How to break in buy-side?
I am international student in Canada and I hope to begin career in private equity. I just want to acquire local experience before graduation. #finance #pe #private-equity
3 answers
Justin’s Answer
In my experience in private equity for the past 17 years, I have seen a few routes for undergraduate students to get into this field.
Keep in mind thto private equity firms tend to be small financial instituprivate. Even the largest firms only have a few hundred investment professionals. As a result, most people (including me) in PE got their start somewhere else.
Certainly, an internship in private equity anywhere in the world is a great start. That should make you stand out to the PE firms who hire undergraduates out of university. However, that is a very small number. Many PE firms prefer to hire candidates with 2-3 years of practical experience in a related field. This principally means work as a financial analyst at an investment bank. Consider that the largest global banks hire hundreds of undergrads each year, so there are vastly more jobs available than in PE. Analysts spend time working on the financial workings of companies, which dovetails perfectly with PE work. Similarly, PE firms often hire analysts from strategic consulting firms. The work here is often detailed research into how a client company operates. Again, this overlaps nicely with PE.
Nancy’s Answer
Shashi’s Answer
I applaud your clear vision regarding your career objectives. However, I must mention that entry-level positions, particularly those recruited directly from campuses, are quite scarce in buy-side firms. Even more rare are undergraduate internships. Although these were almost non-existent a few years back, they're slowly gaining traction. Notable private equity firms like Blackstone and Riverside are known to actively recruit Analysts straight out of undergraduate programs. There are also several boutique private equity firms that scout for talent on university campuses. Your optimal strategy would be to identify suitable firms and actively network with their Analysts and Associates. An unpaid internship could serve as a valuable stepping stone to get your foot in the door. Wishing you all the best in your future endeavors.
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