Monday, September 16 - "How Do I Get Into PE"

Good morning!

Happy Monday!

Here’s what’s on the job description for today:

1. New roles at one of the trendiest and fanciest fitness companies out there.

2. William asks, “private equity looks really interesting and I think I’d be good at it. How do I get into it?”

IN HIRING

Equinox

• The company that makes gym memberships seem more like an exclusive club for the rich and good looking, Equinox is a mix between lifestyle brand and fitness trend.

• Over 400 jobs are open from all over world including the UK, Canada and USA.

• Here are a few of the most interesting roles available

  • Senior Manager, Financial Analysis - Click here for full details

  • Compensation Manager - Click here for full details

  • Senior Manager, Business Intelligence - Click here for full details

Click here for the company’s career page

TODAY’S QUESTION

William asks, “private equity looks really interesting and I think I’d be good at it. How do I get into it?”

Recommendation: private equity is tough to get into, and how to get in is quite dependent upon where you’re looking. Here is what I’ve seen work for some of the larger markets in the world:

• First, know that there is a massive difference between working in private equity as part of the investment team vs other functions.

  • Most people think of private equity in terms of working as part of a small team, finding and valuing companies, that will then be bought. If you’re doing this, you’re part of the investment team.

  • Other roles include business development, investor relations, and a portfolio team which takes the already bought businesses and tries to improve them or certain parts of them so they can be sold for a higher valuation.

• The hiring process for those two sides of private equity work quite differently:

  • Investment team: this is the cream of the crop in terms of difficulty when it comes to hiring. The most common way to find interviews is through building a relationship with head hunters who work directly with the private equity firms and getting them to know your story of why you’re a good fit and what relevant experience you bring to the table.

  • Non-investment team: for these roles, hiring is a bit more straight forward with roles being posted and networking playing a big part in the process. You’ll likely need a good relationship with someone working at the firm or very direct experience in a similar field to get a good look.

• Finally, know that private equity is one of those industries that is hyper competitive and very challenging, if you’re aiming at a big firm and you’re not coming from a well-walked path such as investment banking or accounting.

  • A less obvious route is to find really small firms that look more like a group of students who are trying to set up a fund. These companies or student-run organisations pay less upfront but give you exactly the experience you’re looking for.

  • If this is something you’re looking for, I have some contacts and would be happy to set you up if there’s a fit.

Conclusion:

You’ve decided to take a difficult path by exploring private equity but there are few more interesting and dynamic careers.

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