When to recruit for PE coming from MBB? (can I kick the stone down the road?)

Hello monkeys, I am a first year BA/AC at MBB (i.e. I started in ~Sept./Oct. of 2023, so ~10 months of experience). On cycle recruiting is right around the corner, and I am receiving many emails from headhunters. Though I am committed to pursuing PE/GE in the future, I do not feel ready to go through on-cycle recruiting in the next few months (or weeks). I am in no rush to leave my current role, and I have heard that -- unlike bankers who may recruit for PE roles within weeks/months of starting their full-time roles -- consultants usually recruit in their "second" year.

What I am wondering is whether this is technically my "second" year, even though I am not a full year into the role. (In fact, I had not started my full time role at MBB until after on-cycle last year). If I don't recruit during on-cycle this year, can I still participate in on-cycle recruiting next year (i.e. fall 2024 for 2025/2026 roles?) or is that considered "too late"? Overall, is recruiting from MBB harder the longer you wait to shoot your shot? Or, can taking an additional year be seen as a wise choice?

I was also curious if anyone has advice on navigating head-hunter emails when you are hoping to kick the can down the road. Do I ghost them for now? Or, do I express my preference for roles starting out further down the road (i.e. 2026)?

(Great performance reviews / standing so far, if it makes any difference in terms of advice)

Any input would be appreciated! 

 

Hate to break it to you, but this is technically your “second year” cycle, and this is the one most at MBB will do. Your first year cycle would’ve been just before starting last fall, similar to how all these bankers are recruiting right now despite not having hit the desks yet.

 
Most Helpful

Agree with above, you've already skipped a year so this is your second year (they don't care if your start date was 4 weeks later) and last opportunity at oncycle. Next year you will be too senior for oncycle.

It doesn't seem like you are prepared for oncycle and you don't want to ruin your rep with HHs by doing a bad job in it... so I would recommend telling HHs you're sitting out of oncycle but would like to chat down the road for 2025 offcycle opportunities (and then obviously start studying now, off cycle isn't going to wait another year to kick off)

It's ok if you want to stay in MBB but you are giving up some optionality by doing that. Maybe spend the next few weeks deciding what you want and if PE is important to you. If you want to do PE you aren't going to be able to start in 2026, you'll be too senior for them - it's be 2025 roles, beyond that you will have aged out.

 

A3, I agree most MBBers leave within 3 years, but it’s not correct to say that you’re too old if you leave at 4. I have friends that stayed 4 years and ended up at really good funds

 

They generally did off cycle and came in as first year associates. And had looks from pretty much every place you can think of that interviews consultants.

 

In my view (at a UMM fund with a bunch of consultants) you don’t “age out” in the same way as bankers but you just start wasting years. You’re going to come in as a first year associate at any big fund whether you have 2, 3, or 4 years of experience, so at a certain point you just need to acknowledge that’s a decision you’re fine with. Like if you’d rather go on cycle next year no one will ding you for that but you’re still going to be a first year associate and you might sit next to someone who has 2 years of consulting experience vs your 4. If the goal is PE and you’re fine waiting I don’t think it’s a bad thing, but just make sure you are ready to make that choice vs trying to recruit off cycle for a sooner start

 

In my view (at a UMM fund with a bunch of consultants) you don’t “age out” in the same way as bankers but you just start wasting years. You’re going to come in as a first year associate at any big fund whether you have 2, 3, or 4 years of experience, so at a certain point you just need to acknowledge that’s a decision you’re fine with. Like if you’d rather go on cycle next year no one will ding you for that but you’re still going to be a first year associate and you might sit next to someone who has 2 years of consulting experience vs your 4. If the goal is PE and you’re fine waiting I don’t think it’s a bad thing, but just make sure you are ready to make that choice vs trying to recruit off cycle for a sooner start

 

In my view (at a UMM fund with a bunch of consultants) you don’t “age out” in the same way as bankers but you just start wasting years. You’re going to come in as a first year associate at any big fund whether you have 2, 3, or 4 years of experience, so at a certain point you just need to acknowledge that’s a decision you’re fine with. Like if you’d rather go on cycle next year no one will ding you for that but you’re still going to be a first year associate and you might sit next to someone who has 2 years of consulting experience vs your 4. If the goal is PE and you’re fine waiting I don’t think it’s a bad thing, but just make sure you are ready to make that choice vs trying to recruit off cycle for a sooner start

 

Yes, this view is consistent with what I have experienced. The downside is “lost” years.

 

Fugiat voluptates dolor voluptatem molestias illo. Id fuga veniam ex quis. Quibusdam corrupti quia maxime.

Repellendus illo laborum veritatis fuga quaerat ullam mollitia. Eius magnam et consectetur consequatur occaecati quibusdam. Dolore eveniet quibusdam eos harum commodi suscipit ea. Consequatur quis ratione incidunt repudiandae praesentium voluptatum. Delectus explicabo voluptatibus sunt placeat dolorum. Eos facilis dolorum est qui rerum quia.

Career Advancement Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 99.0%
  • Warburg Pincus 98.4%
  • KKR (Kohlberg Kravis Roberts) 97.9%
  • Bain Capital 97.4%

Overall Employee Satisfaction

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 98.9%
  • KKR (Kohlberg Kravis Roberts) 98.4%
  • Ardian 97.9%
  • Bain Capital 97.4%

Professional Growth Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Bain Capital 99.0%
  • Blackstone Group 98.4%
  • Warburg Pincus 97.9%
  • Starwood Capital Group 97.4%

Total Avg Compensation

May 2024 Private Equity

  • Principal (9) $653
  • Director/MD (22) $569
  • Vice President (92) $362
  • 3rd+ Year Associate (91) $281
  • 2nd Year Associate (206) $268
  • 1st Year Associate (389) $229
  • 3rd+ Year Analyst (29) $154
  • 2nd Year Analyst (83) $134
  • 1st Year Analyst (246) $122
  • Intern/Summer Associate (32) $82
  • Intern/Summer Analyst (316) $59
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
bolo up's picture
bolo up
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”