Just got an offer at a private credit shop. Everything looks good to go except there is a clause stating my term of employment is for two years, and unless the Company and I agree to extend my employment with the Company prior to the two year mark, my employment will automatically terminate with no further action required.
They told me this is part of their associate program and that the two year term is more of a procedural process/benchmark to revisit for next steps including a promotion, going to business school or exiting the buy side overall. They said it’s common in Private Equity Offers and it’s starting to become more prevalent in Private Credit. Can anyone confirm?
Or, has anyone ever heard of this ever? Either way I’m an employee at will, so technically there doesn’t really seem to be a downside in terms of getting fired or not since that can happen at any time, and I don’t plan on that happening lol.
Interested, seems to be a formality
Some roles are structured like this still. Back in the day, business school was expected, so buyside roles were typically 2-year terms intended to launch you to a top MBA program. Nowadays, there’s less of that, but still prevalent.
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