Kids in 1st year analyst programs........
I work for one of the top MFs (Bx, Kkr, Apollo, Carly...etc.), and we are NOT kicking off the process next week. We are not even done with our events so Stop asking. Its likely going to be same as last years given the awkward thanksgiving holiday.
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Glad someone is posting about this. We had internal discussions about this and had calls with friends at other funds. It’s mostly with zero merit. It doesn’t make sense atleast for us given the current timeline.
How do you decide who to invite to the events?
For us recruiting firm handles all that. Pretty much everything up to the interview. But other mega funds might do it differently. I did hear some of the westcoast funds take a more hands on approach.
The key takeaway is that the events doesn’t have much impact on your chance to interview. Its really more for you guys to learn about the fund.
How is any of this relevant? It’s never convenient for anyone when things get pushed earlier, but it continues to happen every year since only one fund needs to decide to go. I’d imagine things will likely kick off pre-Thanksgiving
Our fund and 2 funds that are in the deal process has unofficially given indication (atleast within the senior ranks) not to kick off until mid to late November due to this transaction. One of them is mega and another is upper mm. Now it might just be our fund .but I think this is a broader market indication No fund is going to let recruitment two years out interrupt more immediate business affairs.
I don’t think that things will kick off in the next two weeks but anything past that seems fair game. Also think that unless there have been broader efforts among the MFs at the senior level to collude and wait until a certain point in time, the same prisoner’s dilemma will play out as soon as any fund officially launches
I may be misunderstanding you, but how are three firms that are in a certain auction process representative of the broader private equity ecosystem? Further, how does being in an auction process have any impact on when a firm can recruit? A single deal team being busy would have no impact on whether or not the firm as a whole can recruit.
Doesn’t really matter if MFs are planning on waiting. Last year, MFs said they wouldn’t recruit before Christmas and look what happened. All depends on first mover. Couple kids in my class heard from HHs to be ready for anything next week
For what it's worth, my UMM firm is targeting being done with recruiting prior to Thanksgiving. I expect we will have some, but not all, offers out in the next 2-3 weeks.
My advice would be to just be ready for anything starting Monday.
Could be sooner. A kid in my class has an offer already for whatever thats worth
Throw away account for obvious reasons but "kids" you should hit the books. Don't kid yourself. Funds are making moves. Know many people across this industry and I would expect something over the next week and a half. We finalized our interview case today to give some perspective...
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For the monkeys that are aware of how the process worked last year: 1. How much lead time is there between finding out the process kicked off and the interview? (e.g. they kick off Friday and you start interviewing Monday at 7 AM) 2. Do interviews happen over the weekend or during the workweek? 3. If during the workweek, do people typically suddenly take vacation / call out or do they try to continue with their typical workload?
Thanks!
As little as a few hours to as long as next day (not next business day...) and yes you must lie as much as is necessary — the turn can wait.
My roommate went through this process last year. She received an interview invite around midnight on Sunday for an interview the following day.
Who cares. PE is a joke these days. 2 and out and even if they let you stay, you won’t sniff meaningful carry distribution until you’re 40. The glory days are over folks and the train has long ago left the station. Cash and liquidity is king.
Are you advocating to stay sell side? Or when you say cash and liquidity are king are you trading money markets or some shit.
I’m saying that the champagne wishes and caviar dreams of PE is a pipe dream.
PE is a Ponzi scheme led by the co founders of every firm to convince young kids they too can one day live the lives of the rich and famous.
On the whole speaking on averages you make more on the sell side
This aged well
Came in to post this haha...rolled my eyes hard when I first read this thread
This post just goes to show what we already knew: The partners call the shot and the rest of us are just monkey's guessing when.
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