Work in Private Equity

Do You Really Want to Work in Private Equity

I receive e-mails every week from eager young professionals looking for an entry point to the private equity industry. A familiar phrase is “I want to work in private equity” but I would guess that few really consider if they can commit to a career in private equity. So, I’m asking potential private equity professionals, do you really want to work in private equity?

There are an infinite number of careers you can pursue, but if you are reading this blog we can assume that you have settled on finance. Committing yourself to working in the private equity industry is a necessary first step toward achieving that goal. If you are simply trying for any business or finance job that you can find, you are at a disadvantage to those who have a
single goal of working at a buyout firm.

If you do not commit exclusively to private equity you have to spread yourself and your resources over several industries which makes it significantly more difficult to meet with people connected in each industry. While you are are spreading yourself too thin across hedge funds, private equity, mutual funds and other areas; a committed competitor is networking with private equity professionals, joining private equity associations, interviewing at with managers and partners and taking other concrete steps toward a private equity career.

If you really want to work for a private equity firm, it will show in your self-discipline, networking, knowledge of the industry, passion and, ultimately, your actions. You can change
your mind later, but if you want to try to work in this industry – go all in and learn as much as
you can. Make the decision to change focus, commit to it for three to five years and see what
comes of it.

A common question during an interview with a private equity firm or recruiter is “Why do
you want to work in private equity?” If you can offer an honest answer that displays your dedication and interest in the industry, then you are on your way.

If you’d like to learn more about the industry please see our Career Guide which has helpful resources for advancing your private equity career.

Looking for a job in private equity or would you like to advertise an open position on this website? See our Alternative Investment Jobs.

Usual disclaimer: This does not constitute financial advice, see a licensed professional or legal consultant before following any recommendations from this website.

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Private Equity Service Provider Jobs

Private Equity Service Provider Jobs

I receive many e-mails each month from professionals interested in working in private equity. They are hardly ever searching for a position outside of a private equity firm, as a service provider. This is not really surprising considering the great compensation and benefits from working for a private equity firm, but a service provider career can be just as rewarding. You miss out on some great job opportunities by strictly limiting your career search to the typical positions within a buyout firm such as analyst, associate or junior portfolio manager.

While some service provider jobs may seem less glorious than working directly for a private equity firm, there are great career opportunities for someone who has experience in fields that may not fit exactly into private equity. For example, an accountant may have an interest in private equity but has no experience in raising capital, investor relations, finding and executing deals or any other part of the buyout process. While he may have a tough time finding employment in a private equity, he could be taken on as a specialized alternative assets auditor. This offers competitive compensation and a chance to work one on one with buyout firms because service providers work with multi-million dollar and even billion dollar clients.

Attorneys, third-party and fund-of-fund marketers, fund administration and IT technology service providers can also work in the private equity industry. By taking the less traveled route, career professionals can land high-paying and rewarding jobs in private equity.

See our Service Provider Directory:

• Auditors & Accounting Services
• Fund Administration Services
• Marketing and Sales Consultants & Resources
• IT Consultants & Technology Services
• Attorneys & Lawyers

Tags: Private equity, private equity service provider, private equity service provider jobs, private equity services, private equity careers, private equity jobs

Private Equity Job Market

Update on the Private Equity Job Market

It is possible to find a job in private equity but it isn’t easy, according to Abby Adlerman of Russell Reynolds Associates, a leading executive recruiter. There are a few industries that are actively seeking new talent although a lot of this hiring is focused on the portfolio management side.

Private equity firms are hiring very selectively on the principle level. On the portfolio side, operations managers and executives are in high demand as private equity firms focus exclusively on their portfolio companies. Distressed credit investing and secondary purchases are two areas of high-demand as well. Additionally, renewable energy and infrastructure are expanding and requiring a lot of new talent. Alderman estimates that experience is the most sought-after quality during this rough time for private equity.

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Private Equity Job Market

Tips for Entering the Private Equity Job Market

Many Private Equity Blogger readers are MBA students/recent graduates or professionals hoping to make the switch from another finance career to private equity. I have made a point to update the site with as many resources as possible related to private equity careers. For other Private Equity Blogger career resources please refer to the list at the bottom of this post.

Speakers for the recent private equity and venture capital conference at the Harvard Business School cautioned that today, MBA grads need to have some patience–along with good grades and experience. Those who graduate with a Masters in Business Administration are faced with a very adverse private equity job market, perhaps only rivaled by the burst of the tech bubble. Many firms are imposing a freeze on hiring or even cutting jobs–see Carlyle cuts 10% of staff. This leads Rob Go, a senior associate with Boston-based VC firm Spark Capital, to warn, “Think about the funds that you want to join and then think out two to three or four years.”

Interestingly, the private equity industry speakers suggested that hopefuls turn to alternate routes rather than focusing only on private equity, such as with the government or within a start-up:

“If I were looking for a job, I’d work at [the Department of Energy] for a few years and then come out and [find] a clean tech firm that has to penetrate those [regulatory] networks,” said Craig Driscoll, a partner at Lexington, Mass., venture capital firm Highland Capital Partners LLC.

Another suggestion was to make an effort to separate yourself from the other job candidates with special skills: “Take an unconventional path and be okay failing,” said Josh Wolfe, co-founder of Lux Capital Management, a New York venture capital firm. “Running with the herd made sense with the vast majority of the evolutionary past, but it doesn’t make a lot of sense in an investment world.”

The moderator of the event, a partner and head of a New York-based private equity recruiter, similarly spoke of thinking outside the box by seeking positions besides an analyst or partner. Instead, he advises to look into investor relations or risk management for private equity firms because positions such as the CFO or COO for a large firm can be highly lucrative and rewarding.

Although the panelists cautioned against working at a second- and third-tier private equity firm, they concluded on an optimistic note, with one VC remarking: “In 2001 to 2003, we saw MBAs with anxiety, but that vintage of MBAs has turned out pretty well. The people that have been through a crisis come out more battle hardened.”

For other articles on private equity careers and jobs visit the following links:

• Complete Private Equity Jobs Guide
• Finding a private equity job
• Private equity job salaries
• Private Equity and Hedge Fund Jobs

Source

Tags: Private equity jobs, private equity, private equity careers, private equity job market, private equity job placement, private equity job, private equity career, finding a private equity job

A job in private equity can be both challenging and highly rewarding, which explains the very competitive private equity job competition. So, gaining an advantage through articles, advice from professionals and research is increasingly valuable in finding a private equity job. If you are looking for a job, please see our Alternative Investments Jobs.

I am often contacted by young professionals who are eager to get a job with a private equity firm and want to know what it takes to get there. Landing a job in this industry is no simple feat but with the right credentials, a great work ethic and dedication to working in private equity it is possible. I have compiled a free guide to help people interested in working in private equity with some knowledge that I can share as well as other resources that I have found helpful. I will be updating this guide to make it very comprehensive and a great tool for finding a private equity job.

If you would like to have a job listing posted on Alternative Investments Jobs, please e-mail me at Theo@PEblogger.com

Private Equity Job Opportunities

• Private equity MBA: Here is an article on how private equity is attracting MBA graduates.
• Resume writing: This article provides tips for writing a resume with a focus on private equity careers.
• Private equity associate: A private equity associate is the typical entry-level position for MBA graduates and this shows what that position entails.
• Private equity partner: The private equity partner is a sought-after position in private equity firms, this is a overview of the qualifications and duties of a partner at a private equity firm.
• Venture Capital Associate: This article emphasizes the associate position at a venture capital firm.
• Private Equity Positions: A general overview of the different positions at a private equity firm.
• Private Equity Job Database: This is a collection of job database websites.

Tags: Private equity jobs, private equity job, private equity jobs guide, guide to private equity jobs, private equity career, private equity careers, private equity, private equity resume, getting a job in private equity

Private Equity 2008

Private Equity Hiring Trends for Spring 2008

Tags: private equity jobs, private equity 2008, private equity career, private equity 2008 report, private equity careers, private equity job data