ON CYCLE 2023 MASTER THREAD

It does not seem like there is a consolidated thread for the 2025 process. 


Unfortunately, rumor has it on-cycle is starting sometime soon. Some firms are reluctantly preparing, but I figured we could keep the hearsay in a condensed place.


Thanks!

 

CPI is calling folks letting them know some of their big clients are ready to go...

 

At UMM/MF. We have spoken to our HH but was more of a catch up and don’t have plans to kick off anything soon. That being said only takes one to start the fun.

 

Anonymous Monkey:

how much control do people at the firm have? Gold Coast is still blue balling me wondering if I can backchannel my way in 

Take the hint

 

ah you think they would have already flagged my resume to the headhunters? fuck the truth hurts 

 

UPDATE: didn't end up getting it but ended up backchanneling my way in - screw this guy

 

Can you elaborate on the intensity and what the interviews looked like?

 

Went through all interviews at AEA, didn't get the offer despite being confident that I did quite well. Think they only gave a small handful of offers out

 

Modeling test went poorly. Should I look to another firm or do I still have a chance?

 

Received another 2 rounds after and am getting positive feedback- do you think they could just be stringing me along? I have another setup for tomorrow in any case 

 

Thats already happening. First rounds were basically done at top targets this past year (coded as plan networking or informations sessions).

That's why people shouldn't stress if they didn't get invites, there will be plenty of seats after this crazy early start.

 

For those that have gone through modeling tests already, how are they looking? Any input would be appreciated

 

I declined an interview tonight and had it scheduled for tmw morning! Don’t give up 

 

Did Francisco go? Got a couple other ongoing processes but wondering what is happening with them/are they waiting/are they doing some on and some off. Would love to just see if they are interviewing or have given out offers

 

I assume it's mostly target kids getting these early interview rights? I'm at GS/MS at 1B level group. Ton  of HH outreach and some information session invites but no interview invites yet. I'm non target so I assume they are prioritizing targets and I'll probably get more invites this upcoming week and after perhaps?

 

Think so, easy filter - I’m non target going to one rn but I also dfk how lmao. Gear 5 next Saturday so it’s not of consequence

 

Was the interview with a MF or more of a UMM/MM fund? I have told HHs I'm targeting large cap funds so that might have something to do with that as well I assume since they are prob aren't sending me UMM/MM interviews because of that.

 

Yea, people shouldn't stress about skipping this on cycle. I forsee a busy lat 2023/early 2024 recruiting cycle. These firms are not filling their classes with this oncycle. Lots of analysts are skipping.

 

Im sure there is kids who went in unprepared and will get cockblocked by HH in the future. Reputation is #1

 

Could be a stupid question - but if you intend on skipping on-cycle, should I fill out the form the HH sent or not? Should I let them know I’m not recruiting this cycle in an email? Just want to ensure I maintain the relationship

 

what bank and are you a target? who gave you that feedback too lmao

 

Anyone got an offer from Carlyle Consumer / know if they are still interviewing?

 

The one interview invite I got was for this morning at 7:30am and it got cancelled... ~$10BN+ AUM fund. Is on-cycle really over? Have a friend interviewing at TPG this morning and we both go to semi targets first years at GS/JPM

 

Yeah makes sense.. have heard from my class its mostly growth actually, not buyout so should just wait it out for this next week

 

Anyone have intel on Maple Capital’s participation in on-cycle? I have a target school / top group at GS/MS/JPM background so I think I have a shot—but haven’t heard anything from them yet.

 

Anonymous Monkey:

Anyone have intel on Maple Capital's participation in on-cycle? I have a target school / top group at GS/MS/JPM background so I think I have a shot-but haven't heard anything from them yet.

At a CVP/Evercore/Moelis - got a text from them to come in last night. Hardest modeling test I have ever done.

One other person from my class also got an interview, and anecdotally both of us had BB summer analyst positions sophomore year and some of the highest GPAs in our group, so I think they are just screening for that. Haven’t heard anything back yet and neither has the other analyst.

Knew going into it that they were known to be among the hardest firms to get into, but was shocked by the difficulty of the test.

 

Haven’t heard much about Maple Capital, how many people do they generally take during on cycle? Seems completely under the radar

 

Anyone know if private credit arms are recruiting on-cycle with buyout?

 

Considering it sounds like only select top funds are giving offers right now, are those you know getting offers coming from the usual top groups?

 

So is oncycle technically over I guess by the end of today?

I feel like there is going to be another oncycle like wave that's like an accelerated off cycle in the winter or a bit earlier because there are way too many analysts from targets/semi or top EBs/BBs/groups who skipped to focus on training and studying for series exams.

 

No one skipped oncycle to focus on training or the Series exams who is a serious contender for oncycle lol. They skipped because they were unprepared which is valid, but it’s not like training is more important than being staffed on live deals which is what people typically have to skip

 

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