Private Equity Recruiting Overview (2022 On-Cycle)
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- เผยแพร่เมื่อ 27 พ.ค. 2024
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Private equity on-cycle recruiting for 2022 grads happened at the end of August. This is the earliest it's ever been and was a complete cycle reset after the delayed timing during COVID. In this video, we'll talk about how the cycle has changed and some implications that has for future years.
0:00 - Intro and Recruiting Cycle
2:52 - More Firms are Opting out of On-Cycle Recruiting
4:08 - Hiring Tends to Focus on Pedigree More Now
5:07 - Increased Transparency has Increased Recruiting Frenzy
Peak Frameworks is a business career prep service started by Matt Ting and Patrick Fong, who have each spent several years working in investment banking and private equity in New York and Silicon Valley. Matt and Patrick met at Evercore, a top tier investment bank, and over the years have tutored and coached dozens of candidates to land their dream business job.
Matt Ting: / matthewting
Patrick Fong (HBS 2021): / patrick-fong-0b773041
#PrivateEquity #InvestmentBanking #PeakFrameworks
The year is 2030: The S&P 500 has hit an all-time high of 10,000 pts, Private equity is recruiting out of high school, and Peak Frameworks has 10 million subscribers 😎
:)
Thank you for all the insights shared! Private equity recruiting is so extraordinary..
This year's cycle was insane
Hey Matt-just bought your course a while back for recruiting and it’s been great. I was wondering If you go to a non target school, do you need to be at a top bb/eb to get the same opportunities as someone from a target school but at a lower ranked bank? From what I’m observing, those at top MMs still get good looks if they went to good schools.
Hi brother, considering the following places:
1) US
2) London
3) Singapore
4) UAE
Working in these places, many of us have our own personal choices based on non-financial and financial factors. The non-financial factors stay at the top of the list.
But having said that, what would be your order of ranking of the countries in the field of investment banking /PE&VC considering only financial factors alone.
The factors to be considered in making this decision are demand for the job(average salary), cost of living and taxation. Considering the purchasing power parity.
I had this doubt because the UAE has zero income tax and VAT is 5%.
Can I start now while in community college?
I was interested in signing up for the PE course. Are you offering any one time discounts for those looking to sign up now?
How does the current economy or high IR environment affect recruiting ? Would there be hiring freezes like in tech ?
What does PE recruiting look like out of college?
Hey Matt - long time fan here and recently bought your PE course. I was wondering if you had insight on recruiting from SF IB for NY PE on-cycle and off-cycle. I have heard HHs not giving you the time of day due to office location. Have the opportunity to WFH 2 days out of the week so possible to make a trip to NY for 4 days. Just wanted to hear your view
Recruiting out of NY is harder for sure, but the good firms all still get looks. Recruiting for SF is way, way, way easier because of the lack of competition. A lot of the people I knew from SF / TO either had to wait for off-cycle or would randomly hang out in NY waiting for things to kick off... Not a lot of great solutions unfortunately.
Realize that you might have to take a fairly big concession in "brand name" to work in NY.
What do you make of the false start that a lot of the firms had? Heard Insight Partners sent everyone home halfway through without hiring anyone, and many funds did not fill their entire class. You think it was just too early? Is there a lower bound on when On-Cycle can kick off (during senior year??)
Also do you see firms expanding analyst programs? If you are hiring these kids before they even hit the desk, why wait 2 years to get them?
I think it was definitely too early, but that's how prisoner's dilemma works haha. I wouldn't be surprised if we see a second cycle at some point in early 2023, but truthfully I have no idea. I think a lot of firms aren't fully hired / accounted for yet.
Lower bound I think is still graduation. I don't think firms want to take a pure gamble on college students (e.g., in case visas don't work out).
Analyst programs are actually really hard to run well. A lot of the mega funds have tried and discontinued and then retried to run analyst programs. Most of these firms just don't have the bandwidth to train fresh hires. They like IBs to have them for 2 years so they can learn all the basics and not be as much of a burden when they join.
Have you heard about any Data Scientists in private equity? I'm a Data Scientist in consulting and am looking to transition soon. Thanks in advance!
Can you tell me the most common degree on p.e.?
Económics ? Finance? Other?
Thanks.
Yup I would say economics or finance / business management is a good guess
Hi, im at UPenn, do you know if its a major disadvantage to be someone with a BA in Econ as opposed to a BS? Curious to know how the firms view the two different degrees. Thanks
I don't think the disadvantage lies in BA vs BS, I believe it has more to do with the fact that a BA in econ from Penn is CAS while a BS in econ is from Wharton. Wharton>CAS but CAS is still a target school for banks so not a MAJOR disadvantage but definitley a small one.
@@pattharvey I see, that makes sense. Thank you for the reply. In my case its because of my background in bio and when i applied i thought i would major in a life science, so i didn’t even apply to Wharton. Now ive grown more interested in health care management etc. Do you think PE and IB see any upside to my background if i were to try and recruit for their healthcare groups?
@@accomplished_4725 Probably, especially if you have solid experience associated with bio and healthcare. That's something the average person who's been interested in ib from the start won't have.
@@pattharvey Ok, thanks so much for your help.
Wharton > CAS for sure, but Wharton is like the #1 placing school in finance. CAS is probably like low-tier target school I think.
Are your courses relevant to PE recruiting in London?
The recruiting / headhunter stuff won't be as relevant, but all the technicals are going to be the same. We have a lot of successful customers from London.
@@PeakFrameworks thanks! At a bb right now in london looking to exit to PE. Will be buying your course
I think it is a bigger risk to focus on kids who go to these big schools and may or may not pay attention in class! IF the need to be first with talent means you take a name school with no experience you could be setting yourself up for failure. Plus it is tragic for someone who has more ability but went to non-target schools leaving out them out because they did not have enough connections or money to go to a target school!
You have to be very smart to get into the top schools so they will excel in the role. Anyone can get into a non target
@@EvadeModsRGH nah i use to work with people from berk and she was so dumb. there are people who are good at test taking and people who are good at working
What does bro use on his skin tho