Apollo delaying junior talent recruiting cycle again, pushing industry to abandon chaotic ritual

Apollo Sets a Later Timeline

Apollo will wait to recruit candidates who began investment banking careers over the summer until they are closer to completing a full year of professional experience. The decision was announced in a memo signed by David Sambur, co-head of Private Equity, and Antoine G. Munfakh, deputy global head of Private Equity.

The memo says a later process could help candidates and employers make better decisions. Apollo also said it would give candidates ample time to prepare, interview and consider offers once formal recruiting begins.

A Push for Other Firms

Apollo hopes other private equity firms will delay recruiting this year. Last year, after CEO Marc Rowan said Apollo would postpone on-cycle hiring, firms including General Atlantic also paused their processes.

The memo said Apollo was encouraged by similar steps taken elsewhere and hoped more firms would join this year. Apollo plans to continue meeting candidates and introducing them to the firm and its career opportunities in the meantime.

Advice for Early-Career Bankers

Apollo encouraged young professionals to focus on their current jobs, learn, build relationships and develop judgment before deciding what comes next. The firm said candidates should take time to discover what interests them. The memo described investment banking as an exciting and demanding period, and said young professionals deserve more time to gain life and work experience before making major career decisions.