On-Cycle Recruiting as a 2nd Year

Am a 1st Year analyst at GS/MS/JPM and, though I know I want to go to the buyside, I’m pretty set on not doing on-cycle recruiting this year - I don’t feel ready technically and certainly not in deal experience over these past 9 months. I also haven’t pinned down exactly what I want in terms of fund size/strategy yet and I don’t want to rush into a decision or blow the one chance I have with each fund.

So I wanted to ask if anyone has any insights on 2nd years recruiting on-cycle - if there are successful cases, if all funds (especially MFs) are open to hiring a 2nd year that didn’t recruit/strike-out in their 1st year, etc. - any advice is helpful really.

Am aware getting hired on-cycle as a 2nd year would mean having to do a 3rd year in banking and I would totally do it.

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