surviving tough private equity job interviews
DESCRIPTION
http:www.jobsearchdigest.com Tips for a successful PE interview.TRANSCRIPT
![Page 1: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/1.jpg)
© Copyright Job Search Digest
Surviving Tough Private Equity Job Interviews
![Page 2: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/2.jpg)
Extended Interview Process
© Copyright Job Search Digest
• Beware: if no offer after 3rd interview, it’s possible there will be no deal
• Issue may not be candidate– Mismatched needs– Politics and turbulence
within firm• Small vs. large firms
– Small: more informal– Large: more process oriented
“…after a point, each additional interview dims the candidate’s private equity job prospects.”
![Page 3: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/3.jpg)
The Longer the Process Goes…
© Copyright Job Search Digest
…the worse it looks for the private equity job candidate
Whether it’s a case of a skill set or career path mismatch, or a complex screening process
![Page 4: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/4.jpg)
The Four-Interview Rule
© Copyright Job Search Digest
• Consistent anecdotal evidence from other PE job searchers– Even after extensive interviewing over long time
periods, often no offer is extended
– Results may vary
– May also depend on how urgently firm needs to fill position
![Page 5: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/5.jpg)
On the Case
© Copyright Job Search Digest
• Demonstrate balance– Soft skills– Hard analytics
• Most firms prefer trained candidates with proven track record
• Quant ability is important– Difficult to express in
an interview– May level playing
field for career switchers
![Page 6: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/6.jpg)
Case Study
© Copyright Job Search Digest
• Typical scenario: interviewee given homework assignment– Review financial & operational details of a
company & report back with opinion• Tests ability to analyze
& establish valuation– Demonstrates summary &
effective persuasion• It is also a trap!!
“…no private equity firm is going to show
you the numbers of any investment alternatives
that are winners.”
![Page 7: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/7.jpg)
Interview Questions - Asking
© Copyright Job Search Digest
• Prepare: find out about the person with whom you are interviewing– Good online sources:
• Google• LinkedIn
• Ask about what they are working on– But do not try to impress by showing how
much you know– Project confidence, desire to learn, and zero
arrogance
![Page 8: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/8.jpg)
Tough Interview Questions
© Copyright Job Search Digest
• “What are your weaknesses?”– Consider restating
your response as “My biggest professional mistake was…& what I learned from it was…”
• “Why do you want to work here?”– Be specific to
the firm– Consider specific
sectors and geographies that interest you
![Page 9: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/9.jpg)
“Do you have questions for me?”
© Copyright Job Search Digest
• Don’t:– ask personal questions or inquire about things you
can find/estimate via research
• Do:– Ask about specific deals interviewer worked on &
what lessons were learned– Ask what kind of help they need on their team– Ask what day/week is like or “if I were to come to
work here, what advice would you offer?” (junior level)
– Ask “what are your expectations of the person you hire in year 1, year 2 and so on?”
![Page 10: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/10.jpg)
Be Prepared for Ethical Questions
© Copyright Job Search Digest
• May be hypothetical or may be based on previous situations firm has encountered
• Gray areas – may not be a right or wrong answer
• Interviewer may be more interested in your ability to make judgments– how those align with the firm’s policies or the
interviewer’s own ethical perspective
![Page 11: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/11.jpg)
Summing Up
© Copyright Job Search Digest
• Multiple interviews– Smaller firms & more junior
the level, the more time spentinterviewing is a good thing
– Senior level/large firms, you may get lost in the process
• Make sure your math skills are up to par
• Don’t be afraid to ask where you stand in the process
![Page 12: Surviving Tough Private Equity Job Interviews](https://reader036.vdocuments.mx/reader036/viewer/2022083000/5576beccd8b42ad0448b554a/html5/thumbnails/12.jpg)
© Copyright Job Search Digest
Thank You
Visit JobSearchDigest.com for more information
Images used with permission from Microsoft