Do MM PE shops (500mm-3bn latest fund size) recruit on cycle with the UMM/MFs or do they recruit later? I'm an incoming 1st year at a lower BB (RBC/DB/WF/UBS) looking to recruit for MM PE for the operational side of things on top of the transactional side and wasn't sure if I would be looking at the same timeline of August/September recruitment
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Later. Mine was winter (1.5 years before start). Have friends who recruited 6 months before start all the way to immediate start. This is true MM ($2bn most recent fund and under). Much more fragmented market so lots of more opportunistic hiring, or delaying hiring to be sure you’ll need a head.
Thanks so much for the response. Did you use a HH to get the interview or direct from the firm?
Also, was the process more spread out in terms of interviews/case studies versus the one long day of interviews for UMM/MF?
I would say the majority go through HH unless you have a personal relationship with someone at the firm or they reach out to someone at your bank. I was surprised at how small of firms use HH.
On the process side, I never interviewed with UMM / MF, but can tell you the MM recruiting process will generally be 2 - 3 phone calls / initial conversations, case study, and then super day and potentially a modeling exam spread across a couple weeks.
Was this for a T1 city (NY/SF) or for other cities? Did you notice any difference in timelines for T2 cities (CHI/BOS) vs T1?
Most do on-cycle, but they’ll also do off-cycle depending on need. Really depends on the headhunter they use. I recruited for a 2B fund in September (2 months after my start date
Could you name some of the HH that we’re big in the MM space and who they recruited for from your experience?
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