90% of Analysts Will Never Break into Private Equity🤫
Are you ready for this year’s wave?
2023 has come and I feel like it’s been hitting harder than expected — we had (or rather have) the GS layoffs continuously happening, various other firms as well experiencing lay offs — PE rather ramping up recruiting efforts… we’ve been ramping up some Mentees that come in HUNGRY AND ready to WORK (read our The “My PE Interview is in 48-Hours” Prep Guide”) but then also hearing the same old excuses from a few Mentees around “not sure if this is the right time” “I’m not sure what I really want to be doing” “I have work” “my bonus won’t be great but I still have to work” lol (read “Why Pursue a Career in Private Equity”) and
“So, let’s assume that for whatever reason, your idea of the “perfect” job doesn’t seem like it will be happening right now. As you’re exploring alternatives, what should you try to prioritize in your search?
A broad scope: The reason why investment banking and consulting roles seem to open so many doors is not because they are the absolute best way of dedicating a few years of your life. Rather, it’s because they offer an opportunity to learn a broad array of skills whilst seeing a variety of different types of strategic solutions. They also present you with the chance to work with different clients who all have different wants and needs. This isn’t unique to these two industries though – you can replicate the same sort of experience in just about any role where you’re presented with an array of novel and complex challenges. Just about any client-facing role will give you the chance to work on similar problems. Even internal corporate strategy roles, where you are focused on one company but likely will come across a number of projects, can offer this experience. Target a job with a high learning curve where you will be challenged.”
Is Investment Banking still giving you that high learning curve you yearned for when you signed your offer letter?!
We had a Mentee once give us the feedback below:
“Amazing examples of what the course/content could also evolve into; two things in particular I felt missing: 1) recorded video examples of live mock interviews… for me it would be really helpful to see what a successful interviewee would look like under different contexts; 2) specific guidance on what coaching hours should be used for (e.g., example “meeting agendas” for different types of calls; instructions on: “if you’re doing a mock case study; schedule 15 minutes upfront to walkthrough prompt and materials and ask any clarifying questions; Then, work through the entire case study timed at 3 hours; then schedule a 45 minute call: the first 20 will be for presenting your case materials and defending your pitch; then the next 10 minutes will be for feedback from your coach, and the last 15 for questions and walking through your model; if needed also schedule an additional 15 minutes to ask for hands on coaching on BDPs (best demonstrated practices) when modeling, deck/slide design, structure, etc.)”
Glad to say we’ve been evolving the product & platform on both ends —
Watch a Megafund OfficeHours Coach walk through a Beginner Private Equity Business Intuition Verbal Case Study: Coffee Shop