Reference checks after final round
Hi guys,
I finished up a final round for a PE shop awhile back. Just found out from someone in my previous firm that the shop has been using their network to schedule reference calls about me. Is this standard process for them to do reference checks without me knowing? And is this usually a good thing? For context, I had a very good relationship and work ethic with everyone in the firm so I am quite confident that it would be pretty positive if they ask about me.
Would love to know your thoughts on this matter. Thank you.
The PE shop you're currently interviewing with reached out to your OLD company (not current company) to do a backdoor reference check on you without telling you? Not common from my experience but have heard this happening before. Especially if say your old company was an IB that works a lot with the PE shop you're interviewing with / they have an existing relationship.
They shouldn't be reaching out to anyone at your CURRENT company without your express permission. In my experience, they only reach out to someone at your current company when you basically have the offer already and this is really a final check the box. Based on my experience and I hope that's the case for majority of PE firms - speaking as someone actively interviewing to lateral within PE and not wanting my MDs to find out.
Agree with the above fully. Reaching out to your current employer without your permission is extremely bad practice.
Yes, and I'll take it a step further. Reaching out to people who aren't at your current company still poses risks that those people talk to others (IB & PE is a pretty small world it turns out) and someone at your current employer finds out.
The only time it's normal is when it's truly informal backchanneling, i.e. someone at your new firm calling someone he knows well at your previous firm and he trusts that the reference guy won't go blabbing about it afterward.
Outside of that, they should ask your permission. And they look like amateurs for not doing that. Hopefully it's a case of an HR dummy having too much control over their hiring process, and not reflective of the culture of the firm.
I did my undergrad at a top school and earned an MBA from Harvard Business School before exiting my company
Yeah sorry, didn’t really specify but it is my previous employer. For context, very recently left after off-cycle (eventually turned down return offer). The IB definitely does deals in the same space with the firm I’m interviewing. Was just curious whether it’s often a good sign that they are asking questions before an offer. Usually more familiar with reference checks after offers.
I think it's definitely a good sign but not as clear of a good sign as asking you directly for references. Just a guess but maybe it's down to you and 1 other person in the final running and they are looking for more data points to decide a winner. I would guess the next step would be asking you for references directly if they decide on you. Good luck!
Thank you! Hoping for the best.
I did my undergrad at a top school and earned an MBA from Harvard Business School before exiting my company
Very common to backchannel like this. Definitely means they're interested in you (though not as positive a sign as if they ask you for current references directly of course) and positive references are always helpful in giving you an extra push. Best of luck.
Agree, very normal. We're paid to do diligence (on both companies and people). Very common to use network/connections to avoid making a bad hire / ensure we lock-down a great hire.
I see, thank you! Was told from someone in my previous firm that he overheard positive feedback during the ref check so I’m hoping for the best now.
Good luck. Sounds like an offer is hopefully imminent!
I am doing backdoor reference checks the minute I get a 1R with someone with a mutual I know
This happened in my experience having just been in the job market and have been that reference for other people who just entered the job market
But why though, backdoor reference 1R seems a bit excessive? (Although seems like you're at a HF so maybe you just need to be a bit more selective). When we hire on-cycle associates, ain't nobody got time for that
I think they are trying to figure out if it's worth going through the process with someone before initiating something that is quite drawn out and realizing at the end that they are not going to be a fit
I did my undergrad at a top school and earned an MBA from Harvard Business School before exiting my company
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