The on-cycle associate recruitment process is a high-intensity, fast-paced hiring strategy employed by many top private equity firms in New York
Targeting candidates primarily from leading investment banks, the process is unique in its speed, often unfolding within a tight 24- to 48-hour window.
This condensed timeline requires firms to make rapid hiring decisions for roles that may start up to two years in the future. It focuses on associates with minimal industry experience, sometimes even before they’ve started their first full-time role, creating a competitive environment that demands meticulous preparation from recruiters, participating firms, and candidates.
What can we learn from the process?
Izzy brings valuable experience from New York, where she played a key role in the on-cycle associate recruitment process for the past five banking classes.
In a recent webinar, she shared insights into how HR professionals can draw lessons from the on-cycle recruitment process to refine their own hiring strategies, highlighting the critical roles of preparation, engagement, and relationship-building.
Plan strategically before you begin a search
Use pre-marketing to build familiarity with potential candidates before the process begins. Attend networking events, host panels, and leverage existing relationships to develop a shortlist of strong prospects.
Invest in understanding where top candidates are coming from by mapping talent pipelines at key institutions. Collaborate with networks and senior professionals to gather insights.
Keeping candidates engaged during recruitment
Selling your firm is key in a candidate-led market. With candidates often juggling multiple opportunities, it’s crucial to present your firm as a standout choice. Emphasise your values, culture, and growth opportunities to differentiate yourself.
Maintaining momentum ensures a smooth, responsive process that keeps candidates motivated and reassured. Delays or gaps can lead to disengagement.
Building long-term relationships after recruitment
Stay connected with candidates up until they join you. Use the time before candidates join to strengthen connections through events, casual meetups, and regular communication.
Integrate candidates into the team before their start date. Help candidates feel like part of the team before their official start date by fostering rapport and alignment with your firm’s mission and culture.
How can PER help firms?
Whether it’s planning strategically before recruitment, engaging candidates effectively during the process, or building long-term relationships post-hire, PER’s expertise ensures that you can attract and secure top-tier talent.
With a deep understanding of the private equity landscape and proven strategies to streamline every stage of recruitment, PER is your partner in achieving success in this competitive environment.
If you are interested in learning more about the US on-cycle associate recruitment process, Izzy Mittag-Lenkheym, our Large-Cap Consultant based in London, would be happy to advise you.
Contact Izzy
