Do PE funds do reference checks when hiring Associates ?
Do PE funds do reference checks when hiring an Associate ? Whether asking you for references or calling your boss directly ?
I mean not an HR check “when was he employed” but a proper reference check ? Is that common for Associates ?
Wondering if a PIP would come out or if better to resign before being on record.
I am in London but guess it’s similar in the US..
Yes they'll usually do a reference check, Analyst to an ASO role it's usually not an issue but they'll typically understand if you're a lateral specifically asking that they don't talk to your current employer because you're recruiting on the DL. But then you had best have past employers, full time or internship, who you can have them reference instead. Otherwise it's a bit of a tough situation from their perspective.
Who do they reference ? Can that be a VP or does that have to be your resource MD / official line manager ?
I dunno, I didn't do banking so can't speak specifically to that it'd probably be case by case. I would imagine any superior you report to is fine which would include VP.
We did background checks but asked the candidate for 2-3 contacts that we could reach out to at their current firm (or prior firm if they were lateral). I think most firms would take a similar approach.
Got it!
Out of curiosity, isn’t it a bit weird/tricky to ask for reference before resigning ? As in, if the firm doing references choses to go another way, you would get fired from your current firm?
That's why the option for prior firm references exists. Firms also recognize the position it could put candidates in, and don't typically ask until the offer is at least verbally accepted.
Got it. I guess that works if you move every other year, but not if you’ve been many years at your current place.
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