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Why you should apply for that Private Equity Role
If you're debating interviewing, why not just go for it?!
OfficeHours Coach
September 02, 2023
At some point… I’m sure you’ve wondered what it would be like to be on the Buyside and the hype around the Buyside — is it really real?! Some will say don’t mess up an interview because a headhunter won’t show you roles moving forward if you mess up this one opportunity they give you… but what if you’re just curious how you’ll perform?
I say at this point — just go for it.
No chance we would’ve had so many placements if our Mentees didn’t just eventually go for it when it came to interviewing! Half the battle is trying…
Over the last couple of weeks we’ve had a couple phenomenal individuals on our webinar including —
Jake - former IB/Consultant who moved over to Strategy at one of the largest media conglomerates in the world out of Los Angeles (Disney)
Anthony (ex-student athlete) went to UBS IB and then moved to MM PE and now going to Columbia Business School
Alice who was with Lazard (Top Boutique as most of us know) went to TCV (UMM Top-Tier Growth Shop) and then Harvard Business School not to mention starting her own digital health business
Joe & Harry from Periscope (2nd time $200m+ oversubscribed top-tier LMM fund based out of Chicago investing into tech-enabled and hc businesses)
Whether you’re trying to go to a big shop or a small shop eventually — it’s worth having conversations with various individuals to see what’s out there. It might lead you back to IB being like hey this is a fit for me… however it might lead you into another direction as well…
Why not have those conversations to see what comes of it?
We’re currently hiring for a small LMM PE shop, Periscope Equity, and even if you’re not thinking about MM PE or anything of the sort, I advise you to look into it for the following reasons:
GREAT TEAM & Culture — like seriously a lot of firms will say this and then treat people not so great… this is something that we at OfficeHours really vet for when learning more about a firm ourselves. We have not only connected with multiple folks from Periscope but also helped place individuals there who have come back and are ecstatic about the way ppl treat each other there…
Function like a VP while you’re an Associate: this could not be more important — you are going to be an Associate but getting VP responsibility and beyond… you know what that helps you out with? Upgrading to a VP EARLY (and potentially getting compensated like a VP EARLY)
Consulting backgrounds, IB backgrounds, transaction services - Periscope is open to having conversations with various individuals because while this is a deal team role - you will really learn how to be a HOLISTIC Investor here whether it be interacting with portfolio companies, working with management teams, sourcing, executing, add-ons, preparing for LP meetings = all the perks of working at an entrepreneurial fund
You know what I would ask for at a smaller fund instead of the larger ones that won’t even engage in this part of the conversation? When does the potential for carry kick in?
Individuals that might be a good fit for Periscope Equity:
Anyone looking for more of a cultural fit and upward mobility within the world of Private Equity
Anyone coming from a management consulting, investment banking, transaction services, PE-ancillary industry, 2-and-out PE role who wants a more career-track driven role
Anyone from Chicago/open to relocating to Chicago
Another point to highlight would be I spoke with one of our candidates who was had moved to the Midwest for a role and what stood out more than anything from our conversation was when she mentioned “hey I didn’t know anyone in X City when I moved out here but honestly I like the firm and took a bet on myself and the city… and couldn’t be more grateful. I learned a lot about myself but then also pursuing the opportunity and prioritizing my career was my #1 priority which is clearly paying off with the opportunities people are sharing with me now.”
Expect many PE processes to be structured in the following manner:
Behavioral Interview, could be some technicals thrown in here verbally just FYI — generally with VP’s
Technical Q&A — know your Balance Sheet/NWC Questions
In-person Modeling Exercise — perhaps a mini-LBO within an hour however we’ve seen 2/3-statement exercises for multiple hours too depending on mandates
In-person Case Study where you go through a CIM/build a mini 3-slide deck and discuss with various Partners why or why not to invest
This PE Crash Course’s intended audience is current investment banking analysts and consultants
• We assume you have a baseline knowledge of excel and powerpoint given your day job
• We also assume you have a high level understanding of what PE is and why you want to pursue it
• The goal of this course is to help you drill down on specific interview prep in the most efficient way possible and ultimately secure a job offer
• We developed a customized set of training materials that we pair alongside 1:1 coaching with real buyside professionals to help differentiate yourself from the competition
