Current SA in a group that has historically been top in its industry/product and had plenty of MF/UMM/HF exits but more recently has slipped slightly in league tables - curious to know the plans of the current 1st/2nd years but not sure how to approach it.
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Fucking nosy intern. Back to work before I smack you in the mouth.
“How do you tell if someone went to Harvard? You don’t, they will tell you.”
If they are going to a MF, they will find a way to make it known.
Lol
This is a fact.
Maybe depends on where you are at. My recollection from my time at MoCo was that this was a pretty open discussion. I think the analysts even kept a PPT / database of all the recent exits and walked the new people through it. I think I even offered to help my interns with PE recruiting and shared the case study / modeling test recruiting library we had with them. Even our staffers I think were helpful and open about recruiting. Granted on maybe the other end of the spectrum my friends who went to GS were definitely not allowed to talk about it at the time out of fear they would be fired (which some people I heard were fired). One of my buddies who I saw at Pe recruiting events often mentioned that he was able to kinda “commit” to his Pe job but was not allowed to sign the offer letter with them while he was still at Goldman. He wouldn’t even mention which fund he was going to until he started work there. So prob a wide variety of options for your specific situation, not sure I can be more helpful than those general comments for the time being
Moelis is absurdly open about recruiting...they give SAs presentations on where analysts exit to.
I hear. Not too surprising. I think Ken even mentioned on an earnings call in like 2016 that some of his MDs may be getting poached by PE firms. Shortly after I left one of the group heads left for a HF. Buyside recruiting/ moving is fairly part of the firm. Even one of the VPs I personally worked with was actively recruiting / doing a case study for a HF while we were working together… he ended up moving over to that HF and has been there since. That VP actually jokingly asked one of the kids in my class in front of everyone during a presentation he gave during training if one of the newly incoming analysts was already recruiting for a HF. He did actively make intros for me and all that during recruiting. Plenty of VPs and MDs actively helped in job search efforts. Even today when it’s been 4 years since I last worked for the firm, people there are still actively helping me try to find a job and introducing me and trying to set up interviews and all that. I appreciate it a lot.
Quite honestly, don't ask unless they actively bring it up. Certain groups are touchy about SAs wanting to go to PE, not a good risk/return tradeoff. If they want to tell you they will absolutely do so.
Slight movements on league tables are meaningless in recruiting unless your group has gone UBS TMT and seriously blown up, it's much more relationship based (both seniors as well as track record of associates coming from your bank).
Don't keep up with it much anymore, but I believe on cycle hasn't happened yet so many of them may not even have plans for next year yet.
Just ask
This is how I would do it young intern:
- Intern : "Hey analyst where your going"
- An1: "I'm going to PE LMM fund in Chicago, it's so cool. Cant wait to GTFO of banking"
- Intern: "Nice, thanks for letting me know. Congrats. Please keep in contact (so I can contact you later for networking into same PE fund)"
Dumb, dumb question to ask as a SA. It will get back to HR, etc. that you’re looking to jump ship.
Will agree with others that this is an awful question to ask with only downside. My group was highly supportive of recruiting and placed well, but I think an intern asking about it would rub most people the wrong way. Your focus should be on getting the return offer and learning, not thinking about future PE recruiting. Also it will likely come across condescending. You’re an intern, you are in no place to be judging the recruiting outcomes of analysts. Are you going to switch groups if the MF placement for one year isn’t good enough? If people think this, you might just end up with no return offer instead.
If you are at GS/MS or EB, your group really doesn’t matter and your placement is primarily dependent on you. If you are not at one of these places, there are enough threads on this forum talking about best groups for placement.
My group made a point of telling interns that recruiting is encourage and supported by the group. If you put in good work as an analyst, the senior team will reciprocate and put the time in to pitch you to their PE contacts. Hopefully your group will do the same. If not, maybe consider asking second years after you secure a return offer.
I disagree with the above comments. He’s not talking about asking associates, he’s asking analysts?
Unless the analyst is a prick no one is going to “report back to hr” that the intern is looking into exit ops lmao.
Personally, if someone asked me I would not bat an eye.
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