Hey all,
Is the lateral market at the VP / mid-level still pretty weak so far this year? Was hoping this year would be better than 2025.
Think I've seen ~12 or so VP opportunities through the main headhunters since January. Pretty much said I was interested for all of them and only got selected ~4 interviews. No luck so far, my sense is there's a lot of mid-level talent either (1) ex-PE unemployed / in other industries but looking to get back in or (2) at struggling funds looking to hop to a better spot. Despite all the headwinds / return compression against PE broadly, seems like people (including me) are still interested and competition is intense for even LMM seats.
Curious if others are seeing or hearing the same on the state of the PE lateral hiring market for VPs so far in 2026 now that Q1 is done
The PE lateral market at the VP level in 2026 appears to remain challenging, based on the trends observed in recent years. The competition for mid-level roles is intense, with a significant pool of candidates, including those transitioning from other industries or looking to move from underperforming funds. This aligns with broader headwinds in the private equity space, such as return compression and increased competition for opportunities.
Your experience of seeing limited VP opportunities (~12) through headhunters and securing only a few interviews reflects the tightness of the market. This is consistent with the sentiment shared in discussions about lateral hiring, where headcount reductions and fewer roles have been a recurring theme. The market dynamics suggest that even lower middle market (LMM) seats are highly competitive, as many professionals remain interested in PE despite the challenges.
If you're navigating this market, it may be worth exploring alternative strategies, such as leveraging personal networks, targeting niche funds, or considering roles in adjacent fields like corporate development, which could offer a pathway back into PE later.
Sources: Leave PE for Corp Dev VP role?, Ask CompBanker, Some thoughts about luck in your career, Lateral or B-School?, PE Outlook over the next decade
How much deal experience do you have and is it from a quality shop? That's a big factor in getting interviews
I'm an experienced VP and have done 3 platforms and 1 add-on in total (including my A/SA experience at this same PE firm). However, my last closed deal was ~2 years ago (it's been slow for us since). I'm at a LMM shop (~$600 million fund). Really targeting funds from $300 million up to $2 billion so not really trying to go up-market.
Still pretty hard for me to get interviews from even some sub $1 billion funds so far in 2026 which is surprising in a bad way. Thought I would be competitive to get looks. Hoping more firms start hiring this summer (driven by summer bonus cycle?)
what are you aiming for comp wise? experienced VP LMM close to 500 with maybe a few bps of carry?
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