At MBB, only looking at funds in NYC.
Hoping for any thoughts as it relates to Associate experiences in the NY office of these three funds.
Comp, perception, culture, VP return rates, exits. Any industry / group-specific color would be helpful. Thanks!
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Right off the bat, Advent and Charlesbank are both based in Boston. I think both let you start as an associate in NYC now (might be wrong on Advent), but being in a "satellite" office is something to keep in mind vs. NMC which is actually NYC-based
Does that really matter for a firm of Advent’s size? On their website it seems like there are as many (if not marginally fewer) people in New York as Boston
You're right, probably doesn't matter at all for Advent. Would imagine it does for Charlesbank though.
Thank you, this is helpful to understand. Would love to hear any of your thoughts on the funds outside of location as well!
Size is obviously a big difference - 25B fund vs. 10B fund (and I think raising new one) vs. 4B fund. That has implications for both deal size and level of involvement you'll have in portcos. I think you'll probably be much more hands on with the portcos at Charlesbank or NMC vs. Advent.
Another consideration is whether the associate program is verticalized or not. Advent has 5 verticals and you interview for a specific group. Charlesbank I think you interview for them as a fund, and then get placed in a vertical for your first year, with the option to move to a different group in your second year. NMC I believe is a generalist program. Not saying one is better than the other, but there are pros and cons to being verticalized vs. generalist, so you should be thinking about which model appeals to you more
Do any of these funds have 2024 seats left or all wrapped up? (Or other nyc consultant friendly funds, MM/UMM)
Some of Advent’s groups are recruiting right now for 24 (eg. Consumer, Services)
Ah got it, generally where do you think we are in the '24 off cycle process? Hearing mixed things from recruiters, seems like it's been slow so far and some still saying many processes to come
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