Getting a job in private equity can feel like running a marathon. You’ve got the qualifications, the relevant experience from your banking career, and yet you still struggle to reach the finish line.
In an industry as fiercely competitive as private equity, nothing holds more weight than your network. The connections you build along the way could make the difference between missing out or landing a pivotal opportunity.
The industry’s most influential people, such as David Acharya, Managing Partner at Acharya Capital Partners, often emphasize the importance of building relationships in securing a role. “The strength of your network is extremely important in finding your next job or your next path in life,” he said at our recent private equity careers event hosted by M&A Community and Ideals.
Here are five tips I took away from the event to help you get started.
1. Use your existing network strategically
The idea of networking can be overwhelming at first—but you don’t have to start from scratch. Your existing connections—whether they’re in finance, consulting or investment banking—can serve as a stepping stone to private equity.
For example, when ex-Barclays VP Carmen Chevalier-Firescu sued HSBC for allegedly denying her a job due to her previous discrimination claim, the bank revealed that its roles were not always advertised; Chevalier-Firescu had applied entirely through her network. This shows that personal connections can bypass formal application processes, streamlining access to high-level roles.
Use every opportunity to stay connected with former colleagues and mentors. Private equity is a small world, and personal introductions play a large role in hiring.
2. Get involved in live deals
Hands-on deal experience can give you an insight into what a career in private equity would really be like—and it’s a great way to expand your network. “The more live deal experience you have, the more employable you’ll be,” said Acharya.
Live deal teams tend to be small, so getting involved puts you in close contact with senior-level professionals who can influence your career.
3. Build relationships within your organization
It’s not all about networking externally; there could be hidden opportunities within your own office. Many private equity professionals have made the switch from banking through internal referrals or direct connections within their organizations. This isn’t always about work; sometimes socializing is the most effective strategy.
“Take part in office social activities,” advised Andrea Benson, Managing Director at Prospect Rock Partners, a global financial recruitment firm. “Connect with people inside and outside of work. Success isn’t only job-related; there’s also a personal component that will pay dividends as your career develops.”
4. Offer value in every interaction
To an extent, networking is a numbers game; the more connections you have, the more likely you are to find an opportunity. But it’s much more valuable to nurture a few high quality relationships than to take a scattergun approach. Don’t flood inboxes with requests; instead, be strategic and offer value in every interaction.
“Be direct, come in with an ask, and make sure you are offering something in return,” said Meridith Dennes, Managing Partner of Prospect Rock Partners.
5. Create a strong personal brand
In a sea of similar CVs, you can differentiate yourself by building a memorable personal brand that goes beyond traditional qualifications. Start by identifying your unique selling points. These could include niche expertise in a certain industry, an impressive academic record, or a distinctive skill set that aligns with a firm’s strategic focus. Clearly articulate why you’re passionate about private equity and how your approach can bring long-term value.
Sara Katz, Managing Partner at Searchlight Partners, recommends getting an outside perspective on your strengths. “I’ve worked with an executive coach who helped me highlight the things that I am good at and what I should be selling about myself,” she said. “I’ve also worked with other coaches who can help me market myself. It’s also very important to understand what your weaknesses are, because in life we should always be improving ourselves.”
