Leaving MBB for GE with a bad rating — best explanation?
Currently at an mbb hoping to join a mid-cap growth equity firm in the next few months. My current rating is one step below expectation and I'm halfway through a 6-month long PIP. Any advice on how to discuss my rating / why I'm leaving when asked?
Congrats with passing halfway!
Why would you have to disclose this? Just say you're middle bucket and working on X, Y and Z things out of your midyear review (pick easy non-flaws like you are too much of a perfectionist and spend too much time making it perfect, or you tend to get too in the weeds are working on spending more time looking at things from a high-level senior perspective). Most people leave MBB within a few years so the questions will be much more "why GE?" than "why are you leaving MBB"
Just don't give them permission to contact your group as you don't want them to know you're recruiting + give the HR contact when asked for a reference. They'll solely confirm that you work there, nothing about ratings or PIPs. It's potentially a legal issue for them so they won't say a word.
IMO biggest risk here is getting laid off, a PIP implies that you have done pretty poorly... your chances at GE are basically gone if you end up recruiting with no current job. Make sure you do everything possible to hold onto your job, complete the PIP with above and beyond efforts, etc.
This makes sense, but oftentimes the interviewing firm will ask for references and my rating. Just worried about those cases
The below reply from Principal is correct... tell them you like your firm and are not trying to let people know you're recruiting. People will generally not push if you say you don't want the firm to find out. And be vague on your rating, don't say you are the top rating but it's fine to say you're mid bucket if you're a 2 out of 5 (or whatever) and then give some color on what you're improving on.
Out of curiosity, how common is it to get put on a PIP and what percentage make it to the other side?
My best guess is ~10-20% right now, unsure of passing rates
Recruit asap and hope they don’t ask — otherwise you’re toast. We do ask for actual review print outs etc. but some firms don’t
Nobody ever asked me for a printout of my reviews and people generally respect your wishes for them to not contact superiors at your current firm. If they need a reference at your current firm, put them in touch with a project manager who liked you. You're looking to join a GE firm because you don't want to be a consultant anymore and you want to be an investor - sounds like the fact that you're on a PIP isn't why you're recruiting, it just happens to be the timing. So you should talk about how you're leaving because you're ready to be an investor, have skin in the game, actually be accountable for the advice you give companies, etc. Are people really asking you point blank what your rating was?
So far only the headhunters have asked
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