Networking for a Private Equity or Venture Capital Job

No matter where you are in the private equity world – just starting out, mid-level or in a senior position – networking is critical to your success. So much of the work is highly personal; it’s who you know that counts, whether it’s finding potential investors or uncovering the next investment opportunity. So it should come as no surprise that landing a job in private equity often comes down to networking.

Hopefully you started building your personal network while still in business school, one of the most fertile grounds for a lifetime of business contacts. Your classmates, and who they know in the industry, are your first source of leads even if some of them are competing to get into the same industry. If you share a source or referral with them that may not be a perfect match for you, they will remember the gesture and hopefully reciprocate in the future.

You need to begin a process of “informational interviews” with whomever you can meet in private equity to gradually expand your network and uncover private equity job opportunities.

By this point, you will have crafted an airtight resume that highlights your deal experience, unique abilities, education and other accomplishments. You may or may not present it at these information interviews, but you’ll keep it handy just in case.

Prepare and practice introducing yourself, your “elevator pitch” so to speak. Who you are, what you’re looking for, and whether or not you can speak with them for a few minutes to get their advice on the industry and their particular firm. Even busy professionals are often willing to give advice, especially since someone probably took the time to help them when they were job hunting.

First impression count. Speak confidently and clearly; offer a firm handshake. Be sure to have business cards with you at all times. Get used to striking up conversations with strangers. You may stumble upon an outstanding contact at the most unlikely places, perhaps at on an airplane or at a sports club.

The next step is to take advantage of your alumni networks, both from business school and undergraduate. It’s likely that they have alumni in private equity, and this common bond can potentially open doors for you. Many top business schools put on networking events during the year and invite well-known members of the private equity industry to speak at them as well.

Join online networking sites such as LinkedIn, Classmates.com and Facebook and see if you can find classmates in the industry and discussion groups of PE professionals. Join the groups, monitor and contribute to the online discussions.

Do a thorough online search for private equity events and seminars in your area and try to attend some. Or, you might enroll in private equity training or coaching classes. The teachers and your classmates at these events are also fertile ground for expanding your network.

You may want to identify a few recruiters who specialize in the private equity industry. While they may be more interested in placing more senior people, they may still offer you a few minutes of their time and advice. Keeping in touch with them and building a long-term relationship will pay off as your career unfolds. Recruiters often have access to private equity jobs that no one else knows about.

Next time, we’ll look at networking for venture capital jobs.

Tagged as: networking in private equity, private equity career, Private Equity Jobs