Is A 'Deal Workbook' A Good Idea?
Hi all,
I recently had someone suggest that I build a 'deal workbook' to aide in applying for entry level PE roles. By 'deal workbook', they just meant a collection of models/case studies/write ups/etc. that showcase what you can do. Steven Spielberg says his advice to young, wannabe filmmakers is to make a film to showcase what they can do. I suppose the idea here is the same in that the intention is to create a calling card of sorts.
What I want to know is whether this is actually a good idea? My feeling at this stage is that the answer probably depends on the quality of the work. In other words, it will help if its really good but will hurt my chances if its bad. I don't currently work in the industry so I am conscious that what might seem well put together to me may be complete crock to someone in the industry.
Does anyone have any advice in this regard?
While this sounds cool and different, I'd say probably waste of time. As I see it:
The only exception, I've very occasionally seen candidates bring either written or verbal perspectives on my portfolio companies based that help showcase their preparation and ways of thinking (e.g., list of M&A ideas). This is purely bonus points and generally unnecessary but differentiated if they're actually conversant in my space.
Thanks for the response, I appreciate the perspective. Have you seen any other slightly out of the box tactics that helped candidates differentiate themselves in interviews?
Honestly, the bar is low ha. If a candidate has done decent research on my firm (e.g., mentions a recently announced deal or piece of news like an executive change), that alone shows preparation and thoughtfulness. Usually between day-to-day work in IB and basic interview/modeling prep, candidates don't have time to do much differentiated homework.
Haha good to know, thanks!
The only other thing I would add is that if you're going to a sector-specific fund and you actually care about that sector, do some very light research to develop a view on a trend in the industry. You'll typically have an opportunity to showcase this in some way anyway ("why our firm," "why this industry," "any trends you've been following?") You can do this a number of ways:
I have some a "deal sheet" before when lateralling, which was a ~7-10 page document that had a deeper dive on my deal experience. 1 page per platform, a page on large add on, some pages on exits. Basically an elongated resume you can pass out if they want more detail. Allows you to keep resume to 1 page but also have the detail.
Note i only used this when asked for it. Didn't really lead with it.
This might be super cheeky, but any chance you'd mind sharing it? - Would be really interesting to see what you recorded and spoke about with regard to each deal. TIA?
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