We all know how important it is to write a proper application. Resume, cover letter, references, all must be perfect. However, once you get the invitation for an interview, the actual work begins.
The interview process in the Private Equity industry typically involves several rounds. It’s not unusual that candidates are invited back more than five times. Some interviews are more technical, others test your personal skills. If you apply for junior level positions, you will be asked more technical questions. For senior level positions, communication skills and industry knowledge are more important.
Interviewers Test Personal Skills and Technical Knowledge
Let’s face it – landing a job in a private equity firm is not easy. Most candidates have a proven track record and they are among the high performers in their companies.
Employers conduct interviews to find out two things:
- Does your personality fit into the company and to the specific job?
- Do you have the technical skills needed to perform in your new job?
Regarding the first question, there is not a lot you can do to prepare. You either fit in or you don’t. Being yourself is the best approach – your interviewer will find out anyway. However, you should demonstrate confidence and the ability to communicate clearly.
It’s definitely a smart idea to research the name of your interviewer or look them up on LinkedIn. Always know who you are talking to. You may want to ask them about former projects or the city where they grew up. It’s a good way to break the ice and your interviewer will appreciate it if you give them the chance to highlight their own success.
Technical knowledge is usually tested via case studies. If you worked in investment banking or strategy consulting before, you will be familiar with that setting. Nevertheless, it’s always good to brush up on the basics again.
Don’t Get Lost In the Interview Process and Don’t Waste Your Time
The interview process in private equity companies is time consuming. If firms don’t urgently need someone, they take their time…sometimes even months. Considering that you have to take time off from your work that can be quite overwhelming.
If you are still young, getting more interview experience is actually a good thing. However, if you are in a more senior position already, try not to get lost in the interview process. If you don’t have an offer after three or four interviews, that’s usually not a good sign. Don’t be afraid to ask where you measure up in the process. You don’t want to waste your time – or theirs.
Private equity jobs are hard to get. However, it’s not impossible. Preparation, skills and even a little bit of luck is what you need to start your career in this exciting industry.
