Apollo Halts Early Hiring for Class of 2027 Amid Bank Backlash

Apollo Global Management has decided to halt interviews and job offers for the class of 2027 amid growing industry criticism over the practice of early recruitment in private equity. The firm, led by CEO Marc Rowan, emphasized that graduates should first gain foundational business experience before committing to long-term roles, aligning with concerns raised by major banks such as JPMorgan, whose CEO Jamie Dimon has condemned the early hiring process as unethical and a source of conflict. This pause affects recruitment for private equity, hybrid capital, and financial roles and comes after JPMorgan warned incoming analysts they could face termination if they accept future-dated offers before completing 18 months at the bank. Apollo's move highlights a broader industry reassessment of talent acquisition strategies, aiming to reduce turnover and ensure hiring decisions are mutually beneficial and well-informed. The decision may set a precedent for other firms and influence recruitment trends across the financial services sector, reflecting a shift towards prioritizing career development and long-term growth for young professionals. This development underscores ongoing tensions between Wall Street banks and private equity firms over how to secure and cultivate top talent effectively.