Baruch College students received some timely advice from two of the college’s more famous and successful grads recently. During the school’s Executives on Campus Program, 1962 Baruch College graduates Harvey Mallement and Harvey Wertheim, certified public accountants who teamed up to co-found Harvest Partners in 1981, offered their suggestions on how to get into the private equity industry and the job prospects within the field, according to The Ticker, Baruch College’s online blog.
The perfect starting point for getting a private equity job is an analyst training program position at an investment bank. Of course, with the current meltdown, there are fewer opportunities to get into one of these programs. However, both grads and working bankers can acquire advanced analytical skills from independent training firms such as The Investment Banking Institute (IBI). (By the way, on behalf of its members, JobSearchDigest.com has negotiated a special discount for IBI training.)
Wertheim, who holds an MBA from CCNY, urged students to pursue an MBA, but not until they had three to five years of business experience under their belt. He also said students can migrate into private equity after a stint with a major consulting firm.
His partner Harvey Mallement urged students to keep up their reading in the industry, tapping sources such as The Daily Deal, Buyout or Private Equity Analyst publications.
As for what their own private equity firm looks for in a candidate, Mallement noted candidates must have great academic credentials, including a high GPA, near-perfect computer skills and solid accounting expertise. During the private equity job interview process, Mallement’s firm also puts candidates through an actual case study to see who solves the problem best.
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