Off-Cycle is very slow
Has anyone else felt the off cycle process has been very slow and unorganized this year? Obviously some MM/UMM firms conducted some sort of process but the vast majority seems to have either a). Not run a process or b). Not even filled up the class.
Has anyone else felt/seen this? Do we think this can even lead up to another on-cycle later in the year for 2024 associate class? Thoughts….
bump
Expecting very little activity until at least March when firms can get a sense of what fundraising will look like this year, if debt markets have opened up for new buyers, etc. Too little visibility right now and they know there are plenty of qualified candidates come late spring/ summer, just doesn’t make sense to be running a process right now
That seems like the case with everyone but the MFs. Hearing from friends and some comments from here saying that those seats are pretty much full.
Heard some MF haven’t even filled. The only ones I know that are done fully is KKR, TB, Insight, H&F
Agree - it does seem relatively slow. I know MFs are maybe 50-75% full, what about UMM? And reputable MM?
MFs are much more than 50-75% full
Anecdotal, but the two MFs I’m closest with through work / location are both very much 50%-75% full for ‘24 and HHs I’ve spoken with recently across funds have echoed that class sizes are nowhere near full.
Bumping this
bump has anyone gone?
There is a general hiring freeze for fiscal year 2023. I believe the MFs are hesitant to add on too much headcount for 2024.
Do things seem incredibly slow to others as well? Was hoping to wrap up off cycle by this time but it seems none of the groups I’m targeting have gone yet
What kinds of groups are you waiting for?
Tech growth
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