Getting a job in private equity is notoriously tough, especially for junior talent.
To be considered, you must generally be on a competitive investment banking career track and willing to do anything to interview for jobs that will not start for another two years.
As convoluted as it sounds, the mad dash known as on-cycle recruiting has long had one constant: It typically kicked off every summer in chaotic fashion, forcing aspiring dealmakers to drop everything at a moment’s notice to compete.
Not this year.
For the first time in recent memory, the starting gun never fired. PE’s chaotic recruiting race has been put on ice—indefinitely—leaving junior bankers in limbo. Instead of starting their finance careers with future-dated private equity jobs, junior bankers are entering the fall uncertain about when they might get the chance to compete — raising questions about this career path.
Business Insider has been tracking the twists and turns, from JPMorgan’s early crackdown to the new policies taking shape across a range of firms, from Goldman Sachs to Bank of America.
The story is far from over. Industry recruiters say it’s too early to know whether the PE recruiting playbook is just delayed or being rewritten. We’ll update this page as things unfold. Stay tuned.
Read the original article on Business Insider
