No Deal Experience as Second Year
I know deal experience for PE recruitment isn't necessarily a deal breaker since most will be in the same boat but I know this typically the case as a first year. I spent a year in awith no deal flow and just lateraled to a top group at a top BB (lateral move was set pretty far in advance but didn't start till recently and was told there won't be a lot in the pipeline for awhile). If I still have no deal experience, is this a deal breaker as a second year recruiting on-cycle? I know that as a second year they expect you to be more polished and be able to speak about your experiences better.
My group historically has top PE placement (almost everyone) but group has been hit especially hard with the recent market. Are PE firms willing to take a chance on a second year with no deal experience since they know the group will eventually have a ton of deal flow once things pick up? Am interested in UMM/MF PE firms if it makes a difference. I have the grades, SAT, target school qualifications as well.