For a senior role (Principal, MD) when do firms typically do reference checks-Before or after extending an offer? In conversations with a PE firm and it’s going well. The founding partner said during the in-person meeting they really like me, have gotten positive feedback from every partner, and see a good cultural fit. Wonder if this means they’re close to extending an offer or is this typical to say and could still lead to no offer

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Reference checks are after offer is accepted usually

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For my firm, it was done in parallel. The time is takes to get names, schedule calls and do the calls is usually a couple of weeks. During this time, firm will likely congregate and put together offer for you. PE guys are not going to waste time and do reference calls unless they are truly interested and/or going to extend an offer.

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Thanks MK1! This is helpful. Was curious to see what the typical timeline might look like. Also imagine they can’t be just just shooting shit and telling me they like me. All the signs point to this leading to an offer but I am trying to avoid getting exited until I see the official offer come through

From experience, for more senior roles, interview process is 3-4 months (especially for smaller funds, it’s going to be like 10-20 people). Offer process is likely another 1-2 months with the reference check, offering, signing, negotiating etc.

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Seen it both ways but generally before.

I work at a megafund. We check the references you provide post-offer, but we absolutely do call around to everyone we know to check up on you before the offer.

Gotcha. Thanks this is helpful. Would the partner be sharing overly that they like me and enjoying the conversations, and go as far to say culturally I am the right fit if they weren’t thinking about the offer? There is a mutual 3rd degree connection that we spoke about and I am wondering if the delay is now because they are checking with the reference

Well that’s obviously not a bad sign, but I wouldn’t read too much into it.

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