- General Atlantic halts 2027 associate recruiting, a day after Apollo also pulled the plug.
- On-cycle recruiting has shifted earlier, leading to criticisms from across Wall Street.
- JPMorgan CEO Jamie Dimon called the practice “unethical” and the bank recently cracked down on it.
Another private equity firm is putting a palm in the face of oncycle recruiting, Business Insider has learned.
The growth equity firm General Atlantic just told candidates it won’t participate in buyside recruiting for 2027 associate roles, according to official emails sent by GA leaders to candidates who were expecting to take part in this year’s on-cycle recruiting process.
The decision follows an earlier move this week by Apollo Global Management, a large private equity and alternative asset manager, which similarly pulled the plug on 2027 buyside recruiting after the bank JPMorgan Chase prohibited juniors for taking part, lest they face termination.
The on-cycle recruiting process, which has shifted earlier in recent years, has moved so early that its timeline interferes with incoming junior investment bankers’ graduation and summer plans, and overlaps with the start of their jobs.
“We encourage you to embrace this opportunity with energy, commitment, curiosity and an open mind. These early experiences will shape your vision for your future and help inform the decisions you make about your next steps,” Annie Dahle Paydar, a managing director and global head of human capital, wrote in two emails reviewed by Business Insider.
“In support of that transition, General Atlantic does not plan to conduct formal interviews or extend offers this year for the Associate Class of 2027,” Paydar added. “This decision reflects our commitment to making long-term, thoughtful choices about the talent we bring into the firm and the culture we cultivate, while also allowing you the space to prioritize your development in this stage of your career.”
This is a developing story.
Are you a Wall Street professional planning to participate in buyside recruiting? Contact these reporters. Reed Alexander can be reached via email at ralexander@insider.com) or SMS/ the encrypted app Signal at 561-247-5758. Emmalyse Brownstein can be reached via email at ebrownstein@businessinsider.com or SMS/ the encrypted app Signal at 305-857-5516.
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