On-Cycle PE Recruiting From Tier 2/3 Cities
Hi all, I'm a junior interning in a good group at a BB/EB this summer in a non-NYC city (Los Angeles, Chicago, Boston). I'd like to be in NYC for PE and was wondering what does on-cycle PE recruiting looks like for people who aren't in NYC? I know some firms send people to San Francisco, but I don't think firms send people to my city. On-cycle happens so quickly and I was hoping to get some perspective on what it looked like pre-COVID and what it will look like post-COVID. I'd really like to join a UMM firm in NYC.
You’ll likely need to fly to NYC for interviews. Most firms won’t pay for it, so you’ll need to book a last minute ticket and figure out accommodations (hotel, airbnb, friend’s couch).
Unlikely to have interviews still be virtual in a year’s time.
Won't most firms wrap up on the first night?
Not really, but again you’ll just need to get your ass to NY immediately. Nothing you can do if you miss 2 mega funds who ended after the first night. Plenty of top funds that interview on the second, third, fourth days.
Agree with the above - also, the second you hear whispers / see a Litquidity post (more likely lmao) about firms kicking off, get over to NYC by the end of that night. Most firms do not wrap up on night 1, but you need to be there ASAP on day 2.
UMMs will typically go on day 2/3/4 and beyond, day 1 is a handful of MFs and typically same ones every year
While not impossible, this will probably be difficult for a number of reasons others have already gone into above (recruiting on different coasts or areas is not easy). Additionally, not sure what the general rep of the group that you are in is but it will be an uphill battle as most of the groups from the cities that you are talking about would be considered satellite offices (of course some exceptions here).
I would suggest you seriously consider re-recruiting for a NYC full time spot (which there will be opportunities to do so) and then recruit for UMM from there. If you know you want to do NYC UMM, why would you work at a firm in a non-NYC city? (it's going to be a question you receive in every single interview).
thanks for sharing that. I think I will re-recruit for FT roles in NYC.
I understand the satellite office point. My group happens to be an exception to that rule but appreciate you raising the point.
Are there any firms that will be okay with doing on-cycle interviews remotely? I'm an incoming analyst at a MM/UMM pe shop in a non-NYC shop. Anyone else in a similar situation?
I'm not sure anyone will really know the answer except the firms themselves right when interviewing time comes around. This year as well as the prior cycle were hybrid which certainly had benefits for people in non-NYC offices. However, should firms decide to do in-person interviews because the partners refuse to further hire someone again without shaking their hands (welp - nothing you do about that - just got to fly to NYC and interview).
what if my group is not supportive of recruiting to another firm?
How does it work then for GS TMT SF or MS Menlo? Wouldn't MF and UMM want to interview these folks despite being on the West Coast?
bump
Most MFs have offices in Menlo Park / San Fran to interview these folks (for both NY and SF positions). The only large cap firm that doesn’t is Apollo but they usually don’t take people from MS menlo or SF GS TMT.
Again, these things happen, but it is pretty rare. Obviously If you know someone at the firm and they give you a heads up and push your resume to HR (who subsequently pushes it to the headhunter), you can get there in time. They also recruit for 1-3 days post the kick off, but the point that needs to be made is that these are unique situations.
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