Hi I am in my 3rd year of IB in NY. My plan is to stay on for one more year to live in NY and then recruit for PE. I am curious if most funds are open to 4th years (2 years Analyst, 2 years Associate). I am in a good culture banking group but am thinking of recruiting PE mainly to move back to my home city. Does anyone have experience successfully recruiting with 4 years of experience or are at funds where you are open to interviewing those with 4 years of experience? Are most funds generally open or are most funds closed off to 4th years? I am a bit concerned because most seem to move to PE after 2 or 3 years.
Any thoughts on this would be greatly appreciated. Thanks!
It's possible but you need to network with the firms and know seniors. You also need to be able to clearly articulate why you held off for ~3-4 years before recruiting.
You will likely join as an associate 1 with the people that did 2 years and have a harder time recruiting because there is a stigma you are “broken goods”. If you were smart you would have recruited on cycle and did banking for 2 years.
I don’t agree with that perception personally but thats the way its treated.
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