On-Cycle vs Off

Incoming FT, ignore title. Every HH I have an intro call with now says that on-cycle is basically clipped and only filled 60/1500 seats last year.

Obviously if you went on-cycle and got something you’ll advocate for doing it. But for those who waited, are you happy with that decision? Hearing the lateral market is brutal but are A1s having any success as off cycle starts to pick up?

I want to travel postgrad and not looking to cram modeling tests in the last month or so of college. Not trying to go MF but want a respectable MM or UMM if possible.

3 Comments
 

I think the main problem with this is that even off-cycle is pushed forward. Have heard similar things from HHs, but from my friends who graduated and recruited seems like most of the "off-cycle" spots are also gone by the first few months, and some even in the first few weeks post-training. From what they said, "on-cycle" is just shorter now but early off-cycle is still super early, but just calmer than the more traditional on-cycle process if that makes sense. Want to note that many of my friends got a role though this "off-cycle" process, so maybe that's just their experience. I am sure there will be spots open up post the first few months, would just assume less than the official on-cycle or the unofficial early off-cycle phrase.

Also just kind of curious since this is something I am struggling through as well; how are you going about finding firms to target, especially in the MM/UMM world? 

 

Kinda just going off vibes. For each HH I’m looking at each clients fund size/history/website and I feel like that gives you some idea of how legit they are. If it’s a sponsor I’ve heard of through my internship or general recruiting research that makes it a lot easier. Not the most sophisticated process but after a few months of browsing you can get a sense of who’s real and who’s not. My

 

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