Did on cycle just start?
Just got an email from CPI for an “introductory survey.” How long until I’m in an interview room based upon past timelines?
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given its cpi, yes
Yes. This usually means it will happen soon although timing is pretty brutal w Labor Day coming up... After some pleading from many members, we just scheduled this last minute to help those that need guidance and/or want to see if they can get ready in time:
New PE Interview Bootcamp Starts Tomorrow (Sunday) Night, Aug 28
...personally I'd wait a year if it goes this early.
Best of luck to all of you!
Patrick
Same here - just got the CPI email today and haven’t even been on the desk 2 weeks. Based on past threads it sounds like oncycle kicks off 7-9 days after the email, but man I hope that’s not the case.
I think we'll have ~2 weeks. I'm assuming the actual intro calls will start next week
Judging by the fact that HSP just rescheduled all their calls for this weekend, I think there is a decent chance things kick off this week.
Nobody likes/wants that but the fact that the HHs are rushing to have calls is only further building tensions and we all know from previous years that as soon as 1 MF decides to go for it, everyone is going to follow because nobody wants to miss out on candidates.
You might say this is stupid or untrue but look at the prior years. People were saying the exact same shit about how the calls were just to gather info and OCR wouldn’t kick off for weeks, or some anon monkey saying their MF wasn’t planning on interviewing anytime soon.
Just better to be prepared now than have OCR kick off next week and get fucked because you thought you could wait to study.
Bump
Can we maybe get some current PE associates’ takes on this
It is retarded. The quality goes down the further out the candidates are hired (multiple reasons, mainly that it is harder to assess their skills and once they have the next position locked up they aren't as present in the current role)
Incoming at an UMM fund and spoke to someone there recently - they wouldn’t admit it’s happening soon but they said they’re trying to get ready in case it happens soon (which I read as they’re getting ready for it asap).
Based purely on historical data, it’s nearly always been
Sheesh. A lot of signs certainly do seem to be pointing to it all going down soon, but that seems like it would truly disastrous. If people weren't ready for last year's on-cycle after 7-8 months on the desk, I can only imagine how poorly prepared people will be for this (including myself tbh)
I'm not familiar with the on-cycle process so this is a genuine question:
what is there to prepare? Is it just learning how to do an 2-hour case study LBO? Seems like that could be learned in 2 weekends. Why does it take 7-8 months on the desk to be "ready"? Again genuinely wondering as not familiar. .
I haven’t even hit the desk yet what would I even put on my resume lol
For those that got emails, what firm are you at?
Any MBB hear? At M and no one has gotten anything.
B - some people got CPI email but not all (haven't updated job title in last year)
At B(the one known for PE) we have gotten emails from ~3 HH firms
Dude you could have just written if it is Bain or BCG (for the rest of us plebians who don't know which one's known for PE).
At B. Got 2 yesterday from Gold Coast and HSP for Summer ‘24.
When did you start? This summer or last?
At B and I’ve gotten a few
If CPI reached out probably 2-3 week lag time
I would start upping your prep and if you didn’t do anything until now just wait until next year
You can easily get ready in 2-3 weeks…
It's the end of summer. Which PE firms do you think has people around to interview anyone before labor day? (i.e. - none).
The introductory surveys have often been sent out long before any oncycle happens - sometimes months before, FYI. They just want to know a bit more about you
Start prepping more seriously and at minimum you will be well prepared
This is correct. Last year was an absolute shitshow and not normal. Historically these surveys were sent out months in advance
Does this include introductory calls? Scheduling for those are already going out as well now
How should you go about prepping?
Go over your behavioral and technicals, which should be mostly review from IB recruiting. Add in "why PE" and "why X strategy" etc. LBO models will take the bulk of your time - paper LBO should be down before HH meetings, some will ask you, but that takes like 5 minutes to learn - and you should be practicing larger LBO case studies as well. See if your group has any old cases saved down in the folder.
What am I supposed to include in my resume for these forms if I haven’t started on the desk? Have minimal internship deal experience
This is a great and extremely tricky question. Consult with the second years in your group but you really have no choice except to make it focused on your internship (because if you interview now they know you haven’t even hit the desk so anything from now would be absolute BS).
So just over exaggerate what you did in your internship, but you guys are at a big disadvantage because that was so long ago/you really won’t remember specific details if they tear into you. But getting your deal experience talk down is probably the most important part of these interviews, though they may put less weight on it given nobody has any actual experience right now.
How long do we have to turn in these forms?
Best to do it ASAP
Bump
Fill out the form asap. If you didn't receive the email, call them and flag that you're a banking analyst interested in on-cycle and that you would love to set up a time to connect with them (they will then send you the email with the survey).This sounds extra/hardo, but it is critical if things kick off as rapidly (post-emails) as they have in the past 2 cycles. When I recruited, the initial batch of intro call/meeting slots filled up the same day the emails went out. People that didn't receive the email or didn't fill it out ASAP were only able to select later slots (or in some cases none at all). Process kicked off before they even got to meet the headhunters… Hopefully slower/more time this cycle, but best to be safe.
For any new first year reading this, share the emails with your first year class if somebody didn’t get them - sometimes they forgot to email all of us and my class made a tracker where we passed around the surveys so that all of us could speak with all the HHs. They don’t care, if they are emailing you then they will talk to all the first years on your team.
Anything beyond CPI, Oxbridge, and Gold Coast?
I got HSP and ratio too
Also Amity, DSP, SG Partners
Any MBB consultants receive emails?
Anyone in Canada head anything? Reached out awhile back to make sure I was on the radar and CPI said that they would reach out closer to when they were engaging with 2022 grads but haven’t been contacted since.
Should I follow up?
.
From Canada - just received email
This is so wrong lmao
Lol yeah - not sure where this info is from - have been reached back out to by some HH's now
What sort of things should you be solid on before entering this process? I haven’t even updated my resume since my internship. Am I screwed if this starts in the next 2 weeks? How much time do I need to allocate to this prep?
You should look up some guides and speak with some friends who went through OCR-pre-covid if you know anyone (or look up some posts on here from that time).
This is much earlier than the past 2 years (2020 cohort OCR started ~1 year into the job, 2021 cohort started ~8 months in).
2 weeks should be enough but you guys will be at a huge disadvantage given you really have no deal experience/technical knowledge that my class developed in our first 8 months. Meaning you can’t simply skim a guide to get up to speed on technicals or build a few LBOs because most of you haven’t done an LBO yet. As a result, if on-cycle kicks off soon I would bet that a huge amount of first years will be extremely underprepared, which could play to your advantage if you do spend time prepping.
You need to get your resume fixed ASAP and speak with HHs, which is like a basic interview (tell me about yourself, what funds do you want, etc.). Speak to the second years in your group and ask them for their resumes so you can copy the PE template. Then I would focus on getting your deal talk down (for whatever deals you did in your internship), getting your behavorals down, studying up on the 400 question guide, and practicing building a simple LBO. They will probably put more weight on the behavorals given your class’ lack of experience, but you should practice the other stuff.
The folks with strong technical backgrounds from undergrad coursework probably will stand out (think the guys who went to Wharton, Ivey). I'd prepare heavily if I didn't attend such programs.
What tf do we put on our resume's when we just started in our groups and have 0 deal experience? Just a general description and then just college internships?
Do you need to be able to build an LBO and three statement model from scratch? With debt schedules and everything?
If you wait a year do you get the same looks as someone in their first year? What’s the trade off of waiting if you’re going to be more prepared and more certain in what you want in a year?
interested in this
You’ll never be fully prepared, so if you can get to like 80% + reasonable conviction in wanting to do PE (if that’s a question at all) it’s probably worth a shot rather than dragging it out. Don’t think waiting necessarily affects the looks you get, if anything HH will have more info beyond school/group to recommend you to their clients like deal experience, class rank, etc (so do a good job!). You’ll just be expected to know more and present as if you have another year of experience (which you will have, so just be ready to back up what you say you know / deals you’ve done)
At some point the trade off is whether you’re willing to stay in banking for 3 vs 2 years, or if you want to keep it to 2 years understanding you’ll recruit in off cycle (honestly not bad given how many places don’t fill their entire class upfront + other great opps, can basically opt into off cycle via HH at any time and they’ll tell you who’s running processes that might be of interest), or just how “certain” you want to feel about making a decision. Off cycle can be a pain bc it’s more drawn out and places don’t have timing pressure to give you an offer until you get a competing offer, but you do end up with more time to get to know them so could be the move if your banking limit is 2 years AND you want more conviction. If you don’t mind another year of banking and your dream is working at BX etc or you’d just prefer a shorter, more concentrated process after more time to diligence the landscape/stew on life, it’s probably worth the wait. You might even get an extra long break between jobs depending on when your bank pays out bonuses!
If you plan on waiting a year/doing off-cycle, should you still update your info into the portals or reach back out to any HHs to communicate this preference?
Just reply and tell them you’re very interested in PE but want to hold off until [next on cycle / off cycle]. Some surveys let you indicate timing preference so you can go ahead and fill it out so it’s on record, especially if you want to do off cycle vs waiting a whole year where they’ll reach out again. Either way, HH will get your preferences when relevant and test / reaffirm / update those preferences in an intro meeting before passing opportunities to you
When does off-cycle typically happen?
No, relax
clown
Based on the past 2 years, OCR would kick off 1-2 weeks after this.
Now, you guys have zero experience and many groups haven’t even hit the desk yet, so this timeline does seem improbable. However, they also told us this past year that OCR would wait a few weeks to kick off and then it literally kicked off 1 week after the HHs reached out, so I would definitely be preparing now.
Would the funds themselves not be annoyed about on cycle kicking off so soon? From what I understand end of August is a big vacation month in PE, so I can’t imagine funds being happy if they had to be interviewing candidates before labor day
Read the last comment on this thread right now.
Nobody wants on-cycle to kick off. But think about it logically - as soon as one MF jumps the gun and decides to interview (believe it was KKR this past cycle), everyone goes crazy and things go into full swing because these firms do not want to lose top candidates. It’s the nature of the process for one firm to go first, kind of like how IB interviews have gotten earlier and earlier over the past years.
So that is not a good way of thinking about it because it’s not really on the firms to choose when it starts, it just takes 1 eager firm to say “fuck it” and then it HAS to start.
Agreed, most of Wall Street is on vacation now. I'd guess probably sometime after Labor Day. Might be worth asking the guys at Bryant Street Advisors for more intel.
Everyone chill out. Pre-Covid intro emails and calls happened early on and then OCR wasn’t for another 2 months… Halloween weekend the year before COVID was the earliest so calm down.
Didn't give the MS but that's wrong. Kicked off early-mid September the year after that before resetting temporarily.
Edit: Why am I getting MS when this is actually what happened? TA had coffee chats in the second week of September in 2019 that turned into interviews and essentially kicked off the whole process. I KNOW this because my friend got an offer then.
What good could interviewing this early be for any firm. These kids have 0 full time work experience to speak to / learn from, brain dead move I hope the results speak for themselves and they learn the hard way
I thought about not responding to this b/c it's LOL funny that these kids "learning" from a few more months or even a year of IB analyst experience means literally anything, but this comment is made every year so might as well take the bait. No one is hiring an IB analyst for their work experience, whether they've been on the desk 0 days, 2 months, 3 years, or a lifetime. Very simply put, funds hire classes of a certain age group/experience level and all they want to find is the all-around "smartest" kids from the best schools in this age group with this interest area (as opposed to SWE or med school or law school kids). They go to MBB and banking b/c it's a known product that these kids will then have two years of training under their belt on some basic financial skills, attention to detail, and hard work. Couple that with interviews to test for maturity and raw horsepower, and you have the on-cycle recruiting process. Work experience is of zero consequence, and for the funds, it's simply about being first b/c supply is limited and supply of quality candidates is even more limited (esp as more smart, driven college grads opt for tech and other careers) - if you don't get to the candidates first, Thoma or someone else will.
I couldn’t agree more. It’s comical to hear everyone on these forums hype up the importance of “deal experience” for the recruiting process. Just because you lucked out and got on the 1 live deal in your group doesn’t mean you’re a good Analyst. At the end of the day, people know that 1st year Analysts don’t do much in a deal process.
What are your thoughts on networking before interview? How much do people care about knowing strategy and portcos in other words rather than very high level info?
What are we supposed to put on our resume when we have 0 deal experience?
xx
I think TA kicked it off a few years ago and they are doing recruiting events in person next week…..
How did you hear about the in person events?
This is ridiculous
Working 16 hours a day trying to start off on the right foot w my group and then being thrown into this shit is demoralizing
Participating in on-cycle recruiting was pretty low last year. You don't have to participate - and in fact probably smarter not to.
Can you expand on why it’s better to wait?
Facts
The tough truth is there's no use speculating - having witnessed 2 on-cycle processes (sat out of the first, signed offer on the second), here's the best advice I can give to prospects: the minute there's an inkling out in the rumor mill that on-cycle is coming up, you need to start preparing as if it's launching tomorrow. Any excuse you have to procrastinate (e.g. "there's no way it's happening right now, that makes no sense") will lead you to procrastinate.
The worst case scenario is getting blindsided when on-cycle launches, going in unprepared, blowing your one shot with your top-choice firms, and leaving without an offer. The only consistent thing about this process is that the timing of it is completely irrational. There's no use trying to walk your way through the logic of it. Just start.
Did you take a 3rd year of banking in this case?
Yes - surprisingly my third year has been the best one so far though. I'm well-respected so I get a lot of discretion re. the projects I get put on, I'm one of the longest-tenured juniors in the group so I get greater say on group-wide initiatives, and the market slowdown means I get more sleep more regularly than I have any of my prior years. Taking that extra year to prep and gather meaningful deal experience before really attacking on-cycle also landed me a better offer than I ever imagined myself getting, really excited to start next year.
Only drawback is really the opportunity cost of another year of IB vs. starting my next job early in terms of time and $.
What do we put on our resume's though given we have 0 deal experience? Just a reformatted college resume basically?
Yeah, basically... it's stupid but c'est la vie. Interviews will be given out largely based on pedigree of bank and group you're at / pedigree of undergrad school / GPA.
Headhunter chats are going to be important too. Know what you want going in. This might be a controversial take, but if I ask one of my first years that question and they just say "UMM/MF," I know they haven't actually thought through that question and how those firms align/don't align with what they're looking for with any real depth.
Geography? NY / SF / Boston / elsewhere? Would you be willing to relocate for "the right opportunity?" What would "the right opportunity" look like for you?
Sector? Industrials / Healthcare / Tech / Consumer? Get ready to explain why if you're making a major pivot vs. your current group.
Strategy? VC / Growth / Buyout? If buyout, what kind? Growth buyout? Special situations? Operationally-focused? Financial engineering-focused?
The best advice I can give that will make you look like a serious candidate: look through each headhunter's client list and have a list of the clients that you're most interested in at the ready during your intro chat! Be ready to explain why you're targeting them, esp. if presenting a list of firms that are pretty different from one another.
Also know your finance and accounting technicals inside and out and be knowledgeable enough about what the job will actually entail.
That's basically all I've got. Good luck.
Anyone have the link to the CPI registration and would like to share? Please pm me
Same
Would appreciate as well.
CPI links are personalized, you need to reach out
How common do people recruit in their second year and sign for 1 year out?
Short answer: it will start after labor day or sometime in September.
The game theory of on-cycle forces firms to start early to secure top candidates.
My advice is to skip on-cycle unless you can do the following well:
1) Paper LBO in sleep
2) Speak to fund strategy/geography/names you want and why
3) 60 minute LBO and case
4) Behavorials/deal talk (internship or other)
It is not worth tarnishing your brand with HHs or elite firms by showing up underprepared.
How does the 60 minute LBO look like? I can do pretty much everything you listed except do a LBO from scratch.
How does the 60 minute LBO look like? I can do pretty much everything you listed except do a LBO from scratch.
Template that has you build S&U, 3 statement model, and returns analysis
Labor Day. Godspeed brothers
Speculation or known for your firm?
I work at a NYC MF that works with CPI as our recruiter
I can confirm oncycle is not kicking off for several months. CPI emailed our team to flag they have reached out to analysts to purely collect info. They also STRESSED nothing is kicking off.
I wouldn’t be surprised if oncycle was another 5-6 months away.
Inverse-Cramer
The headhunters don’t decide. Once one firm pulls the trigger they all jump in at once.
Unfortunately that isn’t how it works… CPI last year swore on cycle wasn’t happening and then it did within a week of their initial outreach. I’m not sure why this cycle surprises people anymore - headhunters reach out “to collect info”. Some MF (historically been Thoma, last year was BX, seems to be one that doesn’t use CPI) hears rumors of on cycle because of all the HHs reaching out and then they kick off.
My point is it’s not up to CPI - they can pretend it’s not happening as long as they want, but the minute a fund kicks off it’s game over
Yea that’s exactly what they said this past cycle and then on Wednesday night as soon as KKR kicked off everything went to shit.
A1s - I would be prepared for it to start as soon as end of next week. If it doesn’t then the bulk of your studying is done and you will feel more prepared anyways.
Lol
Lol
Hilarious comment in hindsight
My bet is October at the earliest.
What are off cycle opportunities like for the GA,TA, and Summits of the world?
GA recruits most like a MF of that group (more top banks in NY, fills most of class on-cycle). TA does some of each but also pretty heavy on cycle. Summit is much less structured, don’t think they even use a HH and they didn’t really do anything on-cycle this year. Everyone I know there recruited off cycle
How many spots typically get filled at top funds for on cycle? Like 75% or lower now
90-100% for MF. There MIGHT be 1-2 spots at most off cycle for MF PE firms.
What do you say to HH if you don’t think you’ll be ready for on cycle but want to stay in touch for the next couple of months?
Big bump — if this shit kicks off in a month im def gonna have to stay on the bench for this cycle
Just say you're holding off on recruiting as you want more deal experience, but would like to touch base closer to the new year as off-cycle opportunities arise
This is pretty common, no need to stress over the email
CPI, Amity, Henkel, Ratio, Oxbridge, GCSP, and Bellcast have all sent intro surveys and half are doing intro calls this week so I would guess post labor day kickoff for on cycle
It only kicks off if a big fund kicks it off. There’s no incentive for them to not wait until at least October.
Lot of the mega funds are hosting diversity chats rn…
If PE shops were disappointed in the talent given that the process kicked off 7 mos in for the previous class, why are there rumblings that the timeline is being pushed up to September now?
I wouldn't call this "rumblings" when HHs are literally scheduling chats for this week and next haha
It is rumblings because the HHs are explicitly trying to push oncycle back.
TA is doing a happy hour next week does this mean we’re about to kick off?
How did you hear about this?
I’m going bruv
Have a call scheduled with CPI - anything I should have prepped? Only have deal experience from past summer (worked on some live stuff) but don’t have the models to pull numbers for “deal walk throughs.”
I also read online that CPI might ask a paper LBO in the call? Can anyone confirm or deny?
Do you think there’s anyone at CPI who can credibly tell whether a paper LBO is right or wrong?
Lol lots of them are ex-bankers, so yes they can tell
I talked to them last cycle and they did drill into technicals pretty heavily
I did a deal walkthrough (had a closed one on resume) and it got pretty deep into the deal financials. I didn’t do a paper LBO, but my gut was they basically assessed similar competencies with this deal math.
Important to note that most CPI people have a banking background. My intro call person had 5+ years of IB experience. This isn’t a friendly meet and greet like some other HH intros - felt very much like I was being tested.
That being said, I wasn’t at a top banking group, so it’s possible that I was being tested more than most. Still, would make sure you’re really prepared for this one, as CPI has the most top names of any HH
Work at a MF that uses HSP. We just discussed internally and are planning not to interview candidates if it starts the next couple weeks. Based on conversations with other MFs, most agree. Mid-late Fall is our current target. In reality, if more than 2-3 firms kick it off (looking at you, Thoma), we will likely follow but that is not the plan.
To the analysts planning to participate, use this as motivation to start prep but don’t stress. If it kicks off early before you feel comfortable, then sit this one out and go off cycle / next year. Outcome will be superior and you’ll know better which firms are your preferred targets.
Doing gods work out here - thank you for the info - any other on-cycle tips if we do decide to go through/the whole shebang kicks off soon?
Doing what I can lol. Start by putting together a list of target firms and get familiar with their portfolio and approach. Demonstrated interest is even more important considering the potential timing of all of this. Live/verbal case studies might be subbed for deal discussions since most people won't have experience yet. Good luck!
This is all you need to know.
Juniors - ignore this guy. they all said the same thing to us during our on cycle, and they say it ever year. It’s likely starting this week. 30% chance it starts after Labor Day. Would be absolutely shocked if it’s not kicked off by mid September. Once the rumblings start it’s gonna happen soon
I'm stressing and I'm a damn prospect
Leave
Yeah really don't stress over this until it's pertenent to you
Fuck fuck fuck fuck fuck
So this might sound absurd - but is it a plausible scenario that interviews kick off this weekend? Everything just seems extremely compressed right now compared to the past, and there was that litquidity story about west coast funds flying out to nyc this weekend.
Would be interesting
Highly doubt it happens before Labor Day. Senior PE people are actually pretty involved in recruiting, and they’re all in the hamptons with their families right now.
My personal bet would be the middle of the week after Labor Day but we shall see
Just using this past year’s data point which I acknowledge isn’t exactly comparable, but OCR kicked off like 2 days after most of the HHs did their calls.
The fact that HSP rescheduled all their calls to this weekend is extremely indicative that things are moving, and the “our firm is going to wait” is absolute bullshit. As soon as one MF jumps the gun, everyone is going to follow in mad succession.
Think there is a decent chance it kicks off this week or over Labor Day weekend. I think 2019 it kicked off Sept. 11th weekend so there is clearly no respect for holidays.
Noob here. Whats a CPI introductory survey?
Spoke with people at the notorious shop that always starts this process off (iykyk) and was told they have no intention of hosting interviews anytime in the next month. Made it very clear that they want to be as intentional as possible in this years on cycle and don’t think it’s necessary to interview candidates when first years haven’t even worked on a live deal
But - If their traditional strategy is to pop off early and get the jump on everyone, they believe game theory dictates a first-mover advantage. If they were to be honest and say they were going to begin on September 1st and catch everyone off guard, they would lose said advantage. Thus, clearly they must believe fooling people into a false sense of security is their optimal move, making this indistinguishable between candid honesty or self-serving lie.
Tough.
Starts in the fall.
“Wake me up when September ends”
HSP canceling all their calls and rebooking for this weekend is most definitely a sign things are kicking off early next week.
Just got interview for MF though CPI
Hell nah
There's gotta be no way... thats a 2 day timeline from intial reachout to interview lol. Literally impossible.
On the ground at a MF and here to say that no one knows wtf is going on. It’s exceptionally fluid. No one I know at my firm or at any of my friends’ peer firms wants this to kick off soon. Neither do the HHs. But momentum is clearly building as everyone fears someone will kick off in the near term. That fear and cyclical momentum is exactly what usually causes someone to say “screw it” and kick off. 3 weeks ago, most people I know would’ve said it’ll prob be in oct/nov. Over the last 2 weeks, people were saying things like, “it might happen in sep/early oct, but hopefully later.” This made me and some other asos privately think it might happen after Labor Day since always earlier than the rhetoric/what ppl expect. Now we’re all praying it’s after Labor Day since some of us have vacations/stuff planned next week and bc we’d like u guys to have more time. But the unfortunate reality is that if someone kicks off sooner, we’ll be off to the races. Prep like it’s imminent. Hope it’s not. I did on-cycle and i know this sucks. If you choose to participate, it will be over quickly and then you’re done — put your best foot forward and go crush it.
Thanks for the insight, this makes a lot of sense and was the vibe I had gathered.
If someone feels generally ready, except they probably aren't ready to do a fully fleshed out case study, would you recommend sitting out on-cycle or hoping to get lucky with an easier case study and squeeze by considering everyone else is unprepared?
You will never feel 100% ready. But if you can get most of the way there and spend the proper time preparing, all you have to do is be more prepared than the kids you are interviewing against.
I interviewed at 2 MFs last cycle (so we had 8 months on the desk) and only got a paper LBO in my first interview and then a excel LBO/spoken case study in my second. So no official write up/presentation like Bain does, just having to be quick on your feet and think through/articulate what makes a business attractive. Wasn’t super difficult imo.
If you want to do PE/have a shot at MF, spend this weekend studying like you did when you got your first IB interview. Just grind it out for the next few days and think about how you are setting up your future.
Completely agree with the other poster’s advice. Make sure you know paper LBO. Grind until you can bang out a templated LBO where you have to input the assumptions (i.e. know typical leverage ratio range, financing and transaction fee percentages, etc.). Once you have that down, practice doing ground up builds with any remaining time. Memorize basic mom to irr conversions. If you get a few looks, at least one won’t be crazy hard model wise.
^^ this is the correct answer.
All these anon monkeys saying “don’t worry, my MF isn’t going to interview for weeks” is absolute BS. Nobody is planning to interview/wants to kick off on-cycle this early, but the reality is that as soon as one MF does everybody else is going to follow. It’s extremely naive to think otherwise and been proven wrong in the past.
The HHs mad dashing to start getting in calls this week (and HSP rescheduling from next week to this weekend) is about the most obvious sign you can get that things can kick off any moment in the next few days.
For paper LBOs, do you just do mental math usually or actually use paper?
...
Removed
If HHs are rescheduling calls to be sooner, it’s a warning things are really about to launch.
Last year I had a CPI call scheduled for Thursday and they sent an email asking to do Sunday or Monday instead. Bam, on cycle happened Wednesday…
If things are so “not urgent” then why is one of the biggest headhunters moving their calls earlier in the week?
But also, HSP is the only HH to do this. I'd think that all of them would be scrambling if it was super imminent.
What does it mean if you got intro emails but haven’t yet gotten interview with a HH? Does it take time or are you not getting looked at anymore?
My guess is September 19 or later
Spot on. Just spoke to multiple HHs. Some first year analysts don’t hit the desk until Monday. Everyone is on holiday. No one is gearing up. It won’t be until post Labor Day.
Hopefully they learned from last cycle and it won’t be for months after Labor Day but IMO that’s too optimistic. Hopefully not even two weeks but it’s ocr so who knows.
New HSP link showing bookings for next week, not just the weekend… hope no one got spooked
Thank god. That would've been insane if it was just this weekend.
It makes sense the headhunters would start getting candidates in the system as early as possible to be ready just in case the process kicks off early. If they don't have a candidate pool when the process eventually unexpectedly kicks off, then what are their customers paying for? I don't see why them pushing to schedule calls early indicates it's going to happen soon.
Maybe they're scrambling because they heard the other headhunters are getting candidate profiles and they don't want to be behind the curve if it happens earlier than expected.
It's possible a fund said "we want to go early so get the candidate pool now" which precipitated the early reaching out. But it could also just be that the rumor mill is floating this idea that it could be imminent and funds are getting antsy and thus the headhunters (possibly partly precipitated by the speculation in this thread). Maybe it ends up being self-fulfilling but late August is a holiday month too
Did anyone get intro calls yet from Amity? Seems that its one of the few that I filled out the app for that hasn't reached back out yet.
Nope, and they were pretty explicit to me that they weren't doing chats at this time. Seems odd with everyone else scheduling them though.
Pretty soon they'll be interviewing 11th graders from target high schools to lock in their 2030 analyst class
Weird, my invite must’ve got lost on the interwebs somewhere
This was prophecy not parody -> https://www.wallstreetoasis.com/forum/school/best-feeder-middle-schools
Creammm
Yup... boutta get crazy.
Got an email from MF saying after Labor Day
Got the same emails - “ABC is not planning to launch a formal recruiting process before Labour day”.
Doesn’t mean they won’t…
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