Wanted to check in on others’ experiences again. Been an absolutely brutal process on my end. Been recruiting for a long time and have interviews that I am doing fine on but no offers yet. Anyone else out there on similar boat?
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Based on the most helpful WSO content, it's clear that the VP/Senior Associate recruiting process can be grueling and unpredictable. Here are some insights and advice that might help:
Unpredictable Outcomes: It's not uncommon to feel like you're doing well in interviews but still not landing offers. As shared in WSO threads, some candidates have had great coffee chats or networking events that led nowhere, while others felt they bombed but still received offers. The process can be highly subjective and firm-specific.
Networking and Headhunters: Make sure you're leveraging all your connections and reaching out to relevant headhunters. As noted in the "No VP Promote from Sr. Associate" thread, it's crucial to let headhunters know you're looking for VP roles or, at minimum, Senior Associate roles with a clear promotion path.
Storytelling and Framing: If you've been in the process for a while, focus on crafting a strong narrative about your career trajectory. Address any potential concerns proactively, such as why you're looking for a new role or why you haven't landed an offer yet. References and deal experience can help debunk doubts.
Timing and Persistence: The process can take time, and it's important to stay persistent. Some candidates have shared that they received offers within hours of interviews, while others had to endure weeks or months of uncertainty. Keep pushing forward and maintain a positive mindset.
Decompress Strategically: If you're feeling burnt out, consider taking a short break to recharge, but only after you've secured a new role. As one WSO contributor put it, "When you have your back to the wall, you push forward."
If you're still struggling, it might be worth revisiting your approach to interviews, networking, or even the types of roles you're targeting. Keep your head up—many have been in your shoes and eventually found success.
Sources: No VP Promote from Sr. Associate - Seeking Advice, No VP Promote from Sr. Associate - Seeking Advice, My Private Equity Recruiting Process, Most interviews in a row without receiving an offer?, My PE Recruiting Process
I’ve gotten deep in several process in the last few months without an offer. It’s a brutal market right now.very hard on the self esteem.
Same boat, ignore title. Shit is demoralizing
Exact same situation here. So hard on the confidence
Very hard. Either need to compromise hard on fund size / geo, ride it out at a sponsor backed portco, or go do something else. In this current environment I don’t see it getting better above ASO level.
Was a similar story 2-3 years ago when I was recruiting and hasn’t changed all that much since. I am guessing I am 2-3 years more experienced but I have gotten a number of high quality looks at the VP level since October. Made it deep in one process to no avail but have since gotten to final rounds in two others and secured an offer. If you’re right at cusp of VP, it’s probably a bit tougher given firms will try to draw you to a 6-24 month stint as SA prior to promotion. Have seen some associates complete 2 year programs and not find jobs for 6-12 months before essentially restarting their associate program.
Try to juggle 2-3 processes if you can, the leverage there can force firms to move faster once you’re entering the later stages. Would also recommend reaching out to all your personal connections and alums to see if they can help instead of relying strictly on HHs.
Would you be open to doing mock interviews?
How were the candidates with prior experience able to convince firms to let them “redo” their Associate program?
If you are even getting interviews, you seem to be pretty lucky. Very quiet here.
Off-cycle recruiting for associate roles from investment banking and it's been brutal too. Getting into processes but not converting into later rounds or offers. How many processes did it take for y'all to break into PE if you came from IB and recruited off-cycle?
Are you an An1 or 2?
It’s cooked, leaving the industry for corporate. PE isn’t worth it.
Why not
The higher is comp is meaningless if you’re out of a job for a year and spending it all down. Only in “high finance” will people let their egos get the best of them and willingly stay unemployed for a year just to work in another job.
Also on a more general note, 90% of those that enter the industry will never make it to a senior position or partner. That’s just basic math given the number of seats out there. A lot of cope will deny this fact. So where do all those people go if not back to the sell side? They go to corporate. Better off making the jump to there now after 4-5 years experience because no one’s going to give you exponentially more credit for just staying in the sell side/buyside after that
Are these for NYC?
Currently senior VP at a well known growth + PE fund, standard/good large cap PE background prior.... Just started picking my head up because i don't really like my team. Haven't heard about much in NYC that's not infra
Seen a handful of NYC opps, only one for infra but at a top tier fund
Ignore title.
Was in a similar boat last year. I was at a megafund associate program and didn't want to do an MBA, so I went to a growth equity shop. Tried doing it for 1.5 years but hated it, actively recruited for another 16 or so months before I landed an offer in an MM PE - got promoted to Director at the growth equity shop but had to take a haircut to go back to a senior VP position in PE. Brutal and I still consider myself kind of lucky because of the # of opps out there are so scarce.
Why didn’t you like the growth equity position? I’ve mostly been targeting GE while my friends are interviewing for buyout so curious
Similar question, was the dislike of growth/non control investing because of strategy or team or performance?
Ie Is your new team one where your carry is more real or was the move bc of fit /interesting work reasons?
I'm actually enjoying the non operational side of my job (large fund doing non control PE and growth), but not sure I believe this strategy will do well in the long run.
Processes are slow as hell. Recruiter talks seem fine but then they never follow up after taking your app and just say it's taking a while when you follow up. Very frustrating.
Ignore title. Can't emphasize enough on leveraging your network in these trying times. I'm latering at the Associate 1 level but was just told today that despite previously filling the 2025 class, a spot has opened up at a firm a reall like. You only need one.
Getting some traction on infra PE seats - am a post-MBA Sr Assoc and looking to move to a fund with more dry powder, either Sr Assoc lateral or AVP/VP mini-promotion. Got to final round with a MF last week but didn't get the offer; currently in early stages with two smaller energy/infra shops (all NYC). Think infra is a bright spot in this hiring market; friends in corporate/consumer/software PE are not seeing many lateral opportunities from what I hear.
Do you have infra or infra adjacent experience? I’ve seen those roles but don’t really move forward since I don’t have relevant experience
Yes, I have relevant experience, but mostly in renewable project acquisitions, so the challenge is pitching myself for more generalist/platform investment-oriented infra roles. I'm feeling pretty good about it TBH but no breakthrough yet.
Would love a DM from anyone who knows of current non-infra buyout processes at this level
Same here... the last 2 years the market has been super slow. This year I've seen more opportunities popping up from HH, but processes are super slow and frequently just get cancelled or postponed. Stay strong, you're not alone in there
This market makes we want to throw up blood into a trash can every other day
How are things looking for folks?
Same here. Have been in 5-6 peocesses over last 8 months (all for VP/Senior Associate) and none has led to an offer. Got to two final rounds but my sense is that firms are being very selective given the excess supply of qualified candidates (I know a lot of people that have been laid of from PE / HF roles recently and actively recruiting). Its a tough market and not much traction. Its also especially tough at the Junior VP/Senior Associate level because firms would likely prefer to take on cheaper associates with 2 years of banking experience that they can 1) pay less and 2) train directly or alternatively get a plug and play VP that can execute day one. The in-between is a eough place to be these days.
Dm if you’re willing to talk about those processes?
Sure
Yup same experience here (senior associate roles)- it sucks ass
Delete
its not you, its really the market. PE funds struggling to deploy capital / raise new funds and ppl are holding on to dear life in their current positions doing random portco cap table updates day in and day out... have to just ride it out.
Geezzzz so it seems like you basically either need to get VP at your current spot or hang out unemployed for a hot second or go corporate???
bump, anyone seeing traction in the summer? Have been in 5-6 processes in the last few months that ultimately didn't end up hiring or that I was runner up in.
Curious were these for NYC roles? I’ve not been seeing much from HH for NYC
3 were for NYC roles.
Crazy how long every process is taking - also, I guess there are a lot of people looking in the market so there’s a ton of demand for limited supply of seats
I recently took 1-2 months completely off of networking, and some weeks on vacation from my day job, for these roles just because I was so burned out from the immense competition versus current ASO2's, post-MBAs, and the like. I'm in a fully remote but fairly intense BusDev role and am fully aware that the clock is ticking--if I don't land an offer soon, I'll be out of the industry in all meaningful senses.
But HH's were treating me like I couldn't add even though I was getting to final rounds at firms that deigned to talk to me in a formal setting and sending out networking / finding "warm" connections or even commonalities for cold emails had just become exhausting. There are legitimately 1,000 funds at $500m+ that might be a fit and yes, I haven't covered them all. Just needed to recharge because I was actually getting stress ulcers and incredible cluster headaches when I was full-go at work and recruiting from lack of sleep.
All of that isn't to throw a pity party, but mostly to express empathy with everyone else in a similar boat. Yeah, it's "unfair" that most of us could have gotten lateral offers somewhat easily back when the market was popping and then that came to a halt right when we actually wanted to move, but life is unfair and we couldn't control that. What we can control is basically telling anyone (silently and internally) who tries to counsel us that our time in the industry may be done to shut the eff up and let us keep grinding.
same boat as you here. has it felt productive to network cold?
Same boat here. 2nd year ASO at a highly reputable UMM PE firm. I have great references and closed 3 platforms. Still can’t seem to get a good offer . . .
any luck or update?
I kept recruiting until like early September until my actual job made it impossible to keep going hard without getting burnt out. Also not that many processes that I saw on the horizon so I pretty much shut it down. I'm hoping to reset a bit in the new year and will give it one last push (along with selective consulting and IB roles), trying to be as flexible as possible on location, seniority, pay, etc. If it doesn't happen at that point, I'll finally take the market signal and try to figure out what God has in store for me elsewhere.
Bump - any recent processes?
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