3 Private Equity Superdays Without Offers. What Am I Doing Wrong?

I have had 3 superdays for private equity firms so far, all without offers. 

  • PE firm #1 - my fault: I stumbled on the paper LBO
  • PE firm #2 - they gave the feedback that based on my biomedical engineering background, they weren't sure if I was going to stick around in PE, or use them as a stepping stone - they felt I did not explain rationale well enough
  • PE firm #3 - no feedback

I have another private equity superday coming up this Friday, and I don't know what to do. In my past superdays, they have been mainly (or entirely) behavioral questions. They know we are competent at this point because we have passed the modeling test. Honestly, it feels like a personality test, and I don't know how to prepare for that. The private equity firm I'm interviewing for also has less diversity than a country club, and we don't have any shared colleges or companies. 


Does anyone have any advice? 

 

I just formatted it to be easy to read lol. It does look at bit ChatGPT like. Seriously though, what am I doing wrong? 

On one hand, it feels like these superdays are just "vibe checks" to see which candidate they get along with the best. Which candidate they'd like to work 14 hours a day with. So maybe I'm just not very likable... 

On the other hand, there's plenty of unlikable personalities in private equity, so I honestly don't know what gives. 

 

Based on the most helpful WSO content, it sounds like you've identified some areas for improvement and are seeking advice on how to better prepare for your upcoming private equity superday. Here are some tailored suggestions to help you tackle the challenges you've faced:

  1. Addressing the Paper LBO Issue:

    • Practice makes perfect. Revisit the paper LBO and practice it until you're comfortable with the process. There are plenty of resources and mock exercises available on WSO that can help you refine your skills.
  2. Conveying Commitment to PE:

    • Craft a compelling narrative that connects your biomedical engineering background to your passion for private equity. Emphasize the transferable skills and unique perspectives you bring to the table.
    • Be prepared to discuss long-term career goals and how they align with the private equity industry. Show that you've thought about your career trajectory and how a role at the firm fits into that plan.
  3. No Feedback from PE Firm #3:

    • While no feedback can be frustrating, use this as an opportunity to self-reflect on your interview performance. Consider any areas where you might improve, such as body language, communication skills, or your ability to connect with the interviewers.
  4. Preparing for Behavioral Questions:

    • Behavioral questions are indeed a test of personality and fit. Review common behavioral interview questions and practice your responses. The WSO Behavioral Interview Guide can provide you with frameworks for crafting your answers.
    • Use the STAR method (Situation, Task, Action, Result) to structure your responses in a way that clearly demonstrates your competencies and how they've led to successful outcomes in the past.
  5. Dealing with Lack of Diversity:

    • While you may not share a common background with the interviewers, focus on what you do bring to the table. Highlight your unique experiences and how they can add value to the firm.
    • Research the firm's culture, values, and recent deals to find common ground or talking points that show your genuine interest and alignment with their work.
  6. Networking:

    • If possible, try to network with someone at the firm before your superday. Even if there's no shared college or company, reaching out to alumni from your school or professionals in your network can provide insights and potentially warm introductions.

Remember, each superday is a fresh opportunity to showcase your skills and fit for the firm. Be confident, be yourself, and let your preparation shine through. Good luck on your upcoming superday!

Sources: Ask an ex-IB MD anything........., Superday Related Advice, PE SUPERDAY, Superday Advice From a Tired Interviewer, Two Superdays Next Week--Advice On How To Answer Two Possible Questions

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

I like to think super days boil down to preparation and confidence / attitude.

For preparation, besides knowing your past deals and technicals, take some time and think about what the firm is looking for (investment style, culture, etc) and how you fit.  Then prepare 1 or 2 stories that highlight either some skill or an experience that shaped you to be a good match with the firm.  Since a lot of the non-technical questions ultimately drive at "are you a fit?", it's likely you can shoe horn those stories to answer multiple behavioral questions.

Hopefully the exercise above also inspires you to believe you truly are a strong fit.  Exude that confidence when you walk into your superday.  Be eager to tell your stories / answer technical questions because you know you are a great fit for the role.

Finally I think it's helpful to remind yourself to have gratitude about the opportunity.  Not many people make it this far in their career -- even less to the superday at a PE fund.  Yes some luck but also a lot of hard work was necessary to get you where you are.  Be proud of yourself, keep an open mind and enjoy the opportunity to meet some new people.

Best of luck man! You'll do great    

 

Thank you, really appreciate it! 

Since I'm a consultant, I'll memorize things like how we sized TAM, market growth, model methodology, along with basic stuff like EBITDA and EBITDA margins of the business. I'll also do a bit of prep around paper LBOs (in case they do one) and common questions like how $10 of depreciation flows through 3-statements. 

For the non-technical questions (which have been the vast majority of my previous superdays), can you clarify what you mean by preparing 1 or 2 stories? In my experience, the questions have been more "tell me about a deal" or "did you agree with the investment decision?" or "what is an interesting area within X sector?" rather than "tell me about a time you were in a challenging situation." I suppose it wouldn't hurt to prep a story to answer questions like that. 

Anyway, just want to see if you think this is a reasonable approach, and if there's anything else I should be aware of

 

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