On-Cycle Class of 2024
Any ideas on start date?
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
Not for a while I'd hope and expect.
There are still so many 2023 spots left, would be shocked if it was before February
Yeah have even gotten some MF emails as recently as this month.
Which funds?
I'm not gonna do on-cycle if it starts before my training is done, it's not just that I'm probably not ready, I just don't feel comfortable interviewing nor making such a significant career decision when I literally haven't even started the job that's supposed to give me taste to whether or not I'll potentially enjoy PE.
Before someone says "ok even better, less competition for me" yeah sure, do on-cycle you might even get a good gig, it literally only takes like 4 weekends (at most) to go from not knowing paper LBOs to being able to do 80% of what they throw at you impeccably and the behaviorals are relatively simple, the problem is that I'm not willing to risk it all and end up at a fund I don't like just so I can say I "got something" during on-cycle.
For the second-years recruiting, can we still get '23 spots through the upcoming on-cycle round?
Contrary to the other comments, I'd be surprised if it happened after this year. Personally thinking it will kick off Sep-Oct like pre-COVID
Would be fun to see this play out considering on-cycle 2023 had low participation and buy-side complained about quality
Sounds like it would happen after New Year's then?
Bump
I bet it happens this fall. Headhunters are starting to collect names and (allegedly?) starting outreach. Once this happens then on cycle will start soon regardless of what they tell you. Someone will get jumpy and everyone else will then start.
Covid was the exception, not the norm, and I personally think things will revert to the norm (fall of first year).
It’s just game theory - some aspirational UMM fund will start trying to do coffee chats as soon as HHs pull together lists to try to get the best candidates, and then everyone will start doing coffee chats. Eventually a MF will decide to just start interviewing and then it’s off to the races.
Just be ready when HHs reach out - maybe I’m wrong and it won’t happen yet, but never hurts to be prepared early. Last year took less than 2 weeks from CPI intro email to on cycle, so the minute that email hits get ready
This is a reasonable take but I think about 30% of my EB class will participate if its in September, and seeing similar sentiment about holding off across banks.
We will see what happens though
People say that every year and when push comes to shove, lots of people who “aren’t planning to recruit on cycle” miraculously decide to once they get the KKR interview invite. At my bank last year lots of analysts were on their high horse about refusing to recruit on-cycle and then almost everyone ended up interviewing. I’ll believe it when I see it
RBC opened in October last year
That’s helpful, can’t wait to go from GS TMT to RBC
haven't heard anything from a good non GS/MS BB group. How fucked am I??
As fucked as fucked can get
fuck
Have heard Oxbridge has started reaching out to some people to fill out their form. Anyone else?
Already had intro call
How long did it take for them to reach out after you filled out the form?
Yep
Is this for a start date in the summer of 2024?
Yes which is ridiculous
i got oxbridge email but haven't responded, got it last week. At mid-tier BB in lower tier group for context
Headhunter intro emails have gone out to top groups, let the games begin
If it's in a couple of weeks, what could possibly be deal discussion expectations?
Had MF coffee chat today they said with “high certainty" their process would likely not kick off until the winter. The people I talked to said they are more concerned with getting the best talent rather than filling up their class quickly. Said on cycle has fallen out of favor for most candidates and so they are trying to mimic that as the recruiter
What fund? Was this an official coffee chat or you reached out to someone there?
I personally would not take their word at face value. Like another comment mentioned, a firm (most likely a West Coast firm like Thoma or TPG) will kick it off and everyone will scramble to kick off as well. With chats already slowly starting, Sept/Oct is not looking too unreasonable. It will probably be Oct at the latest.
Quo quis rerum et voluptatem et. Aut quaerat hic quam in repellendus at. Similique dolores est quidem expedita aspernatur nisi exercitationem. Magnam mollitia sunt consequatur iste illum minus hic.
Sequi dolorem iste nam pariatur nihil est. Exercitationem explicabo nihil id omnis reiciendis nihil non nesciunt. Et et quos atque voluptatem velit dolorem non a. Facere ut dolor iusto at omnis inventore qui. Id ad qui repellendus excepturi.
Consequatur ex eligendi modi aspernatur voluptas sunt est. Ut aliquam perspiciatis minus qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Natus libero pariatur omnis sed suscipit. Perferendis culpa quia aspernatur rerum magni non. Velit aliquam quam eum vitae. Sint ut temporibus debitis nisi cupiditate. Sunt rerum non sunt in. Doloremque ut quis omnis temporibus dolorem eos optio possimus.
Corrupti asperiores culpa ea. Eius architecto autem voluptatem sint aliquam voluptates ut voluptatem. Suscipit voluptatem similique autem ut hic ipsum dolorem. Et neque ut saepe magni. Facere dignissimos iusto consequatur assumenda voluptas.
Doloribus sit est nam aut et eum sit. Est ut eos laudantium. Repellat qui temporibus sed sed quo impedit. Quae voluptate necessitatibus placeat sapiente.