IBD in US -> PE in UK
I have wanted to explore working in different countries for a while, and think UK would be a good fit for a 2024 associate role. I am a non-US citizen but graduated from one of the 20 unis UK listed for "high potential" or whatever in 2022 so I don't believe work visa should be a problem. I am about to complete my first year at an UMM firm.
I was wondering if anyone could shed some light on recruiting for PE in UK having completed an IBD analyst stint in the US. Is it even remotely probable? I am also considering speaking to the seniors about an internal transfer, but in the case that it is likely to go straight to PE I'd obviously prefer that. I plan on speaking with a few people ik in the industry in London who might be able to connect me with the bigger HHs there. Any other advice? Appreciate any thoughts!
I’m confused. You’re at an UMM firm now, meaning you’re already in PE?
Deleted.
Following,
I spoke to a few recruiters there….. Market is even more dead (may be more flexible in your case given the background)
But I got mixed feedback in general, with some saying yes (if market recovers) and others extremely skeptical.
Thanks for the insight. Yeah I’m hoping that the market opens up a bit by the end of the year (heard 2024 recruiting kicks off by Oct-Nov for EMEA). Just wanted to get in front of HHs early for them to keep me in mind as soon as the window opens. Was wondering if it is even possible or is it like a no-no.
Bump, interested if anyone managed to do the above
Assuming you don’t speak any of the major European languages (German, French, Spanish, Italian) it’ll be next to impossible. Most funds especially the large ones want you to be at least bilingual (to the extent that you can run an expert call in a second language). There are obviously exceptions but it’s pretty rare.
If you speak a European language and have good deal experience then it shouldn’t be too hard, just FYI there aren’t as many spots as in the USA and turnover is generally lower, so the hiring is not as regular as it seems to be on your end.
Interesting - ik the European language thing was a barrier for recruiting in continental Europe didn't expect it to be the case in London as well.
I do speak a decent amount of Spanish (which I will go ahead and list on my resume moving forward; didn’t have a language section till now). Assuming this, do you think the best way is just to get in touch with headhunters there? Also keen to hear about any insight on running an interview process from UK to US. Pretty standard?
I personally do not think that European languages will be an issue. OP is working at a mid-market IB, he realistically has no shot at going to a MF or UMM PE. Realistically have to settle for mid-market PE like Montagu etc, and these firms are usually not too sticky with languages.
I would suggest reaching out to all headhunters in Europe, think DP etc.
Just letting you know, if you are male, you need to have top 3 American BB if you want the good shops
Following. Looking to pursue the same path but everything looks dead atm.
Who have you spoken with already? As far as I know summer 24 recruiting hasn’t started yet. Doubt there will be many spots ahead of upcoming summer.
Various recruiters from diff firms. Looks like a rough year ahead :/
Best option is to find a role in the US with a PE firm that has a London office and transfer internally. That’s how most Americans in PE tend to end up in London.
Recruiting in London is tough because as other posters have said there are fewer roles, less turnover, and steep language barriers. Your Spanish language skills will frankly be ignored unless you have actually worked or studied in Spain and can demonstrate proficiency (I.e. the ability to read transaction documents or attend board meetings in the language). If you’re a male with no language skills and not from a top BB then most funds here will not consider you.
Appreciate the insight and I understand your point; given my visa situation candidly I have at best a year left and don’t think many global PE firms are willing to hire atm and transfer after a year. Thinking my best bet if recruiting in London doesn’t work out is requesting a transfer at my current role and then trying to re-recruit once I’m there.
Just trying to sus out if it’s literally impossible or if it has been done before tbh. Will try to get in touch w some headhunters out there too ig.
Your best best would be if you can move to London at your current IB and then recruit for PE whilst on ground?
One thing to keep in mind is London PE recruitment is not as structured as US that is 2 years in IB and out (esp. outside of MF). Very common to transition a little later up to associate level.
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