Super Non-Target Recruiting Long-Term

Breaking into private equity from a super non-target school is challenging but absolutely doable with the right strategy. Here's a roadmap based on the most helpful WSO content:

1. Build Your Technical Skills

• Free Resources: Leverage the WSO Free Financial Modeling Series, which includes lessons on financial statement modeling, DCF, M&A, LBO, and Excel modeling. It also comes with 27 financial modeling templates.
• Self-Teaching: Use platforms like YouTube for tutorials on LBO modeling and corporate finance concepts. Channels like Breaking Into Wall Street or Mergers & Inquisitions are great starting points.
• Practice: Time yourself building quick LBO models (aim for under 45 minutes). Practice explaining technical concepts to non-finance individuals to ensure clarity.

2. Networking Without Alumni in PE

• Expand Your Network: Start with your immediate circle—professors, parents of classmates, or even your baseball coach. You never know who might have a connection.
• Cold Outreach: Use LinkedIn to identify professionals in private equity or Big 4 firms. Personalize your messages by referencing their background or recent deals.
• Leverage Webinars: Attend webinars hosted by firms or alumni from other schools. These events are great for making initial connections.
• Ask for Informational Interviews: When reaching out, don’t ask for a job. Instead, ask for advice or insights into their career path.

3. Gain Relevant Experience

• Big 4 or Small PE Firm: Both are excellent options. Big 4 will give you a strong foundation in accounting and transaction advisory, while a small PE firm will provide direct exposure to deal-making.
• Leverage Your Investment Club: Highlight your leadership and initiative in founding the club. Use it as a platform to analyze deals, create mock investment memos, or even invite guest speakers from the industry.

4. Stay Informed

• Daily Reads: Skim through resources like PE Hub Wire, Pitchbook News, The Broadsheet, and Wall Street Journal. These will keep you updated on industry trends and deals.
• CapitalIQ: If your school has a subscription, learn how to use it for company research and financial analysis.

5. Long-Term Strategy

• MBA Consideration: If breaking into PE directly proves difficult, consider gaining experience in investment banking or Big 4, then pursuing an MBA at a target school to pivot into PE.
• Persistence: Networking is a numbers game. The more people you reach out to, the higher your chances of finding someone willing to help.

Pro Tip

• Be Creative: Even unconventional connections can lead to opportunities. As one WSO thread humorously noted, even a janitor might have ex-Lehman contacts!

By combining technical preparation, strategic networking, and persistence, you can position yourself for success in private equity. Keep grinding, and don’t hesitate to reach out for more specific advice!

Sources: Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, Networking 101 – 8 tips from a “non-target” school student, I’m a student. What’re the best ways for me to learn about your fund?, How Do I Get Into Private Equity?, Networking for FT recruiting during SA internship?