Signed a PE Offer last night. The obvious is known to me (you have a fucking job) but do you just go two years with no communication until the months leading up? Do they background screen before you sign? Do you attend firm events throughout the year? What’s it look like from receiving the offer till hitting the desk?
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Yeah, PE is fucked lmao
We are living in the end times
The firm I signed an offer at only had a couple people cross the finish line, so I doubt they’re done recruiting this wave. I’ve heard from many HHs in the past couple of weeks that they believe at most 50% of seats among the firms going right now are going to fill, and there many firms, including the one I signed at (CD&R, Carlyle, Bain Cap, Apollo) that had a small amount of candidates in the zoom lobbies. Will not be surprised if this continues today and even potentially tomorrow and if more firms who were caught off guard start interviewing throughout this week.
Regardless, this shit is so fucked up. Luckily I had prepped lightly in April and right after grad and got my family vacation out of the way before this kicked off. It definitely seems to me that there has to be a later wave occurring in later July- early august and that more total jobs will be available then than there were in years past. Be prepped for that when it comes and if you get the call today or tomorrow, take it if you’re ready. Worst case scenario is getting the call and bombing your accounting questions. Not hearing right now is not indicative of anything other than the firms that are going right now are being ridiculously selective and the HHs are only putting a small amount of candidates in front of firms. When you start subtracting out people that are not in top groups, not at top banks, potentially on vacation, or just simply not ready, there’s only so many candidates a firm can pick from.
With that said, still super interested in the question I originally asked. What happens next and what can I expect in the years leading up to the job. Going to be beneficial for anyone that signs in the next couple of months, so would love to hear
Congrats on the offer! How difficult would you say your interviews were?
Couple pretty technical rounds (paper LBO, LBO questions, vertical specific questions, accounting etc) and a behavioral round (why this firm, why this strategy, what makes a good investment, what portco do you like, pitch me a company), case study of 90 minutes (bare bones template with debt waterfall, sensitivities, finding a specific entry for a specific MoM), followed by senior level interviews with MDs and a partner that combined both technical and behavioral. More philosophical at this level (how do you define success, where do you see yourself in 5 years, how do we differ from other firms) and really just more culture/mindset alignment questions. All in all, I was interviewing for over 6 hours so it was pretty intense, but if you review all the technical guides that are out there (Peak, WSO, BIWS) and do some solid research on the industry you’re wanting to go into as well as the firm and can lead a deep conversation about it, you’ll be in a very good spot
Our firm will reach out to folks that have signed to join firm hosted events throughout the year.
We’ll additionally have VPs and Partners staying in touch during the remainder of your banking years as well - just casual informal check ins
I signed during on-cycle 2022 (August 2022) and I’m starting this summer. Answer is pretty much what you guessed - probably a couple event invites over the next two years, the odd reach out about any promising off cycle candidates / on cycle candidates next year, but not much else.
Aligned with above. Usually pretty quiet until closer to start. You may get to join an event or two, perhaps get sent some swag. Mostly look out for emails from HR closer to your start date, but don't fret if limited correspondence.
Signed an offer on-cycle in 2022 for a start this summer. Didn't hear anything until I was invited to the firm Christmas party in December 2023.
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