How do I secure a PE return offer?
Currently a full-time analyst intern at a PE firm in NYC. So far, the feedback from everyone has been great.
Before joining this internship, I had already accepted an offer to start my career at an EB (CVP/EVR/PJT) but honestly, i’d rather stay where I am currently.
Other offices of the firm have hired entry-level analysts in the past (this one has not) and many have been promoted. However, there has not been a discussion from my Manager on a potential return offer yet so I am wondering if I should initiate a dialogue to show that I am interested.
Do you recommend me to go ahead with this? If my goal is to stay at the firm, what should I say to my Manager?
Ah, the classic conundrum of the intern seeking to swing from the vines of internship to the sturdy branches of a full-time position! Based on the most helpful WSO content, here's how you might approach this jungle gym of professional opportunity:
Timing is Key: You don't want to come off as too eager too early, but you also don't want to miss the boat. Typically, it's best to start these conversations after you've demonstrated your value but before the internship is winding down.
Express Interest: It's absolutely fine to initiate a dialogue about your interest in staying on. Managers aren't mind readers, after all. Let them know that you've enjoyed your time at the firm and are interested in potential full-time opportunities.
Highlight Your Fit and Contributions: When you speak with your manager, focus on how well you've fit into the firm's culture and the contributions you've made during your internship. Be specific about your achievements and how they align with the firm's goals.
Ask for Feedback: Inquire about how you can improve and continue to add value. This shows that you're committed to personal growth and to the firm's success.
Discuss the Future: Ask about the firm's plans for hiring entry-level analysts and express your desire to be considered for such roles. Mention that you've noticed other offices have hired at this level and have had success with promoting from within.
Be Prepared for Any Outcome: Even if the firm isn't hiring at the moment, asking can put you on their radar for future opportunities. If they can't offer you a position, ask what you can do in the meantime to be a strong candidate in the future.
Remember, it's a jungle out there, but with the right strategy, you can navigate it like a pro. Swing into that conversation with confidence, and who knows, you might just land that return offer. Good luck!
Sources: How to ask for a second/return internship?, https://www.wallstreetoasis.com/forum/job-search/return-offer-apprehension?customgpt=1, no return offer, https://www.wallstreetoasis.com/forum/job-search/negotiating-offer-before-during-and-after-interview-follow-up?customgpt=1, Lost Return Offer, Now What?
Bump
How big is the firm in terms of headcount/AUM? Smaller funds may be more receptive to hiring past established heacount for the year in times like this.
The AUM is ~$25bn and my office is on the smaller side (recently established). No analysts here but I know for sure that other offices have hired analysts straight out of school
Every firm is going to be different on its hiring approach, but I think for most firms it would be normal for you to have some version of an exit interview where it would be appropriate for you to express a desire to work at the firm longer-term. The firm may want you to complete a few years in banking, but you can build the foundation to keep in touch every 6 months and hopefully position yourself well for Associate hiring. It certainly doesn’t hurt to ask.
Thx for the help. Yeah, there will certainly be an Exit interview where I will have the chance to mention the above in order to secure a place for their Associate recruiting. Since this firm also hires analysts, do you think it would make sense for me to, maybe 3 months before my departure, mention my willingness to join the team directly as an analyst or ask if they have headcount?
I would ask or at least express your interest. There is literally no downside to doing so
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