Recently received an offer from a $3.0bn PE fund to start in summer 2020. I think there's some value in doing a 3rd year in consulting, so I'm hoping to push the start date back. Any idea on how to best go about doing this? And if they'll actually allow me?
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I did this when my fund offered me a job with a start date after my first year in banking. The argument I made was "I want to be fair to my group, as you'd expect me to do for you. I signed on with the mutual understanding that I would be giving them two years of my time, and I want to honor that". They agreed to let me start after my second year in banking.
Your situation is different, but if you felt like lying and saying you had a tacit agreement for three years, you could try that.
Unless you have a really strong reason for wanting to do a 3rd year, I personally wouldn't try to push the start date out by a year.
Since you'll have finished the typical two years by then, there isn't a lot of ground to stand on - especially since everyone presumably went into the process with the understanding that it was for Summer 2020 start date.
Assuming you haven't signed the offer yet, you could consider floating the possibility by their HR team, but my guess is that they won't be all that receptive to it. Remember you don't have any leverage here and it just creates additional complexity/headache for them.
My two cents:
I assume you're at Bain, cause they have a 3 year program and most of the ACs that go into PE tend to stick around for 3 years. In my opinion, I wouldn't ask the PE fund for an extension unless you're dying to stay a third year. You're somewhat screwing the firm by asking to start a year later (going from 4 to 3 associates is a big deal, and they'll likely need to start another process to find your replacement), so it's not the best first impression. I also think the value you'd get in your first year at a MM fund will be significantly higher than your third year in consulting. On the flip side, your third year in consulting will be more chill because you're now very competent at your job and you'll have one more year with weekends off before grinding again.
Feel free to PM me to discuss further!
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