Inside the private equity recruiting tornado that just hit — and why it may be turning some young bankers away from a career on the buyside
"Honestly, it has been making me think that private equity especially is just such an abusive industry," they said."Their expectation is that you shut your mouth, give up all your free time, have no personal life, have no relationship time, have no family time, and get barely any sleep — all because they just shove $350,000 down your throat."Over the years, on-cycle recruiting has crept up on candidates earlier and earlier.
"PE firms need to make a pact to stop this or else they're going to screw themselves — not even with lower quality candidates necessarily, but with people who aren't even sure what they want to do," this person said. "I would warn you to be careful about going 'wave one' because you might embarrass yourself. And if you embarrass yourself, the only bummer is, we'll have seen you not do great. We'll understand, and that firm will say, 'eh, they weren't prepared, they weren't good enough.' So I would be careful about that."
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