Private equity firms have been casting a wider net for undergraduates. Through recruiters, academic advisers, PE hiring executives, as well as public sources like LinkedIn, Business Insider gathered some of the schools outside of the Ivy League where private equity is scouting future stars.
That push into undergrad outreach and recruiting reflects a battle for talent at the associate level — and marks a pivot from the more traditional route of private equity firms hiring young people only after they do a stint in investment banking.
Big PE firms are keeping analyst hiring small, but receiving massive numbers of applications.
Some schools said they are seeing noticeable undergraduate PE recruiting for the firm time ever. Schools have also built out programs in recent years to prepare students for careers in the industry.
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Many private equity firms rarely hire straight out of college — traditionally opting to take their pick of associates after they spend a couple years at investment banks.
But as competition for talent heats up and timelines to hire associates compress, big PE firms including KKR, Blackstone and Bain Capital, are ramping up college outreach and casting a wider net.
These firms hit up many of the usual suspects — Harvard, Columbia, and other Ivy League-schools — but others including Southern Methodist University (SMU), Boston College, and University of North Carolina are getting a piece of the action.
And some colleges have been positioning for the shift by building specialized undergrad programs and making overtures to PE firms big and small.
Through insiders including recruiters, academic advisers, PE hiring executives, as well as public sources like LinkedIn, Business Insider gathered some of the schools outside of the Ivy League where private equity is scouting future stars.
We put together a look at what some colleges are doing, and a firm-by-firm glance at where the biggest PE shops have been recruiting.
To be sure, many firms are largely still refraining from recruiting undergraduate investment analysts, and outreach and programs at schools do not ensure promises of actual placement. And firms are keeping hiring classes small — even some of the bigger names hire only a handful of people — so the field is extremely competitive.
Bain Capital, for one, started college recruiting a little over a decade ago but has told us that this year is shaping up to be its busiest undergraduate season ever. The Carlyle Group, though, only recruits analysts for non-investment positions — namely, fund management and accounting.
Read more: KKR has quietly started hiring college seniors. Here’s what it says about how private equity is battling banks to fill 6-figure jobs.
‘A noticeable change’
The outreach reflects private equity firms’ push to diversify their ranks, as well as an effort to beat competitors to promising talent early on, insiders said. Firms are also taking advantage of technology like webinars to hit a wider range of schools.
“There has been a noticeable change this year …read more
Source:: Businessinsider – Finance