Probationary Period
How common are probationary "trial" periods of 90 days with offers to be an analyst for a private equity firm?
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Employment is always "at will." A probationary period is just an out-in-the-open statement that they can and will fire you for any reason, which is always true anyway.
[Note: there are some technical HR differences between probationary and regular employees regarding things like insurance and potential legal liabilities, but in practice it's just employment-at-will, which you will always be subject to unless you have a specific contract that lays out different employment arrangements.]
Were you placed at the firm by a headhunter? I had the same 90-day probationary period, but the only reason it existed was to determine if the headhunter could keep their commission.
As VTech mentioned, almost all analyst jobs are at will, so it doesn't really make a difference. It's not like you're "safe" after the 90 days. If you do poor work you can be let go regardless of whether or not some arbitrary probationary period is over.
Thank you all for the replies. I suspected as everyone has commented. They included what was unofficially understood in writing.
Is a 6-month probation period the norm for BB FT role? (Originally Posted: 12/17/2016)
I just got an offer for a BB in ER. I received the contract and I wonder if the 6-month probation period is the norm for the industry. Basically what I am signing says they could fire me for almost no reason or just basically because they think I would be a bad analyst. Don't get me wrong I plan to work hard but I just thought to have more security with this FT job. Thanks for your answers.
bakura2121, very valid question. Where are you located geographically? I don't have any experience with how BB firms do this in particular, but from my experience many European companies implement a 6-month probation period. This is in part due to challenges that companies face when severing employees in Europe. That said, I don't have direct experience so others could likely provide you with a more concrete response.
Exactly, it would be in London. Thank you for the answer. I really want to know if it is common for people to be let go after those months or you have to screw up big time.
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