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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

finance private-equity pe
Thank you comment icon Thank you, I have received PE internship in my mother land. And I have applied a VC unpaid internship in Canada. Ena
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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.
Thank you comment icon Thanks for your detailed answer. I know PE firms are willing to hire employees with 2-3 years work experience from investment banks. If I have foreign PE internship experience, wether it will help me enter PE circle in North America.I will begin an internship at megafund PE (TMT group) this sophomore summer in mainland China. Ena
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Nancy’s Answer

Ena, if you cannot get a paid internship at an investment firm that deals in private equity before graduation, volunteer at one. Sometimes finance professors can recommend you to companies looking for summer interns. College career centers will also have such positions posted for students to see online. Visit your faculty advisor or career center for help. This is assuming you are in college. If you are in high school you could volunteer at a local privately owned business in the finance department to get a foot in the door. That would show your interest in how non-publicly traded companies operate. Also, investment banks may have such internships.
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Shashi’s Answer

Hello Ena,

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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