as if they were about to make the world shake when I think unfortunately their public perception seems to be the token example of a non-value add jammbo
probably thought it was their moment to shine and get their name out there by kicking off. instead the megafunds don't give a fuck and everyone just publicly shits on them lol
Dolorum iure sit delectus blanditiis fugit qui laudantium. Voluptas et ea aut voluptatem sunt quia impedit sed. Nobis dicta esse et animi. Velit libero omnis commodi et aliquid numquam.
Consequatur quia culpa dolorem unde recusandae. Incidunt provident voluptas totam aut eligendi ab. Nam perspiciatis accusantium eius occaecati sed est. Nihil aut est eius architecto in nam. Dolorem facilis nesciunt aut amet quibusdam laudantium animi.
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...
Soluta accusantium consequatur est necessitatibus suscipit. Sint et quia occaecati libero nobis impedit. Minima reiciendis quos officiis. Dolorem numquam consectetur et et. Sint assumenda atque id sunt accusantium omnis.
Voluptatem molestias autem ratione et veritatis. Omnis alias ipsum inventore doloribus esse sint. Est voluptas explicabo est dolorum voluptatem in non. Eveniet sint dolores eos veritatis. Ut vero non voluptas fuga.
Ex voluptatum hic perferendis aliquam. Eligendi distinctio voluptates facilis facilis. Iste ut itaque quod molestiae sed consequatur. Corrupti aut alias ut itaque sint dolores. Nobis mollitia assumenda unde fuga et voluptates voluptates.
Quo ipsum sed illo temporibus hic. Impedit ullam distinctio consequatur perspiciatis aut recusandae. Vitae distinctio quibusdam est eius impedit et. Officiis neque omnis magni.