The door that lets you inside the world of private equity is immensely hard to find. One word that defines this field most appropriately is ‘cut-throat competition.’
Private equity is not just a field that produces employment as it is also quite famous for destroying careers. So basically, PE is a sphere for winners and if you are not one, you can be probably asked to let yourself out of it in no time.
There are a number of top-notch jobs inside the private equity domain, however, there is one designation named as the ‘associate’ that was not very familiar to the private equity sector a while ago, but, is now in the limelight.
Entry level jobs like these were not present earlier, nevertheless, now it is fairly common for you to see associates burning the midnight oil at private equity firms as they are given the responsibility of completing model as well as overseeing return analyses in fancy offices located in cities like Boston, Chicago, Manhattan, and San Francisco.
Though, it is tough to believe that a newcomer can be working in a high-end private equity firm that deals with billions and billions of dollar, but, it is true.
However, it is no cakewalk to get into PE, especially if a person has little or no prior experience of dealing with such high-intensity work. It is definitely a tough nut to crack and one needs to acquire a plethora of impressive qualities to nail a job interview in this fast-pacing field.
So, if you are planning to join Private Equity, you might as well go through the below given list of traits that a person should have to survive in this sector.
1. Choose to do the hard stuff
In the initial stage of your career, you should never think of going for an easy way out. It is not possible to hop on to the road to success without doing hard work. Employers are inclined towards people who are always ready to take up challenging work and finish it with utmost efficiency. Especially, if you are a part of private equity which is the most fiercely competitive industry that is known to us today, you cannot earn fame and respect without slogging your way up in the corporate hierarchy.
2. Focus on the portfolio companies
They say that it is more beneficial to play nice with the management in C-suite of the portfolio companies than being pally with your co-workers from the private equity firm. It is because you get to learn a lot about the business through the staff of the portfolio firm that helps you enhance the speed of your career growth.
3. Be nice to all
The work in PE is such that you have to be the bad guy in most cases. So, the obvious part of being a private equity professional is that everyone in the business will expect you to act like an obnoxious, self-involved person. However, it would really work in your favor to act respectful, grateful and humble.