Tips For Finding A Successful Career In Private Equity
For those interested in the financial sector, private equity is an appealing career option. These businesses offer competitive salaries, as well as incentives and bonuses. Even in your first year, you have the opportunity to make a lot of money. In addition, the career has a high level of status in the financial sector.
Private equity, on the other hand, is difficult to break. Recent graduates compete with seasoned investment bankers and stockbrokers. The field’s controversial reputation among politicians and pundits adds to its attractiveness. The field’s leaders get portrayed as corporate raiders or soulless suits who force their way into businesses and eliminate employment and profit.
Learn More About Headhunters
Most private equity organizations are so lean and efficient that human resources get not even handled in-house. They hire third-party recruiting firms to manage 90% of the hiring process, resume screening, initial interviews, background checks, drug tests, and other details.
You will meet the firm’s executives throughout the interview process, and you will only have one chance to make a good impression, according to Investment Advisor Joseph Stone Capital. However, you are likely to be familiar with the headhunting business well before that point.
The People in the Field’s Names
Only a few headhunting businesses have private equity links, according to Investment Advisor Joseph Stone Capital. The Oxbridge Group, SG Partners, CGI, and Glocap are among them. Don’t expect a recruiter from one of these companies to find your resume on Monster.com or LinkedIn. There’s no need for private equity recruiters to browse the internet because they’re overwhelmed with resumes from aspirants.
You must start contact to appear on a headhunter’s radar. Sending a résumé through email and waiting for a response is insufficient. Follow up regularly.
Obtain some relevant experience
On college campuses, private equity firms do not recruit in large numbers. At their campus employment fairs, even premier business schools like Princeton, Harvard, Yale, and the Wharton School saw virtually little activity from private equity recruiters.
Inexperienced business school grads, no matter how clever, are likewise unlikely to get hired by these companies. That is, once again, a function of supply and demand. Private equity firms can demand experience and attract eligible individuals.
Internships are an excellent approach to gaining experience in a firm.
Internships are crucial, and they cannot get emphasized. Apply to any private equity-related job you can find during your undergraduate and business school summers. If an equity internship isn’t available, go into venture capital, investment banking, or asset management. The idea is to demonstrate to recruiters that you are more than simply another high school dropout.
Be ready for a time-consuming and demanding hiring procedure.
No matter how skilled you are, private equity is not a field where you can send your CV on Tuesday and begin to work on Monday. Large corporations conduct interviews in January to pick employees who will start working the following season. It could require a year and a half or more from your first appointment to your first day at the job.