Anyone have insights on when this will likely be taking place? Currently 2nd year consultant and actively preparing for 2027 opportunities. Doesn't make sense that on-cycle would start in 2025 at this point right? (given holiday season is approaching, etc.)
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Based on the most helpful WSO content, on-cycle recruiting timelines for private equity typically kick off earlier than many expect, often catching candidates off guard. Historically, on-cycle recruiting for roles starting two years out (e.g., 2027 start dates) tends to begin in the fall or early winter of the preceding year. However, with the holiday season approaching, it’s less likely that firms will initiate the process in late 2025. Instead, early 2026 seems more plausible for the 2027 on-cycle recruiting to begin.
Given your position as a 2nd-year consultant, it’s wise to stay prepared. Use this time to refine your technical skills, network with headhunters, and ensure your resume is polished. Keep an eye on updates from headhunters and forums like WSO, as they often provide real-time insights into when the process officially kicks off.
Sources: 2022 On-Cycle, 2021 On-Cycle Private Equity Recruiting, 2020 On-Cycle Recruiting Kicks Off, On Cycle 2025 Advice, On-Cycle 2021 Kick-Off
Bump..
Probably not in 2025 but could happen anytime next year
From the coffee chat and in-person events I have attended, all signs point to Q1 2026. Would think ~Feb given that is roughly midpoint of Q1 and early Jan still is a time a lot of people are on PTO as part of people taking extended time off. There have been a lot of increased velocity of events over past month or so. I also think very low chance it's past Q1 2026 as it's kind of a domino effect so as long as one firm is willing to do Q1 2026 everyone else will. I heard last year had very few offers given out, and I am wondering if this year will have more since it's happening roughly a fourth of the way through an analyst term as opposed to during training like last year.
Anytime next year and no one can give you more clarity than that. At a MF PE fund and we just base it off when others are doing it.
What's the most important factor you guys consider when evaluating candidates?
Depends what you mean by that. There's no single "most important factor". Imo the easiest rounds are the ones that actually filter out the most people early on
Biggest filter is even getting the interview - requires a reference or being top profile from a HH resume pack. Followed by the technical/case rounds - they're a check in the box but most people don't nail it.
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