PE Recruiting Doing Banking Late?
I'm currently transitioning after working at a well known PE shop, doing a real asset sector, and left for personal reasons. Thinking of switching sectors into say HC/ Tech/ Industrials with PE in mind down the line. It's been very hard to get looks by PE firms right away, so I'm thinking of doing IB. I'm in the process at a few shops, but I have a big concern.
I ideally want to do banking for 2 years max. If on-cycle for 2025 is already under way, and I join banking in the next two months, is it possible to get into a good UMM/ MF fund? Like do some funds do recruiting one year in advance versus two?
Also, do you think I should do banking instead of trying to continue to push for PE in this market?
Switching sectors and considering investment banking (IB) as a stepping stone to private equity (PE) is a common path, but it's important to understand the recruiting timelines and processes for both industries.
In terms of recruiting, it's true that many PE firms have accelerated their timelines and often recruit one to two years in advance. However, not all firms follow this trend. Some still recruit closer to the start date, especially smaller or less traditional firms.
If you join banking in the next two months, it might be challenging to get into a large PE fund for the 2025 cycle if they've already started their recruiting process. However, it's not impossible. You would need to network aggressively and perform exceptionally in your banking role to catch up.
As for whether you should pursue banking or continue pushing for PE, it depends on your personal goals and circumstances. If you're set on PE and believe you have a reasonable shot at getting in directly, it could be worth continuing to push for it. However, if you're finding it difficult to break into PE, banking could provide valuable experience and open up more opportunities in the future.
Remember, there's no one-size-fits-all answer here. It's important to consider your own career goals, risk tolerance, and the specific opportunities available to you.
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