PE Recruiting as International Student Timing
Hey, just wanted to hear what international students who successfully recruited from IB to PE recommend in terms of timing for recruiting!
Should I bother with on-cycle recruiting my first year if I don't get the H1B?
Is it worth pursuing off-cycle if I want to target MF-UMM?
If I have an H1B for my second year, are there any consequences of recruiting on-cycle as a second year rather than in my first year? Is it assumed I will have to wait two years (i.e. stay on for a year as an associate) before joining?
Thanks in advance!
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VERY INTERESTED - fellow international students - please help us out! It is important to give back to an increasingly shrinking community
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In general, not a good idea to recruit without H1B. Even if you progress, you will be asked about your visa status at some point (most of the time headhunters ask this question up first). If you do get an offer, you either have to fess up or risk not having visa and having to have that conversation right before your start date (i.e. burning bridges).
So generally, yes wait to get your h1b sorted out . I’ve seen some who just lied their way through and luckily for them their visa worked itself out but I would not recommend that approach.
If you don’t recruit first year and recruit on cycle your second year, yes that most likely means you will have to do a third year banking analyst stint. Some firms are now reserving spots for second years (I.e. not fully fill their classes), but still the bulk of on cycle is 2 years out.
Off cycle recruiting for MF/UMM, yes worth it to look off cycle if your visa somehow gets settled after on cycle. Still a good number of MF/UMM recruiting off cycle but on need basis so you never know which ones come out. Also as noted earlier some MFs/UMMs are starting to reserve spots for off cycle recruiting. I’ll warn though off cycle is a lonely walk that can be very long and daunting especially with banking full time. So my advice would be to go get on cycle if you can.
Bless your soul for this informative response!
Would you say second year analysts are looked down upon for on-cycle recruiting or is there no disadvantage in your candidacy?
Different firms approach this topic differently but most firms view second years more favorably than first years (assuming they didn’t recruit first year and struck out) because they have more experience and perspective. This was exacerbated by the absurd recruiting timeline (I.e. oct of first year). Sentiment might change this year given on recruiting is probably not going to happen any time soon.
From my personal perspective having interviewed a few first rounds, first years really don’t have any perspective or thoughtful things to say (unsurprisingly...I wouldn’t either in their shoes). So most first year candidates we advanced were either diversity (we don’t have a quota but we want more), friends sons/daughters, or some stellar resume that just was worth another screening
For PE associates on H1B, how do you think about next steps after PE, given that many PE programs are 2 years and you will likely have 2-3 years left on H1B by the end of the program?
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Second year analyst at GS / MS, headed to MFPE in NYC. Was very lucky to get the H1B right before recruiting kicked off. That said - would say that it is possible to get MFPE offers without the H1B, know of two folks who got it and were able to land fantastic MF roles (albeit one in SF).
Agree that it's more difficult to get an offer if you don't have the H1B, but think it's less a function of being looked down upon once you are in the interview room as it is the fact that you're immediately disqualified from a number of processes. I think roughly 75% of MFs aren't going to be willing to take a chance on you in the case that you don't have the H1B, but odds are, you're not going to interview at all of them on cycle anyways.
Mind if I DM you about specific firms when it comes to PE recruiting on H1B?
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Thanks for the insightful comment! I'm a first year analyst at GS / MS (still on OPT) and would really appreciate it if you could answer a few more recruiting related questions. Any chance you could dm me? You posted anonymously so I can't reach out to you haha
Hey I'm a first year at a BB on OPT. Can you pls DM me? Had a few Qs about oncycle as an int'l / firms to target
Lmao, homies post got whicked high jacked after he said he placed MF PE.
Hey, in a similar boat (intl going to GS/MS). Would love to ask a few qs and dm
If you get H1B after on-cycle, can you recruit on-cycle the year after, and leave IB after 3 years?
sure
And is it harder to get MF? Do they just take 2nd year leaving or also 3rd? Very strong group if that matters
Are there any funds that don't take international candidates with H1B?
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