How To Get A Private Equity Job
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Private equity firms are much smaller than investment banks, so they outsource much of their recruiting and often use 3rd party headhunting firms to find talent. As a result, you have to deal with both the private equity firms themselves and the recruiters they use.
The best way to contact headhunters is via a referral from someone else at your bank or company; failing that, you could also cold-call or cold-email them.
You can get into private equity if you're an undergraduate or business school student, a current investment banking analyst, a consultant or strategy / business development / finance person in another industry, a current private equity analyst or associate, or you're at the mid-level or top-level in another industry.
If you're a student, you need previous PE or investment banking experience to have a good shot; as an investment banking analyst, you need very solid deal and client experience and a thorough knowledge of financial modeling.
If you're not in a finance industry currently, find PE firms that complement your background. For example, if you've worked in healthcare, find firms that invest in healthcare and biotech companies.
And, of course, if you're already in private equity, it's not terribly difficult to jump to another firm - it's just a matter of contacting headhunters, making a good impression, and doing well in your interviews.
Large private equity firms such as KKR and Blackstone finish recruiting in April-May, over a year prior to when you actually start working. Smaller firms and companies in emerging markets have less standardized processes and the interview process can drag on for months at a time there.
In the recruiting process, the first thing you need is a solid resume. Your resume should focus on the best deal and client experience you have, and for current investment bankers should include any M&A, Leveraged Finance, or Restructuring deals you've done.
Outside of finance, you won't be able to write about deals as much - but you can and should focus on work that led to significant profit for your firm.
As the next step in the process, you'll meet with the recruiters that represent private equity firms - and you'll have to show them that you're not only qualified and capable of bringing in profits, but that you're also a personable character.
If you pass this initial screening, recruiters will introduce you to specific private equity firms that are a good match for your background.
In the interviews themselves, you'll have to explain your motivation for wanting to be an investor, and you'll have to complete a case study or modeling test that answers whether or not the firm should make a potential investment.
To succeed, practice makes perfect: discuss your background and motivations as much as you can, and practice building models quickly so that you finish on time when interview day comes.
Private equity interviews are even more competitive than investment banking interviews because the industry is so much smaller - if you do well, you'll be notified right away and usually have 1-2 days to decide on an offer.
Many interviews extend over months and require you to speak with every single person at the firm multiple times - so don't give up if you don't get an immediate "yes" or "no" response.
Article Source: Articlelogy.com
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