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What is the hiring process of persistent systems? I am done with one technical round and got an email with subject line as 'feedback' but in mail it is written that they will get in touch with me. What does that mean? Will there be more technical round or managerial round?
Persistent Systems Limited
I applied with EY for a Senior Manager role I had my first stage interview with a senior manager, which I thought went well as I got the partner interview 2 weeks later, and said I'll be contact within 10 day HR. This did not happen so I chased up. Today I received feedback from HR stating that the senior manager, who would have been my peer, said I didn't have enough experience. But the partner who I would have been working under did like me.
Is this normal with EY recruitment
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Hang in there folks
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Today was a good day
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Salary range for IR Sr. associate at $10B+ fund?
Mentor
How’s comp and culture at Altamont?
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Because not all MBB candidates are unequivocally better than all T2 candidates? Generally, MBB candidates are better, but not always. That’s why large PE firms play the odds game and generally only interview MBB candidates. Smaller PE firms don’t have that same luxury.
EYP: EYP will get you decent opportunities from recruiters. Obviously you’ll enhance your opportunities if you have EYP plus a solid undergrad and/or MBA. Where you got your education at not being a indication of intelligence per se, but drive / hustle and being attuned to the interests / concerns / perspectives of the PE firm and its LPs.
The hiring for pedigree goes more in line with the old “no one ever got fired for hiring IBM” saying than raw intelligence. Shops prefer pedigree because it isn’t questioned as much by LPs, but there are countless examples of shops that hire on pedigree alone and sh*t the bed on their investments.
Maybe move to MBB first? Bain and BCG hire a ton from EYP lately.
Yeah, that's the conclusion I am quickly arriving at. Just sad because I absolutely love my team, and I've been thoroughly enjoying work on all fronts. Many long nights, but team morale is strong and keeps it bearable.
EYP was actually the only consulting firm I had ever applied to out of college, so perhaps I could try my chances at one of the BBs for their PEG/PIPE practices. Thanks for commenting!
Yah T2 here at a top GE shop. Definitely outlier but you can make it happen if you try. Reach out to all HH so you don’t miss any opp
Geez what a twisted clout crazed world we live in. I came from a T3 consulting firm. News flash, the school, brand name firm that people come from doesn’t make someone better than another individual. It comes down to experience, work ethic, and talent.
Golden gate, charlesbank, and THLee have associates from T2 consulting listed in their website
Mentor
Golden gate only hires non-MBB for their IR / BD roles.
Mentor
I come from a T2 background in UMM. I got here because, quite frankly, I worked my ass off, earned it and am better than some of my colleagues. It was hard and I am an outlier but firms have realized talent is in a lot of places.
Mentor
But it’s seems like to transitioned to IB not PE…
Depends entirely on (people) size of the firm. Some huge funds (capital wise) only take a couple a year while there are smaller shops with more people making 3-4 hires per year.
Reason they’d look is
a) because there are so few hires they’re fanatical on fit
b) AVERAGE talent may be lower at T2 firms, but they do a bunch in the interview process to suss out individual talent
I mean, just go to the Team pages on the websites of the funds you’re interested in and you can get a general headcount. Also you can see people’s backgrounds and whether a T2 consultant would stand a chance
I've been thinking about this a lot lately as well. I'm wondering if the so-called "great resignation" will cause PE to become even more volatile in terms of retention (if that's even possible). Point is, I'm not sure average attrition would necessarily apply given the current market. Hopefully someone will weigh in with more insight.
Funds will always make rational decisions, and where you work is one of the main indicators of your traits and experiences. All else equal, 90% of funds will always pick BB IB > MBB > Tier 2/3 IB > Tier 2 consulting. You can network your way in, and that has of course worked several times before, but that’s an exception to the rule: you’re moving against the tide
Top EB IB at same level or higher than BB