Recruiting for London PE from Frankfurt IB
I'm from Germany originally and am currently in a top team at GS / MS / JPM in Frankfurt. However, I studied at LSE and would really like to go back to London while also moving into PE. How difficult would it be for someone with my background to land a PE seat at a UMM / MF in London?
Are you a female? Then it is doable.
Are you a male? Good luck sir.
Thanks for the input. Seems like a pretty nice summary of the PE mindset in general...
Yeah mate, banking is much different, female quotas are not a thing there…
Interested
It is possible, seen people going from GS / MS / JPM to MF in London, one example is KKR
Thank you for sharing. I would guess that there is a strong selection bias given that most people in Frankfurt IB want to remain in the DACH region. People in Frankfurt IB are often much stronger technically and work longer hours vs. London (at least at my bank). Do you have any idea how people from Frankfurt IB are viewed by headhunters and UMM / MF PE? Do they compete at the same level as candidates from London or are they at a significant disadvantage due to not being situated in London?
I would say that you are at a disadvantage. You will not be invited to any in-person events, I know Advent and Bain Cap run these breakfast events and haven't seen any non-London candidates. I am from Continental Europe myself and agree that FFR guys are more technical than the UK history student from Bristol that joins as Analyst with no experience, however, the people who usually get the offer are people from Continual Europe that works in London.
I would imagine that Sponsors that are based in DACH and have a HQ in London, would be more willing to hire people that are based in DACH. I would recommend reaching out to people who have done a similar path that you want to take and just be upfront with HHs.
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Hey there -
Very interesting question. I have made the move 2.5 years ago and overall, I do regret it a lot.
First, moving from FFM to London is a lot more difficult than moving from London IB to London PE. Not because FFM is perceived lower but simply because of the logistics. Prior to Covid, you had to attend most interviews in person which meant that you had to fly in from Frankfurt for most rounds which is a big pain. Firms also do not reimburse these flights to people, so it's all on your own account.
Second, ask yourself if you really, really want to stay in the UK in the long run. I assume you're ASO 1 or ANL 2 and your life just gets a tiny bit better compared to your first years. In FFM, you start to have real purchasing power. Now fast forward to London, you'll be able to afford a lot less. Firms like Oakley pay sub 100k base to ASO1s which covers your living expenses plus a small savings rate. Flat prices in London have rising significantly more recently and you will feel a tangible decline in your quality of life.
If you would have asked me 3 years ago, I would have dismissed all these points as irrelevant since London is one of the world's most interesting capitals. However, from today's perspective, I would have stayed in Germany without even considering the UK. The quality of life, social and healthcare system are tangible factors which do become much, much more important in the long run.
The UK's economic outlook together with social tensions also affect my perspective here. While both the EU and UK fall behind the US and BRICS, I would definitely pick Continental Europe over the Kingdom here ...
Hope this helps a bit!
Indeed very helpful and you make some good points. The pay / COL ratio in FFT is amazing and there are indeed a lot of social tensions in the UK. Meanwhile, I feel that amongst financial hubs in Europe, FFT is without any doubt the most boring one. The city has no vibe at all and it's super boring to live in. Sounds like it will be a logistical nightmare though and might be difficult to explain why I'd be away a lot to the team.
yep, long-term perspectives in UK after Brexit don't look quite good m8
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