They can get a flurry of emails from headhunters just a few weeks after starting new jobs.
Junior analysts a few weeks on the job can now expect a flurry of emails from headhunters for some of the most prestigious private equity firms in the world. The jobs they’re being recruited for can pay more than $200,000 a year and won’t start until 2019. The battle to hire the best of them is fiercer, and more urgent, than ever.
Buyout firms are tapping junior bankers earlier -- advancing the annual recruiting cycle, the industry’s biggest window of hiring, for the fifth consecutive year after an agreement to hold back fell apart. The shift comes as a war for talent heats up in private equity, where firms are raising record amounts of capital from investors starved for yield while competing for talent against rivals and Silicon Valley technology companies. To lock down the brightest candidates, mega-funds such as KKR & Co., Warburg Pincus and Carlyle Group LP fill up their classes as early as the first day of interviews.
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