Protected Saturdays: Infrastructure PE Webinar TODAY?? ♀???
2/24/2023
Infrastructure PE Webinar TODAY?? ♀???
Sarah Quraishi?is an Investment Analyst at?Antin Infrastructure Partners, which is a leading private equity firm focused on infrastructure. With $22bn in Assets under Management, Antin targets majority stakes in the energy and environment, telecom, transport, and social infrastructure sectors. Based in Paris, London, New York, Singapore and Luxembourg, Antin employs over 165 professionals dedicated to growing, improving, and transforming infrastructure businesses while delivering long-term value to investors and portfolio companies.
In addition, she is also a former Investment Banking Analyst at?Goldman Sachs.
Sarah recently graduated from the Massachusetts Institute of Technology (MIT) where she majored in Finance and minored in Mechanical Engineering. She is passionate about making the world a better place through her work and enjoys team collaboration to design innovative solutions.
The moderator will be our very own?Rohit Malrani, Co-Founder of?OfficeHours?and formerly SourceScrub and Battery Ventures.
There will be a limited number of tickets available for this event in order to accommodate everyone's questions
Great Resource to Purchase Ahead of the Weekend
Follow Us On Social
2/19/2023
Moving From PE to a Hedge Fund
Nearly every private equity associate considers making a shift to public markets, especially when staffed on multiple live deals and while dealing with active portfolio companies. If you are thinking of making the jump, there are many factors to consider including?hours,?lifestyle,?day-to-day work,?career volatility,?and, of course,?compensation. The differences between roles can be either positives or negatives depending on work style, personality, and appetite for risk.
Factors To Consider When Moving From Private Equity To Public Markets
At a hedge fund, hours tend to be more consistent.?Typical hedge fund hours start a couple hours before the market opens and end a couple of hours before the market closes. Hedge fund analysts know when their busy seasons will be every quarter, structured around public company earnings schedule. Outside of earnings season, you meet with companies, but all of these events are planned well in advance.
In contrast, in private equity, you can either be working day and night on a live deal for weeks straight, or if you’re just staffed on portfolio company work, your hours can be very reasonable.?However, you never know when you’ll be staffed on a live deal or when a deal will go live, so you have less control over your work schedule and hours in private equity.
Like public markets, compensation at hedge funds is more volatile than in private equity. At hedge funds, annual compensation is typically determined by the performance (P&L) of the team during that year. In strong performing years where analysts contribute a lot to the P&L generation, you can get paid well that year. However, if your team is down that year, your bonus may be smaller or you may not see one at all.?In private equity, the ownership in the fund is based on carry and that can take 5-10 years to realize the bonus payouts from.
Pay is more volatile at hedge funds but you can start earning more money earlier if you are a standout analyst on a strong team. I would note that compensation works differently across hedge funds and can vary at single-managers, multi-managers, and start-ups.
CONVICTION LEVEL & IDEA/INVESTMENT VELOCITY
Since hedge funds operate in public markets with only public information, the conviction level of your positions will be lower than in private equity. Hedge funds do not typically invest in the same level of resources that private equity firms do to diligence potential investments. At a hedge fund, you will not have access to consultants, accounts, lawyers, bankers, advisors, full management teams, etc. to help you turn over every stone.?Hedge fund analysts must learn to be creative with the data and resources they have to build interesting and differentiated pitches.
Conviction level and creativity are some of the biggest hurdles of making the transition from private equity to public markets.?New analysts need to get comfortable with being wrong.?This is why the “What is a time that you failed” question is very important for interviews. Some of the best hedge fund analysts are right only 55% of the time, which means you will be wrong almost half the time.?Since you will have lower conviction and will be wrong a lot, the velocity, or how quickly you must come up with new ideas, has to be quicker at hedge funds than private equity. To come up with new ideas more frequently takes more creativity.
Depending on the style of hedge fund or public markets you go to, exit opportunities out of the public markets can be more limited than from private equity firms. Public markets investing is a more niche set of skills.?Once analysts are at hedge funds, they tend to exit to other funds, long-onlys, or other public markets roles. Analysts can also on occasion exit back to private equity or investment banking.
Private equity professionals typically have a broader range of skills by not only analyzing potential investments, but also sitting on company boards, helping run the companies, working with management teams on strategy, and many other corporate development tasks.?Private equity associates are commonly asked to work directly with the CFOs and other managers of the company to help with analysis.?They sometimes even take over the role of CFO or other financial and strategy positions if there is a need! Through their work with portfolio companies and management teams, private equity professionals make professional relationships that can lead to job opportunities at companies.
Are you interested in learning more about OfficeHours and how a Banking/Buyside Coach can help you?
2/14/2023
Chris will discuss his non-traditional journey into Private Equity, the skills that helped him succeed, and ultimately start his own consulting and education business.
Chris Reilly?has over 15 years of experience in Corporate Finance, Consulting, Private Equity, & Entrepreneurship. He founded?Mission Capital?which specializes in M&A and FP&A Consulting, as well as Financial Modeling Education which offers advanced FP&A and Private Equity modeling courses taught in a straightforward and relatable style.
Chris began his career as a consultant for?FTI Consulting, transitioned to corporate finance/treasury for Hilton Worldwide, then spent several years in?mid-market private equity?before starting his own business in 2020. He has a bachelor’s degree in Accountancy from the Villanova School of Business.
As featured in Business Insider in March of 2022, Chris shared how he made the switch to entrepreneurship when the pandemic hit.?Since then, his work has been featured at Wall Street Prep, FTI Consulting, Course Method and LinkedIn.
The moderator will be our very own Rohit Malrani, Co-Founder of OfficeHours and formerly SourceScrub and Battery Ventures.
We will be covering topics such as:
We are excited to host this webinar via Zoom. Open to everyone, but highly recommended for anyone looking to break into finance.
There will be a limited number of tickets available for this event in order to accommodate everyone's questions.
You can listen to other OfficeHours Webinars/Podcasts directly here:?https://anchor.fm/rohit-malrani
Learn more about OfficeHours here:?https://getofficehours.com.
Benefits of Attending this Webinar:
Take 50% off our PE Platform Course making it only $149.50 Expires at 11:59PM ET TONIGHT!
Useful Resources:
Are you interested in learning more about OfficeHours and how a Banking/Buyside Coach can help you?
2/8/2023
NETWORK your way into the Buyside??
Happy Wednesday folks, glad to see how many inbounds we’ve been getting from various folks evaluating their careers and thinking through?PE Recruiting… if this is something that you’re thinking about, we highly recommend you reaching out and connecting with one of our?Top Coaches. The reason that we’ve been ramping up on a lot of recruiting news,?content,?videos, etc. right now is?because of all the active Buyside interviewing happening right now.?We literally hear from our Mentees about offers almost every.single.day.
IT STILL ISN’T LATE TO REQUEST A?MOCK INTERVIEW?before your SUPER DAY — especially for case studies which is the toughest part of these interviews!
?It’s never been a better time to think about leaving your investment bank!
Headhunter chats, modeling and case study practice, deal walkthroughs – there are tons of resources out there to help prepare for the?Buyside recruiting interview?process. However, a less talked about and extremely underrated tool in this process is networking with your target firms directly. This can help you break into interview processes and secure offers even if you don’t have a very wide network in finance – all you need is a willingness to get creative and put in some extra effort.
Recent Other Blog Pieces:
USEFUL RESOURCES:
Are you interested in learning more about OfficeHours and how a Banking/Buyside Coach can help you?
1/31/2023
January is done as we know it??
Why Private Equity Makes $ During Recessions (written by a GS/Megafund OfficeHours?Coach)
Many tend to ask whether PE firms will slow down during a recession, will they stop hiring? Let’s dive into the underlying reasons around why recessions are good for the Buyside generally…
Private equity?firms make money in a recession by buying companies that are?deeply undervalued and turning them around for a profit once the status quo normalizes.?During a recession, many companies struggle to stay afloat and may be forced to sell assets, segments, or even the entire business at a discounted price. Further, pressure given the current economic environment (combined with a higher cost of debt) leads to companies also facing maturity risk with any long-term debt coming due.?With blood in the water, private equity firms that are well-capitalized and have access to long-standing lender relationships can take advantage of opportunities to purchase companies at a lower cost basis and significantly enhance their investors’ returns.
PRIVATE EQUITY AND RECESSIONS
Generally speaking, once a?private equity firm?has acquired a company, they will typically implement a number of changes in order to improve the company’s operating and financial performance.?This may include cutting costs, streamlining operations, or divesting non-core assets.?The goal is to increase the company’s revenue and profits, making it more attractive to potential buyers when the economy improves.
One of the ways?private equity firms?can increase a company’s value is through leveraged buyouts (LBOs). This is a transaction in which a?private equity firm?borrows a large amount of money to purchase a company, using the company’s own assets as collateral. The?private equity firm?then uses the cash flow generated by the company to pay down the debt. This can be a highly profitable strategy if the private equity firm is able to improve the company’s financial performance and increase its value before selling it.
But during a recession, the LBO is further compounded via distressed investing.?Distressed investing involves investing in companies that are in financial trouble, such as those in bankruptcy or on the brink of bankruptcy.?Private equity firms?can purchase these companies at a steep discount and then implement changes to improve their financial performance and make them more attractive to potential buyers. While it is tricky to perform an operational turnaround when facing recessionary headwinds, well-capitalized?private equity firms?can purchase companies and “ride out the storm” until things normalize and then prepare the target firm for a disposition.
Some?private equity firms?also focus on specific sectors or industries that are less affected by a recession. For example, healthcare companies are often considered to be more resilient during an economic downturn, and private equity firms that specialize in these sectors may have better chances to generate returns. Learn more through the link below
ALL SAID AND DONE, by the general definition — it makes sense why PE firms are hiring very actively right now and will continue to hire actively… we’ve been hearing about how some prep platforms out there are actually INCREASING prices going into a recession. We are not increasing prices, in fact — we’re decreasing.?We understand inflation is real?and how expensive small purchases such as?eggs?have become… for that reason itself and because we’re so confident in our coaching capabilities/have many coaches looking to help out Mentees — we’re offering this one at cost —?https://getofficehours.com/pricing_page: CODE: JANSTARTER will take off $700+ TODAY ONLY for our Buyside Starter Kit!
?Want to learn more about our Private Equity Curriculum? Click below to learn more
?
1/26/2023
We were featured in Business Insider! ??
The private equity industry is racing to fill 2024 associate roles ??
Private equity's aggressive recruiting tactics appear to be backfiring?— forcing some big name firms back to the spigot to fill their 2024 associate classes, an anomaly for this time of year, according to insiders.
In an effort to win the war for talent that was raging last year, private equity firms pushed their recruiting efforts earlier than in ever—?to late summer. In the past years, recruiting started in fall or even winter. But many candidates had only been on their new investment banking analyst jobs for all of one week when the recruiters came knocking, and therefore some weren't ready to figure out what kind of job they wanted in two years' time.?
"We had been on the desk for literally one week," said a first-year analyst who participated in recruiting in late August and early September. "People just weren't prepped because, I mean, you're supposed to learn the stuff on the job. People didn't have experiences to talk about."
领英推荐
Now, some of the biggest name funds are still pushing to fill empty slots in their 2024 associate class with another round of recruiting — an anomaly at this time of year, recruiters and other industry sources said. Insiders say the amount of outreach suggests some firms may be paying the price for swooping in too early in 2022. It's a mistake the industry won't likely repeat anytime soon, they say.
"This is overflow from September," said?Asif Rahman, co-founder of finance career coaching company?OfficeHours.?"Usually this never happens. We're in January, all these big funds are doing Super Days. Usually they're done already," he said, referring to intensive rounds of interviews that can last an entire day.?
To be sure, not all private equity firms kicked off on-cycle recruiting in August. Some opted to give newbie analysts more time, according to Insiders. Firms involved in early interviews last year, according to?Insider's previous reporting?and people involved in the process, include:?KRR, Apollo, Bain Capital, Thoma Bravo, Apax Partners, Hellman & Friedman, New Mountain Capital, Silver Point Capital, TPG, Blackstone, and the Carlyle Group.?
Of those, firms that recently had or still have open seats, according to recruiting emails obtained by Insider and people involved in the process, are:?Carlyle Group, Bain Capital, Hellman & Friedman, and Apax Partners. Other firms that have been involved in recent recruiting include Brookfield Capital Partners, Francisco Partners, GTCR, and Thomas H. Lee Partners (THL), according to emails and people involved in the process.??
The firms listed either declined to comment or did not respond to Insider's correspondence, except for THL, which said:?
"We believe we have a responsibility to identify and mentor the next generation of investment professionals," a THL spokesperson told Insider.?"Our Associates bring a diversity of backgrounds and perspectives that helps prepare us for the firm's next decade – and the decade after that. It's why we take recruiting so seriously and devote a great deal of care to finding people who share our values."
The relationship between newbie investment bankers and private equity giants is one of the few symbiotic relationships in the finance world. Private equity firms target junior bankers to fill their associate ranks nearly?two years?in advance — knowing that by then they will be adequately trained for the job and ready for a more tolerable workload and bigger?paycheck.
There's an entire process dedicated to this pipeline known as "on-cycle" recruitment.?It usually involves an intense week-long period (although sometimes shorter or longer) where private equity firms rush in to snag the top talent. The competition is so fierce that firms have been known to place candidates in a room that they can't leave without their offers blowing up (because giving them time to think about it opens the door to rival offers). It's often a frenzy for the juniors, who can end up?staying past midnight to do interviews?and secretly sneaking out of the office to meet with potential future employers.?
The usual chaos has been exacerbated this year because on-cycle recruiting for the 2024 associate class began earlier than ever, kicking off in late August, as?Insider previously reported. And now industry insiders say they are seeing more open spots at big name firms than is usual for this time of year, and therefore more recruiting efforts by headhunters on their behalf.
"It was kind of so unproductive this year that there's been a second bite added,"?said Anthony Keizner, a managing partner at recruiting firm Odyssey Search Partners.
To be clear, recruiting has always continued on in the weeks and months after on-cycle — but usually through a scattered, more random effort referred to as "off-cycle."?And off-cycle recruiting typically involved mid- to smaller-sized firms since the big names tended to nab up top talent during on-cycle, according to Rahman.?
For megafunds, associate spots are typically long gone by now, he added.?
Keizner likens the phenomenon to a hybrid species — a new combination of on-cycle and off-cycle recruiting.
"It's not a big unified push like the classic on-cycle, but there are definitely efforts PE firms are making to recruit first-year bankers now to fill those remaining spots,"?said Keizner. "And that's different this year than it's been before."
The second wave is sure to prove just as stressful and chaotic for the junior analysts who participate —?many of whom put their necks on the line for a shot at breaking free of the "sell-side" to work for the more prestigious "buy-side."?
Most banks, especially big bulge brackets, aren't supportive of the recruiting and see it as a culling of their own future stars. For the analysts who want to participate, it can mean missing work for coffee chats and interviews, which can be sticky. If you get caught at certain banks, said Rahman, you might get severely reprimanded or even shown the door.
"Analysts can get kind of crafty about it,"?he said. Some get their junior coworkers to cover for them, but sometimes other tactics are necessary. "Another thing you see is a lot of people start to have doctor's appointments or dentist appointments."
It's also a costly endeavor for the firms, especially if they're having to draw out recruiting efforts to fill spaces they expected to fill earlier.
"It's a big effort, it's a big logistical thing,"?Keizner said about the recruitment and interview process for the firms. "If you only hire a couple of people who are just out of college and aren't that good, it's a waste of time."
According to Rahman, the all-nighter interviews include the firm's vice presidents, directors, managing directors, and even partners.?
"You need the buy-in of the entire firm,"?he said. "Hiring the next generation of talent is super critical to succession planning and the ongoing success of the firm. So everyone kind of cancels what they're doing and they focus on recruiting — it's a really big deal in private equity."
Rahman, Keizner, and the analyst (who asked not to be identified for fear of reprisal) agreed that this year could serve as a lesson for private equity firms, and result in a change to their recruiting tactics in the future.?
"I think a lot of them aren't going to be seeing quality talent when it's somebody's first week on the desk,"?the analyst said. "I think there's generally going to be a push back."
"Come September 2023, when they're talking about the associate class of 2025,?I think it'll be hard to get the senior people to commit to interview these bankers because they have less deal experience, and even more so in what's sure to be a slow year ahead," said Keizner. "There may be more pressure to wait a little longer again before starting."
Recruiting into Venture? ??
AVP is Hiring! ??
Click on the link below to listen to?Alex Christ, a Partner at?Advance Venture Partners! Asif, an Advance alum, hosted this one!?Click the link below to learn about Alex's path to becoming a partner in VC... From his first role in?Morgan Stanley's investment banking division in the technology group, to growth equity at?ICONIQ Capital, to working his way to Partner at AVP, where the team deploys ~$100 Million per year into late stage venture and growth stage companies like?Headspace?—?Alex discussed breaking into VC, how to recruit from a non-traditional background, and why he chose to?pursue VC over other investing roles like PE.
AVP is also recruiting a?VC Associate! Apply to?this role?if you have top investment banking / consulting / investing experience and are looking to make a move!
Prior to joining AVP in July 2015, Alex was an early member of the growth equity investing team at?ICONIQ Capital, where he focused on investments in enterprise software, financial technology, and consumer e?commerce verticals.
Alex began his career at Morgan Stanley in the firm’s Global Technology Group in Menlo Park, where he executed mergers and acquisitions, equity and debt offerings, and private placements. Alex received his BBA with a double major in Accounting and Finance from the University of Iowa. The moderator was our very own Asif Rahman, Co-Founder of OfficeHours and former PE/VC and IB.
Watch the video to see us cover topics such as:
-What is the day-to-day of a VC partner vs. an associate?
-What motivated you to pursue the VC career path?
-How did you make the transition from associate to partner?
-What's your advice for anyone looking to break into Venture Capital?
You can listen to other OfficeHours Webinars/Podcasts directly here:?https://lnkd.in/eUDSkgBF
Learn more about our Venture Capital Curriculum and some of the Coaches that help out with mock interviews?here!
Where are you currently interviewing?
1/17/2023
Are Headhunters reaching out to you??? | Protected Saturdays
90% of Analysts Will Never Break into Private Equity??
Are you ready for this year’s wave?
?
2023 has come and I feel like it’s been hitting harder than expected — we had (or rather have) the?GS layoffs continuously happening, various other firms as well experiencing lay offs — PE rather ramping up recruiting efforts… we’ve been ramping up some Mentees that come in HUNGRY AND ready to WORK (read our The?“My PE Interview is in 48-Hours” Prep Guide”)?but then also hearing the same old excuses from a few Mentees around “not sure if this is the right time” “I’m not sure what I really want to be doing” “I have work” “my bonus won’t be great but I still have to work” lol?(read?“Why Pursue a Career in Private Equity”) and
?
“So, let’s assume that for whatever reason, your idea of the “perfect” job doesn’t seem like it will be happening right now. As you’re exploring alternatives, what should you try to prioritize in your search?
?
A broad scope:?The reason why?investment banking?and consulting roles seem to open so many doors is not because they are the absolute best way of dedicating a few years of your life. Rather, it’s because they offer an opportunity to learn a broad array of skills whilst seeing a variety of different types of strategic solutions. They also present you with the chance to work with different clients who all have different wants and needs. This isn’t unique to these two industries though – you can replicate the same sort of experience in just about any role where you’re presented with an array of novel and complex challenges. Just about any client-facing role will give you the chance to work on similar problems. Even internal corporate strategy roles, where you are focused on one company but likely will come across a number of projects, can offer this experience.?Target a job with a high learning curve where you will be challenged.”
Is Investment Banking still giving you that high learning curve you yearned for when you signed your offer letter?!
We had a Mentee once give us the feedback below:
“Amazing examples of what the course/content could also evolve into; two things in particular I felt missing: 1) recorded video examples of live mock interviews… for me it would be really helpful to see what a successful interviewee would look like under different contexts; 2) specific guidance on what coaching hours should be used for (e.g., example “meeting agendas” for different types of calls; instructions on: “if you’re doing a mock case study; schedule 15 minutes upfront to walkthrough prompt and materials and ask any clarifying questions; Then, work through the entire case study timed at 3 hours; then schedule a 45 minute call: the first 20 will be for presenting your case materials and defending your pitch; then the next 10 minutes will be for feedback from your coach, and the last 15 for questions and walking through your model; if needed also schedule an additional 15 minutes to ask for hands on coaching on BDPs (best demonstrated practices) when modeling, deck/slide design, structure, etc.)”
Glad to say we’ve been evolving the product & platform on both ends —
Watch a Megafund OfficeHours Coach walk through a Beginner Private Equity Business Intuition Verbal Case Study: Coffee Shop
01/06/2023
Welcome 2023 ??
Happy New Year All! 2023 is here. Sorry for being a bit MIA the last couple weeks... I just got in slightly delayed from a cousins trip out to Dubai, celebrating turning 31 today (article to come on my take-aways from that next week, look for it on my?LinkedIn?on Monday). We got a really interesting piece from one of our Mentees/Coaches about low morale which you'll see right below our single-day special I wanted to highlight below —
KEEP YOUR NY RESOLUTION, START YOUR PRIVATE EQUITY PREPARATION WITH MATERIALS <$300
"There are moments where we believe that either it isn’t worth it or that we can’t do it. I’ve had many of those moments, normally at 2AM after staring at some cocktail mix of rejections, difficulties, and the shadows of someone else.
Sometimes these moments are signs that we need to make a change: getting rejected from your dream job could be because you didn’t perform; messing up at work could be because you didn’t put in the thought or the time; watching someone else succeed (whether in your current career path or an alternative) could be because they’re playing?by a different playbook or because you aren’t being true to the career and lifestyle you really want."
Rally Support
"It was 8PM on day 2 of on-cycle. I had faced rejections from four firms already and was crying to a friend “I can’t handle this anymore, I’ll just do off-cycle or try again next year… do I even really want to do PE, anyway?”
It was on day 3 that I interviewed with the firm that would end up giving me an offer, a firm that I’m very happy with, but I wouldn’t have gotten to that day or performed well on that day without my friends (note, multiple of them) to help me.
One friend reminded me of all the days I excitedly told him about my prep and the firms I wanted to go to. He saw my desperation but also saw through it, helping me see what temporary pain was clouding.??
Another friend didn’t remind me of anything, he just let me cry after each rejection and gave me the outlet that I needed to get back on my feet before the next interview.??
A third friend (and coach) didn’t care how I felt; he knew it was game time and he made that clear to me. “I know this is hard, but you’ve been preparing for 4 months. You slipped. So what? If you sound in your interviews the way you sound now, then it’s no wonder you didn’t get the offers. Don’t let the first failure mess up all your other chances. Raise your chin, smile, and perform.”?
I needed all three perspectives, but more importantly, I needed it to come from someone else who could see more clearly than I could in that moment.
Embrace and Learn from the Suck?
I could cry all I wanted and ask for as many people to help as I wanted, but nothing would change the fact that I was on probation. My friend, too.??
We didn’t think it was fair and we protested, but probation is probation, and we can only change that through how others perceive our performance, which we can’t even control.??
If we continued to pout, probation would become something worse, but if we put on our “game face” without acknowledging why we were on probation to begin with, we’d also just deepen our own holes.??
So, with our defenses down and our egos on the line, we read through our reviews again and asked the people who rated us for their advice. It hurt to hear the candid feedback about why we were reviewed how we were and the fundamental shifts they were asking us to make.??
One of us went through the process and realized that these weren’t changes they wanted to make and would prefer to find somewhere that they would be valued for their current traits. The other one also went through the process but instead realized that these were changes they’d have to make to succeed anywhere and were grateful to have the opportunity to pivot now.?
Breathe and Process?
Sometimes, you don’t have time to rally support. Sometimes, you’re too panicked to even ask for help… “what if they think I’m weird, or stupid, or a cry baby?” Sometimes, you want to embrace the suck but all you see is more suck and that, well, sucks.??
This is going to sound zen, so bear with me, but sometimes the way out of low morale isn’t to try and get out at all; it’s to accept what you’re experiencing, experience it, and then understand what makes it suck for you.??
I say “what makes it suck for?you” because it is your own internal state that will decide how a situation feels. Situations themselves can’t hurt you. I heard a story of a friend who broke up with someone and was crying to someone about it, to which that person said, “Congrats!” “Congrats, what do you mean, I’m crying!” “Yeah, but didn’t you break up because that person wasn’t good for you? Congrats on being free! I have gone through breakups too and have been delighted each time.” He was focusing on finding his future partner, my friend was focused on the pain of losing this potential partner. Two people, similar situations, radically different mindsets and responses.?
On a more professional note, here’s an example of needing to just breathe and not do anything about the low morale, just work through it. Someone told me about a project they were on where they felt like the worst performer on the team. They didn’t enjoy the work they were doing, and definitely didn’t enjoy thinking they were worse at it than those around them. They spoke to their manager about it and was told “I hear you, but you can’t control if you’re worse or better, you can just do your best. And you’re not going to do your best feeling like that. Take a deep breath and just focus on doing the work, worry about the anxiety after.”?
Similarly, after pivoting to PE I spoke to my OfficeHours coach about the imposter syndrome I was feeling at work and how paralyzed and down I felt most days because of it. Like my friend’s manager, I was told “The anxiety you’re feeling makes sense. This is a highly competitive environment and you do come from a different background. Learn from that. But the anxiety itself isn’t serving you, if anything, it’s making your ability to perform in this highly competitive environment worse. Breathe. Soothe the anxiety. Let the low pass. And then see why the low was there and do something about it.”"
Last Email of the Year??
+What EFC says about 2023's Job Outlook??
12/31/2022
Key Take-Aways from the?efinancialcareers article
"For junior investment bankers, the coming year could be doubly raw. Not just investment banking jobs, but?private equity jobs?are likely to disappear. PE is never easy to get into. As the private equity industry undergoes its own rationalization, in 2023 it could be harder than ever.?If you're a junior banker, the exit options are narrowing.
That's the bleak prognosis. There will, however, be opportunities for those who position themselves well. There will be hiring in thriving niches. Those niches are likely to include...
Boutiques??
Boutiques will seek to take advantage of the discomfort of big banks, predicts Mundell. "The better placed boutiques, as ever, will continue to hire opportunistically as they seek to increase market share in an environment ripe for it," he says. Moelis & Co. has already said it's?"leaning in"?to hiring."
^^this article is a bit nuts, as we approach a new year —?it definitely wasn't the most optimistic thing to read.?I think 2023 is going to be an interesting one to say the least - we've been doing this now for almost 3 years in a bull market and it seems like we're about to see a change.?If anything, we should get busier since the actual interviews are about to get tougher...
Scroll down for a few new content pieces but I'll leave you with this — we've had a couple new Coaches come on recently that want to help out Mentees in the new year and for that we're offering up a?HUGE discount for an hour long coaching call?(can be used for behavioral, technicals, modeling, mocking your story, etc.) + PE Platform Access... now more than ever,?we want our Mentees to be PREPARED and READY for anything that comes their way when it comes to the recruiting/hiring/lateral market.
Code:?'PLATFORMONLY'?(takes $700 off the $999 Buyside Starter kit making it only $299 for 1-hour of Coaching and PE Platform Access)^^this article is a bit nuts, as we approach a new year —?it definitely wasn't the most optimistic thing to read.?I think 2023 is going to be an interesting one to say the least - we've been doing this now for almost 3 years in a bull market and it seems like we're about to see a change.?If anything, we should get busier since the actual interviews are about to get tougher...
Scroll down for a few new content pieces but I'll leave you with this — we've had a couple new Coaches come on recently that want to help out Mentees in the new year and for that we're offering up a?HUGE discount for an hour long coaching call?(can be used for behavioral, technicals, modeling, mocking your story, etc.) + PE Platform Access... now more than ever,?we want our Mentees to be PREPARED and READY for anything that comes their way when it comes to the recruiting/hiring/lateral market.
Code:?'PLATFORMONLY'?(takes $700 off the $999 Buyside Starter kit making it only $299 for 1-hour of Coaching and PE Platform Access)
Talk about a Great Deal to get started w/Coaching! Make 2023 your year!
The OfficeHours Guide to Private Equity Part 4:?Megafund vs. Middle Market Private Equity
Private equity is not a one-size-fits-all industry. While all PE firms are in the business of acquiring companies and generating superior returns for their LP’s, the culture and day-to-day can vary widely across different funds.?It is important to be thoughtful about whether or not to pursue private equity and understand what you are signing up for across the range of PE firms.?Nevertheless, the learning opportunities are outstanding and sets you up for a long and successful career no matter what you decide to do in the long run.
So how do you deal with low morale??
"I and no one can tell you exactly how you should handle them without having spoken with you and understanding your exact situation and where your head’s at, but hopefully the tactics below and the stories that come with them can be of some help."
1. Rally Support
2. Embrace and Learn from the Suck?
3. Breathe and Process?
"Similarly, after pivoting to PE I spoke to my OfficeHours coach about the imposter syndrome I was feeling at work and how paralyzed and down I felt most days because of it. Like my friend’s manager, I was told “The anxiety you’re feeling makes sense. This is a highly competitive environment and you do come from a different background. Learn from that. But the anxiety itself isn’t serving you, if anything, it’s making your ability to perform in this highly competitive environment worse. Breathe. Soothe the anxiety. Let the low pass.?And then see why the low was there and do something about it.”"
5k+Followers | Sustainable Packaging Solutions | Empowering UAE Businesses to elevate their Brand | Die Cut Corrugated Box | Custom Printing | 2C / 4C / 8C | Paper Bag | Shopping Bag
1 年Great ?? Regards Raja - Relationship Officer EI Credit Cards | Skywards | Etihad | Cashback Dubai - UAE | Mob: 0503163721