Laid off Banking / PE Offer
Any insight on whether PE firms are rescinding offers in light of recent layoffs? I.e if a 2nd year planning to leave this summer gets laid off, have firms been taking the offer away?Crazy times and these layoffs aren't directly related to performance so seems fucked.
Most firms don’t hire enough Associates to warrant layoffs before they even start. I’m fairly confident no PE firms would rescind offers in this type of environment. They may adjust class sizes going forward, but for those that have offers to start this upcoming summer, I wouldn’t worry at all. The first things that would go for PE firms are lower budgets for firm events, slowdown in new hires / building out back office functions, less travel / entertainment, etc.
I think the question is if an analyst gets fired from his banking job, does the pe firm also pull his offer?
Bump
What's with the "bump" on a comment 5 minutes after the original post??
Also interested. Tbh probably heavily firm dependent / class size dependent but anyone from PE side able to provide insights? Know a lot of offers are contingent on two years banking but in the current macro conditions would layoffs be different? For the current second years leaving for PE in a few months, is it essentially a few “free” months before the next gig or maybe do you have to start early?
Bump
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