surviving tough private equity job interviews

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Surviving Tough Private Equity Job Interviews

Extended Interview Process


• 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.”

The Longer the Process Goes…


…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

The Four-Interview Rule


• 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

On the Case


• 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

Case Study


• 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.”

Interview Questions - Asking


• 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

Tough Interview Questions


• “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

“Do you have questions for me?”


• 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?”

Be Prepared for Ethical Questions


• 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

Summing Up


• 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


Thank You

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surviving tough private equity job interviews

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