Citi London PE Recruiting
Going to be joining Citi, in most likely one of it's top performing teams in London.
Just wondering what level PE funds / recruiters will be approaching me. Will I have a shot with any MFs? Or is the Citi brand not strong enough.
Would be really good to hear from anyone with experience.
Thanks.
No need to panic, Citi remains a strong brand name in Europe and plenty of opportunities will come to you in due time. The first headhunters will approach you after a couple of months (around Xmas) usually suggesting moves to other IB and low tier funds. Most of the really good offers are sent by the end of your second year and during your third year.
A quick look at Citi alumni should reassure you as they are quite a few people working in pretty much every single mega fund (e.g. Carlyle, Cinven, EQT, etc.) and MM fund (e.g. 3i, Ares, etc.).
The real priority for you is to make sure you are top rated so you are invited to interview with these MFs.
Any question, let me know!
Camondo
Would be very interested to know importance of rating, single a, double a etc
It is hard to say what is the most important parameter, but recruiters will definitely consider the following points: - Quality of your degree - Relevant experience(s) - Strength of your organization's brand in your specific space - Deal experience in your team (i.e. Number of deals closed, modeling, client exposure, etc.) - Languages spoken (especially for large funds in Europe) - Other relevant experiences & extra-curricular - Internal rating
On the last point, there is what you say and what HH already know about you from your colleagues. In general, you won't be called for the best jobs if HH have heard you were not one of the top performers in the team.
The real difficulty is to get one foot in the door, but once your profile has been selected (most of the time) very different parameters come into play (e.g. confidence, maturity, ability to structure ideas, etc.)
How do recruiters / funds find out about ratings if not from the candidate? That's what I'm curious about. Is a single a going to stop you meeting MF or upper MM funds?
At the end of the review period, headhunters usually call you to understand if you are considering a move. One of the questions is always how are you ranked compared to your peers.
Headhunters are in touch with pretty much every single of your colleagues including your boss(es). Once in a while they call you and ask for feedback on other bankers, either on a name by name basis or just to know who the top performers are. Once they have the information from different sources, it is very easy for them to cross check and get a sense of who is well rated and who is not.
Their job is to know the market, so you can always lie but they will always end up knowing the truth and that will just make you look stupid. My former flatmate got his offer cancelled in a good fund because he had lied about his rating. How do they check? They will call former colleagues once you have received a formal offer and check with them whether you are that well rated or not. In certain cases, they will also ask you to provide a written proof of your last bonus. Last but not least, these guys run huge databases and know exactly your rating based on the bonus you got the year before...
To give you a more personal example, I currently work for a huge fund and had to go through a very thorough background check: - They asked me give them the names of two colleagues but ended up calling two additional ones without telling me - They called two clients whose names appeared on my CV without asking for my permission - They asked me to provide the payslip showing the payment of my bonus
It is very tempting to tell lies but that can backfire very badly especially with the best funds. Don't forget that HH are here to screen and filter candidates. Everything you tell them is noted down and will be used against you if you lied at some point.
You can be poorly rated and still be a very good banker / analyst / profesionnal. Office politics is a reality and if you are able to prove it, you will be fine. Some of my colleagues didn't fit in my former team, still they managed to join very good funds.
Hope this helps! Camondo
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