Effect of Reputation on PE Recruiting
How much does your reputation in your banking group affect your ability to exit to a good PE fund?
I'm a second year in an industry group at a good BB / EB and have a very strong background / resume on paper.
I have 3-4 people who I can put down as references who would say good things about me, and who I have a good working relationship with, but not sure they would call me the best analyst they've ever worked with. There are also people on the floor who I've had bad experiences with who I know don't like me. I think I'm generally perceived as average on the floor and that was reflected in my review and bonus.
I know sometimes funds call people outside of the names you put down, in which case, I could be screwed if it's someone who doesn't like me. Similarly, I'd imagine that a lot of people would generally say good things but not go to bat and say I'm a rockstar.
Is this a death sentence for PE recruiting and what are my options here?
Thanks in advance.
Not a death sentence - your reputation within your group doesn't really matter unless someone at the PE firm knows someone at your group. You can't control that, so you shouldn't worry about it. All your references will speak very positively of you, since they like you and have no reason to want to screw you; additionally, sometimes reference checks don't even happen until after offers are given out (offer would be phrased as something like "offer contingent on satisfaction of 3 positive references" or something... I have no idea why some firms do this.)
Its a bit rolling the dice. They will either call the references you put down or just whoever they know if your group. I was definitely mid bucket in a strong group but fared out fine. I did get lucky in that they called someone who did like me.
If you are analyst, as long as you are generally likeable, hard working and not a jerk most people who are neutral will still speak favorably, to help you out. Important to not make any enemies but so long as you pass the hurdle should be fine.
Also, if you get the job through a headhunter, can assume the search firm already checked your references. If you are heading into the interview the hardest part is definitely the actual interview and not references. Good luck.
Having been on the hiring side of this, they usually will try to find an off-list reference. The thing about references is that they know the names you provide will be inherently positive. Having some improvement points from off-list guys shouldn't be a showstopper, especially if you have had a strong interview and strong references from your other contacts
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