Plausibility to Recruit Off-Cycle?
Hi Guys,
I just wanted to see the plausibility of recruiting for private equity regarding my stats. Primarily looking for an industrial buyout seat and then going to pursue an MBA, hopefully.
Currently, I am not so much worried about my ability to perform during interviews, more so worried about whether I'll even get looks.
Stats:
Unknown LMM/MM Investment Bank in NYC
Non-Target School
1st-year analyst
Closed Deal: Led the model on a financial sponsor buy-side M&A deal - valuation of ~$1,000mm (including LBO model)
SAT: 800 Math 650 Reading
GPA 3.4
Think you need to lateral up to name brand MM IB... aware easier said than done in this market, but the only looks you will get from your current seat will be the deepest of LMM PE firms, often with somewhat sketchy ASO experience / fundraising / deal flow. Not going to be helpful if you're trying to get into a T15 or M7 MBA.
It sounds like you have had minimal to no HH outreach right now - that is the main hurdle and not easily overcome without a lateral move. If you have buddies at MM IB getting HH outreach, you can ask them to send the HH your name to get on their email list, but in my experience even with that "warm intro" they are often not willing to put people from totally random banks in front of their clients.
I knew it was an outcome but definitely still a bit painful to hear. Would you say the lateral recruiting markets are still shot? Some of the banks I've talked to, mentioned that they weren't doing lateral recruiting/hiring freeze in the current economic conditions.
It's challenging but the market is starting to thaw a bit with deal flow picking back up, firms starting to replace leavers etc.
Focus on places with job openings (laterals are usually just posted online on LinkedIn or whatever) and network heavily there, but no real use in throwing a wide net by reaching out to every bank just to network, with 80% of those places not hiring at the moment
Shameless Bump
Try Star Mountain Capital.
They recruit people with less “brand name” experience and give them shitty pay in return. Most of their associates and analysts come from really weak backgrounds bc the management team there are cheap af and they only pay a premium to senior people. I only know of this bc two people from their firm reached out to join my firm over the years.
Your background is stronger than all the junior talent there. Hope that helps
This is the model of a number of sketchy LMM PE shops - OP is going to have a very difficult time moving to a legitimate PE shop or decent MBA from this type of place, even if it is a "PE" job
Bump
Bump
you didn’t lead the model as a first year. you’re not fooling anyone
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