Assuming you don’t like your fund (I’m in this boat) at what point do you tell the HH that placed you? Obviously they’re unlikely to help you leave within your 2 year program but can you reach out to them to help place you for roles after your 2 years? If so, when should those conversations happen?
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When considering the timing for reaching out to headhunters (HH) about your interest in lateral opportunities, especially if you're contemplating this move within the context of a structured program like a 2-year stint at a fund, there are a few key points to keep in mind:
Timing and Discretion: It's generally advisable to start these conversations with headhunters towards the end of your program or after you've completed a significant portion of it. This is because headhunters, especially those who placed you, understand the typical commitment periods and are more likely to engage seriously with candidates who have honored these commitments. Engaging too early might not only be futile but could also risk your current position if word gets out.
Strategic Approach: Before reaching out, it's crucial to have a clear understanding of why you want to make a move and what you're looking for in your next role. This clarity will help you articulate your goals to the headhunter and make a stronger case for why they should help you find your next opportunity.
Building Relationships: If the headhunter who placed you is specialized in your area of interest, it's worth maintaining a good relationship with them throughout your tenure at the fund. This doesn't mean you should express your intent to leave right away, but rather keep in touch on a professional level, sharing updates about your progress and achievements. This way, when the time comes to discuss lateral moves, you've already established a rapport.
Timing for Outreach: Ideally, you should start reaching out to headhunters about 3-6 months before you're ready to make a move. This gives them enough time to identify suitable opportunities and for you to prepare accordingly. If you're targeting a move right after your 2-year program ends, consider initiating these conversations in the third quarter of your second year.
Exploring Multiple Avenues: While the headhunter who placed you can be a valuable resource, don't limit yourself to just one contact. Reach out to other headhunters who specialize in your target area, as this will increase your chances of finding the right opportunity. Each headhunter has a unique set of clients and opportunities, so diversifying your outreach can be beneficial.
Remember, the key to a successful lateral move is preparation, timing, and clear communication of your goals and achievements. By strategically engaging with headhunters and articulating your value proposition, you can navigate towards a role that better aligns with your career aspirations.
Sources: Best Practices for Finding Lateral Opportunities, PE Lateral Recruiting Advice/Stories/Help?, Guide to Lateraling in 2021, Did on cycle just start?, When to jump - Advice on switching jobs, careers, and fields
The headhunter who placed me says that they replace a lot of people (think 5/8) or so in 6 months to 1 year after placement
Isn't there some sort of clawback or free replacement they have to do if their placed client leaves early?
Not sure if this is semantics but if I read this directly this means the headhunter brought in new people at your current firm (ie; continuing to represent their client, the firm) rather than trying to place a candidate that they placed into their client into a different firm.
Short of the matter is though, most headhunters are explicitly prohibited to not poach from current firm and even if they aren't they aren't going to risk burning a relationship to help a sole associate move.
Does this apply for post 2 year stints? Like if they placed you and you did or plan to do 2 years can they help you for the post stint?
No. The HH said that out of all the people across all firms that they placed at, majority is changing jobs / being re-placed. Firm is still responsible for hiring the right talent, HH is only a freight forwarder therefore no clawbacks, at least in this region, pretty sure it also varies on an individual contract basis
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