The graduating class of 2009 faces one of the toughest hiring markets in recent years. But with patience, persistence and some creativity, it’s still possible to land one of the elusive entry-level private equity jobs in the industry.
That’s the word from panelists at the 15th annual venture capital and private equity conference at Harvard Business School. They recently offered a number of tips for grads seeking a job in this tough hiring climate. Some of their suggestions, according to a Wall Street Journal article on the conference, included:
– Seek “stepping stone” positions where you can work for a few years, gain experience, then make the leap to a private equity firm. These might include working for a start-up company or a government agency that regulates the particular industry you’re interested in, such as energy.
– Consider doing something for a PE firm other than deal-making, such as investor relations or risk management. Then work your way up in the organization.
– Take a systematic approach to networking while you’re still in school. Your classmates will spread throughout the financial work in the next five years and those contacts could pay off for the rest of your working career.
– Don’t be afraid to take an unconventional path toward your private equity position. Josh Wolfe, co-founder of Lux Capital Management in New York, was quoted as saying, “Running with the herd made sense with the vast majority of the evolutionary past, but it doesn’t make a lot of sense in an investment world.”
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