I’m an inc analyst at a top non-tech group in SF BB/EB and was a little worried about on cycle looks. Was wondering if others who recruited and are in the same position got the looks they wanted from UMM/MFs. Historically, group has exited to solid UMMs but no MFs and was wondering if this would exclude me from even getting MF looks. Not all-in on MFs given a ton of great UMM funds, but wanted to see what funds I should realistically be targeting. Also have been told by certain people that being in SF would completely exclude my candidacy for certain legacy MFs and was wondering if this was true as well.
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Based on the most helpful WSO content, here's what you need to know about on-cycle recruiting from non-tech groups in SF for BB/EB:
Historical Group Performance: It's crucial to understand the historical exits of your group. If your group has consistently placed analysts into solid UMMs but not MFs, this trend might continue due to the group's network and reputation. However, this doesn't necessarily exclude you from MF opportunities, but it might require more individual effort in networking and showcasing your skills.
Geographical Considerations: Being in SF does not automatically exclude you from MF opportunities, but it can be a factor. Some legacy MFs might have a bias towards candidates from NY due to proximity and the larger financial network there. However, this is not a hard rule, and with strong networking, you can overcome this geographical hurdle.
Targeting Funds: Given your background, targeting UMMs where your group has a strong track record makes sense. However, if you're interested in MFs, consider reaching out to alumni or other connections who have made similar transitions. Prepare thoroughly for interviews, focusing on your deal experience and how it aligns with the MFs' investment philosophy.
Networking and Preparation: Regardless of the fund size, networking is key. Connect with professionals in both UMMs and MFs. Prepare to discuss not only your technical skills but also your understanding of the market and individual funds' strategies. Tailor your approach to each fund's focus and culture.
Realistic Expectations: While aiming high, be realistic about the opportunities based on your group's history and your personal network. Expand your scope to include funds that value the skills and experiences you bring, even if they are not the largest or most prestigious.
In summary, while your current position in a non-tech SF group at a BB/EB provides a solid foundation, breaking into MFs might require additional networking and targeted preparation. Focus on leveraging your group's strengths while also building individual connections in the industry.
Sources: Blah experience at MF, heading to B-school. Recruiting tips?, Q&A: Non Targ -> BB Coverage Group -> Incoming MM PE, BAML IB Groups (NYC), Accept mid-tier BB Offer or continue recruiting?, Technology IB Coverage Group - Exits, Interview Preparation, etc.
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