I'm currently a consultant at MBB and received a middle bucket performance review in my first year (almost at my second year). Headhunters have been asking for my rating and the actual review - will this take me out of consultant friendly buyout processes? How do PE firms verify your rating back channel - will they contact my manager or evaluator?
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No it won't matter. They don't contact your manager because they know you could get fired for externally recruiting. They will, however, text / call anyone they know in your group to informally reference check you (in the relatively rare chance there is anyone they know there - probably less likely at consulting firms and more likely at banks). You may be asked to submit references directly, but presumably you won't pick anyone who will speak negatively about you.
Tell the head hunters you weren't ranked but you got positive feedback and can provide references if needed.
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