This document provides advice for surviving tough private equity job interviews. It notes that the interview process can be extended, sometimes involving 3 or more interviews. It warns that if a candidate does not receive an offer after the third interview, it is unlikely they will receive one. It also explains that a long interview process does not necessarily reflect poorly on the candidate, as it could be due to a mismatch in needs or politics within the firm. The document provides tips for interview questions, case studies, and ethical questions that may come up during the private equity job interview process.

1. Surviving Tough Private Equity
Job Interviews
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2. Extended Interview Process
• Beware: if no offer after 3rd
interview, it’s possible there will be no
deal
• Issue may not be candidate
– Mismatched needs “…after a point, each
additional interview dims
– Politics and turbulence the candidate’s private
equity job prospects.”
within firm
• Small vs. large firms
– Small: more informal
– Large: more process oriented
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3. The Longer the Process Goes…
…the worse it looks for the private equity
job candidate
Whether it’s a case of a
skill set or career path
mismatch, or a complex
screening process
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4. The Four-Interview Rule
• Consistent anecdotal evidence from
other PE job searchers
– Even after extensive interviewing over long time
periods, often no offer is extended
– Results may vary
– May also depend on how urgently firm needs to
fill position
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5. On the Case
• Demonstrate • Quant ability is
balance important
– Soft skills – Difficult to express in
– Hard analytics an interview
• Most firms prefer – May level playing
field for career
trained candidates
switchers
with proven track
record
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6. Case Study
• Typical scenario: interviewee given
homework assignment
– Review financial & operational details of a
company & report back with opinion
• Tests ability to analyze
“…no private equity
firm is going to show & establish valuation
you the numbers of any
investment alternatives – Demonstrates summary &
that are winners.” effective persuasion
• It is also a trap!!
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7. Interview Questions - Asking
• Prepare: find out about the person with
whom you are interviewing
– Good online sources:
• Google
• LinkedIn
• Ask about what they are working on
– But do not try to impress by showing how
much you know
– Project confidence, desire to learn, and zero
arrogance
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8. Tough Interview Questions
• “What are your • “Why do you want
weaknesses?” to work here?”
– Consider restating – Be specific to
your response as “My the firm
biggest professional – Consider specific
mistake was…& what sectors and
I learned from geographies that
it was…” interest you
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9. “Do you have questions for me?”
• Don’t:
– ask personal questions or inquire about things you
can find/estimate via research
• Do:
– Ask about specific deals interviewer worked on &
what lessons were learned
– Ask what kind of help they need on their team
– Ask what day/week is like or “if I were to come to
work here, what advice would you offer?” (junior
level)
– Ask “what are your expectations of the person you
hire in year 1, year 2 and so on?”
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10. Be Prepared for Ethical Questions
• May be hypothetical or may be based
on previous situations firm has
encountered
• Gray areas – may not be a right or
wrong answer
• Interviewer may be more interested in
your ability to make judgments
– how those align with the firm’s policies or the
interviewer’s own ethical perspective
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11. Summing Up
• Multiple interviews
– Smaller firms & more junior
the level, the more time spent
interviewing is a good thing
– Senior level/large firms, you
may get lost in the process
• Make sure your math skills are up to par
• Don’t be afraid to ask where you stand
in the process
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12. Thank You
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