So is on cycle just... not happening anymore?
Full disclosure, starting at MBB not IB and was targeting next year's on cycle rather than this year's. Is on cycle just not happening at all?
Is this at all correlated with the FUD about how PE is dying and how there aren't any seats left or realistic paths for upward movement in most firms?
This isn't a lack of seats or PE is dying thing, this is 100% correlated with the many banks who have said analysts cannot accept job offers that early or they risk being fired.
PE firms did NOT want to be hiring college students with 0 FT experience or be doing interviews at 3am on a Saturday either, it just became a contest of who was willing to blink first and MFs had to go along with it because everyone else did. Once one of the large funds moved, everyone had to.
I wouldn't expect oncycle anytime soon, and hopefully the delay also unwinds the timing a bit and moves things to more normal interview timing/process. You should still do a bit of prep if you have free time / aren't ramped up yet (way better to brush up on your skills than learn them when you're swamped)
PE is dying though. Apollo’s Zelter Predicts ‘Washout’ With Some PE Firms Dissolving
What about HY?
Jamie Dimon forced them into nash equilibrium
congrats on JPM
"Congrats on JPM" just doesn't hit like "congrats on UBS"
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