Handling PE recruiting when unsure of location
Me: First year analyst at top IB group in NYC, want to exit to PE; my girlfriend: finishing senior year of college in non-NY location, pre-med. Dating for 2 years.
I’m having trouble navigating the PE process because I don’t know which location I will be in in 2 years. That depends on where my girlfriend gets into med school since we don’t want to be long distance for longer than 2 years, and it doesn’t make sense for her to only apply to NYC med schools since applications are so competitive, so we’re thinking I’ll move to a finance hub close to where she goes for school.
I’m in some processes right now for NYC based PE firms but if she doesn’t get into a good NY med school, then I wouldn’t want to be in New York. But I don’t want to be dumb and miss my chance of getting into PE by not recruiting right now. Any advice? I want to marry her.
Offcycle recruiting is probably the best bet - if she's going directly to med school in 2025, you should have a whole year to recruit for that location.
That said, there are fewer locations to do PE then there are to go to med school... opportunities really get slim outside of the Tier 2/3 cities, and the smaller cities will expect you to have some family/personal ties to the area (outside of med school, which is temporary). i.e. if you are not from/didn't go to school in Texas, and your only reason to be there is for a few years of med school, they will pick someone with local ties for a Texas PE job. Residency will also throw another wrench into things and is longer-term - you should think about that too.
I think a useful exercise would be making a list of all the places you could fairly easily do PE - NY, SF, Chi, LA, Miami, Boston, Charlotte, Denver, maybe Atlanta/San Diego.. and then drawing a 1hr commute circle around each to make a list of med schools. Dallas/Houston also have excellent med schools near both, but again, Texas is a very insular place when it comes to PE recruiting.
Good luck man
Based on previous WSO threads, here's what you need to know:
Navigating PE Recruiting with Uncertain Location:
Current Processes in NYC:
Flexibility and Communication:
Broaden Your Search:
Leverage Relationships:
Long-Term Planning:
Backup Plans:
Summary:
Good luck with your recruiting process and your relationship!
Sources: Leave Top Surgical Residency Program for Finance, PE Lateral Recruiting Advice/Stories/Help?, https://www.wallstreetoasis.com/forum/private-equity/a-guide-on-how-to-navigate-on-cycle-pe-recruiting?customgpt=1, Advice: Transitioning from Csuite healthcare -> PE, The PE career path
Did you just start this past July and are in processes rn? Do you mind sharing which types of firms are doing stuff
Also a first year analyst and haven’t heard much since on cycle
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