2+2 Program Perception in Associate PE Recruiting??
To those who've completed on-cycle PE recruiting and/or are very familiar with the evaluation of IB analyst candidates for on-cycle PE recruiting, how is enrollment in a 2+2 MBA program perceived? Is it considered a positive to have a top MBA program locked in (HBS, GSB, Wharton) or do PE firms see it as a red flag since associates expect to leave for an MBA after 2 years?
For those who're unaware, 2+2 programs are Deferred MBA admission programs, in which graduating seniors complete 2-4 years of full-time work experience before enrolling in an MBA program.
Thanks in advance for any and all feedback! Appreciate the WSO community :)
Well considering that HBS, GSB, and Wharton all allow you to defer for 4 years, I don't see why they would be concerned...
Some have told me that it raises red flags since the firms may want associates who are willing to stay on for longer than two years.
I'm no quant, but pretty sure 4 > 2. If they're expecting you to stay longer than that then clearly they're looking to internally promote w/o MBA which makes the point moot.
Unlike the other responders, I think this is actually a really good question, and I could see it going either way.
For example, if it's a firm with strict 2 and out to MBA requirement, I would think they might view it as a positive since they would want you to get an MBA anyways and it reflects well on the firm for their associates to place at HBS, GSB, etc.
However, as you've alluded to, I could also see it being a negative if a firm is seeking to potentially internally promote, have you stay on for a third year, etc.
I feel like if I were you, if your profile is otherwise impressive, I might keep it off. It seems like plenty of firms aren't necessarily looking for 2 and out. That said, I've never been involved with the hiring process, so I would defer to someone more senior. Just my two cents.
I see, thanks a lot for providing a framework of how to think about this.
Follow-up question: how can I learn about which PE firms have that 2-and-out expectation? Is there a resource that explicitly outlines how firms are positioned regarding MBA exits or will I have to do some digging online / reach out to juniors to get specific info?
As far as I know, no central database for that question. For the biggest ones, people will likely have talked about it online (e.g. WSO). You can also do you own empirical digging by looking at past associates on Linkedin and seeing if any have stayed on. Speaking to juniors could be a great way as well.
Take this with a grain of salt but I'd probably but it on my resume for all firms.
Use the first round interview and keep your answer neutral and during Q&A ask about firm policy (i.e., 2 years +MBA, or internal promote) then craft your answers after getting some insider knowledge as you go deeper into the process.
If its a 2 and out program highlight you have the MBA ready to go. If the firm promotes internally tell them as long as its a good fit you're more than willing to forgo the MBA. No one will hold it against you if you leave after two years anyways as long as you do good work. Imo, even at firms that like to promote internally I would think that its still a plus to see someone with an acceptance into HSW.
Got it, that makes sense. I come from a semi-target UG so I was hoping to have an HSW program on my resume to help get more looks from headhunters (not as ideal as having HSW UG, but it's something). Will tailor my rationale depending on how open the firm is to associates leaving. Perhaps positioning my enrollment as having option value should suffice.
Thanks for your advice!
Just chiming in here with real experience - I recruited for PE as a 2+2 admit to HBS and included it on my resume. Based on my conversations with headhunters it was viewed very positively, and I think helped me land interviews with some of the big name MFs / UMMs. In the interview you can just frame it as a call option, which is a pretty powerful option to have and a good signal IMO.
That's awesome to hear and very similar to how I was thinking of positioning it. I'll add it to my resume in that case.
Thank you for your advice!
Great to hear from someone who actually went through it - would you mind if we connected over PM to ask about how you framed your 2+2 story while going into finance?
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