PE Recruiting at WF?
Will be starting at Wells Fargo this summer in a top group in NYC (think M&A, Industrials, etc.). I was wondering what PE recruiting is generally like from the bank, and what kind of headhunter outreach I could expect once I hit the desk?
I'm currently at a target school with a high GPA, and I'll likely be targeting UMM firms. I've seen a couple threads on this forum, but a lot of them are somewhat outdated. I would appreciate if anyone could provide some insight.
Uphill battle for UMM from WF. If you look at any of the PE firm’s websites, you’ll see a small to no representation from WF. I’m sure you’ll get looks from LMM or MM PE firms so I suggest you target those firms.
Agree with above, UMM is an atypical exit from WF - sure there are a few examples but more anecdotal than a real pattern. GPA/target school are great but what matters most is where people in your group have exited in the past 2 or 3 years. I would guess this is overwhelmingly MM/LMM, unless WF has a group I'm not aware of that punches way above its weight on exits. I would take a hard look at this data before recruiting as HHs want certainty and you can't tell them you want both MM and UMM, so before oncycle starts it's useful to know if only 2 of the last 30 analysts or whatever have actually landed UMM.
Appreciate the insight. Would you recommend I sit out during on cycle recruiting and focus on lateraling to a stronger bank? I don't think LMM is what I'd want to do off the bat
You can land strong MM for sure. If you are set on MF or UMM, you'd want to lateral to a top BB/top group (easier said than done, everyone is trying to lateral to the top PE feeders and no one from those groups is leaving as they have offers set for the following summer)
I know REGAL has sent a few to MF.
REGAL group is very solid. Largest RE lender, ex Eastdil etc. Have heard of offers to Oaktree, Carlyle etc.
Agree with the above. If you are set on UMM the easiest path will be to first lateral to a BB/EB.
I currently work at WF and I think you’ll be fine for recruiting. Also not sure why this site gets off on the industrials group, that is not a “top” group.
You probably won’t get MF but if you study for on cycle you can place fine. I was reached out to by 3 headhunters for on cycle and just wasn’t ready. A lot of analysts in my group were similar so if you want to do on cycle would recommend preparing early
Appreciate the response. If you don't mind me asking, which headhunters reached out/which firms did they generally represent?
I do remember dynamic search sent us all an email and maybe CPI but I can’t remember for sure.
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