Does sourcing help land interviews at GE firms?
Basically come from a non-traditional background, went to a state school, eventually landed IB at post undergrad at (JPM/Citi/BoA/GS) at a coverage group. Wanted to leave that coverage/industry for good am an now at a MM PE role in a tier 3 city. Have closed a couple deals in less than a year and have overall pretty good experience and solid analytical skills.
Really want to move to a growth equity shop (Insight, GA, BCV, Summit, etc.) and move to NYC or SF but recruiters don't respond, hardly getting any first rounds with other PE/GE firms, and I think my profile/background is not a good fit (in their eyes) for these roles.
Regardless, I'm willing to hustle and not give up. I understand these shops are sourcing heavy, even at the associate level. Has anyone had any luck landing interviews and even jobs by just researching industries, sourcing companies and sending them to VPs/principals/partners, etc.? They eventually acknowledging your work which leads to a FT role? Any tips on this if recruiters aren't helpful? Thanks!
Bump
Keep in mind the growth equity market is pretty dead atm
At a top EB as a 1st year analyst and the recruiting market is really fucking dead for 2024 so it may not be just you
Yeah I think its an overall issue. Was wondering if doing something extra would help chances, especially given my background is a tough sell
Hol up, let APAE cook
Hiring market is getting fucked sideways right now, it's not you. If you're less than a year in at your IB gig just keep up the good work and try testing the waters later this/early next year.
Thanks. Good to know its not just me. I’m already done with my 2 years in IB though, just finished my first year at a PE shop in a tier 3 city. Partial reason why I wanna move to GE in NY/SF
Ah sorry must not have read everything fully, would still say the same though. Have friends across PE/GE/HF who all say the same thing, it's a blood bath rn between layoffs at certain banks and some funds pausing or closing their fundraises early due to the slowdown. If you have a seat currently, hanging on to it is the best course of action for the next 9-12 months IMO unless something substantial changes market-wise.
Based on others' comments, it appears that this isn't a "you" specific problem and is likely more reflective of the hiring environment in general. That being said, you're on the right track of thinking that sourcing companies and sending them to firm partners could help you land an offer. Although I don't work in VC, back in the day I took a course that featured Ashu Garg, a General Partner at Foundation Capital, and he said the following:
“Introduce investors to new companies – start sourcing. The beauty of venture capital is that you can become an investor in your dorm room. If you can introduce me to one company that I end up investing in, odds are I’m going to hire you. If you introduce me to three companies that are worth second meetings, even if I didn’t invest in any of them, you have a real shot at getting hired. Because this is hard to do, and if you can demonstrate that you’re willing to do the work and source companies that are worth my time – I’ll take it very seriously.”
So, yes, you certainly can create your own luck. However, it will be a less structured route and could take years to materialize. I posted a pretty detailed comment in the thread below that provides additional insights on this. Specifically look at the post about building relationships with founders, although that is likely more applicable to VC recruiting than growth equity.
Thread with my Post on VC Interviews and Building Relationships with Founders:
https://www.wallstreetoasis.com/forum/venture-capital/vc-interview-ques…
Thank you, this is really helpful. I don't mind starting now and doing this for the next 6-8 months and hopefully I can land a role. Is aiming for a top 5 growth equity shop impossible even with doing this? Do they only hire folks out of Ivy League and GS/MS TMT, etc.?
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