A career in private equity requires you to always keep yourself updated. It’s not just about the capital market, mergers & acquisitions, equity, and stocks, there’s so much more to learn.
Through continuous learning is a key to growth in all fields, the vicissitude in private equity firms demands you to keep learning and stay grounded — especially if you’re eyeing for a partner’s position.
Growth in private equity career is steep, but it requires focused learning approach instead of haphazard. So how do you grow as a private equity professional? Here are some insights gathered from leading private professionals in the industry.
1.Decide your deal making nature
All deal makers are different. Some thrive in a cut-throat competition, while some thrive in a relaxed environment. While a few are good at making deals with small-size companies, others are better at dealing with mid-size and large-sized companies. Some like working within their integrity, honesty, and respect at all times, while a few may not. So it is important that you figure where you fit best, else you will put your career at risk.
2.Keep learning and broaden your skillset
To be a master private equity professional or in other words if you’re eyeing for a partner’s role at a private equity firm, you need to have a broadest of skills. As an associate, you already master working with spreadsheets and building financial model, but there’s much more to learn – relationship-building to build trust among team members, management skills to manage your own team in the future, fundraising skills to keep your war chest filled.
Taking a certification in private equity is a good approach to learn the required skills.Best private equity certifications have curriculum to prepare for every situation.
3. Be assertive in your decisions
Most senior associates believe that VPs, Partners, and Senior Partners only have the power to make a decision. However, this is not true at all. Decision-makers decide based on facts. So develop your industry knowledge and build a deep understanding of private equity. Show your passion for work. Seeing associates firm and assertive in their decisions, partners are inclined to consider deals and say yes.
4. Show passion in management team
Financial modeling, derive financial projections, and catching red flags – all is good as an associate. However, to show your capabilities you need to get on the field. Do your research, find out about the industry you are dealing with, speak to prospective companies’ management team and do more. The harder you do this; the more passion you will show. As soon as partner notice, you are well on your way to promotion.
5. Be a team player
You don’t have to get your hands on every deal. Also, maintaining composure in the heat of a deal-making will take you a long way. Try and keep your ambition and self-interest during a deal-makings. This will bring you in a bad light. Instead, you should take time out to train a fresh associate, or devote time to work outside your role and responsibilities.