Archive for February, 2012

Private equity straight after earning an MBA – dream or reality?

Posted February 17, 2012, under MBA Interviews, Zoom MBA
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Some MBA applicants expect that a top MBA program can facilitate a leap to a job in PE immediately upon graduation from business school. Their disappointment is great when they discover that this is far from the truth.
While any student in a top MBA program knows how difficult it is to land a job in PE, the 2011 Private Equity & VC Compensation Report provides statistics to illustrate this fact: only 9 percent of PE employees are recruited directly from business schools. However, most of these lucky students have pre-MBA experience in top investment banking, consulting firms or relevant industries.
Not only should not you rely on your MBA as a jump start to a private equity career, but the chances that a school will connect you with a PE firm are small. Only 11 percent of PE employees were recruited based on their school relationships in the PE industry , according to the report.


One explanation for this trend is that PE firms usually do not have training programs. Investment banks and consulting firms often serve as platforms for training PE recruits.

The report also shows that the compensation gap between those who have MBA and those who do not decreased in 2011. In fact, less than 50 percent of respondents to the survey had MBA. Overall, those with MBA reported earning 10 percent more. However, those with more than 5 years of work experience (not just investment experience) earned almost the same salaries as those with MBA.

If a firm is doing well, the size of one’s bonus will often more than make up the difference not having an MBA makes. The lesson here is to be sure to fully understand the firm’s bonus program and payouts before signing on.

And if you were one of those lucky candidates who got into private equity after business school, it is a bit early to be ecstatic. Only 20% of associates in PE indicated that they are happy with their compensation. This is good to know before being upset by the fact that only 68 percent of PE firms were hiring in 2011.

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Staying Current in Your Field until You Return to Work

Posted February 7, 2012, under Zoom Job
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When you return to work return to work , you must be current in general job skills as well as in your particular area of work. Be proactive in retaining and attaining new skills that will help you in your future job search and job interviews
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Volunteering

Volunteering is one of the best ways to stay current in a number of areas. You utilize soft job skills when you volunteer on a regular basis like goal setting and communication. You also learn new skills, such as using the latest software program.

Volunteer in an organization that works in a field close to your area of expertise. You will stay connected to people who are currently working in the field, and you will have a good understanding of what is going on in it. You could also offer your expertise to a non-profit that might otherwise not be able to afford your type of services. For example, if you are a computer whiz, help a non-profit set up its new computers, or build it a new website. Another option is to volunteer in a professional association affiliated with your line of work. You might even get a free or discounted membership for doing so.

Entrepreneurship

Try your hand at starting a new business. Doing some part-time consulting or contract work demonstrates initiative and the desire to succeed. Your business might take off. Even if it does not, it shows employers that you were not idle and that you tried to think beyond hourly work. Even if you don’t want to start your own business, you might start a blog about your line of work to share your knowledge with others or do some temporary work until you can find a job.

Interviewing

While you will not be interviewing to get a job, having interviewing skills is vital when you are ready to return to the work force. At that time, conduct some mock interviews with a job counselor, a friend or an online service that will help you hone your answers and improve your confidence.

Read

Set time aside each week to read blogs related to your field. It is one thing to subscribe to all the best blogs, but it shows determination to read through them. Blogs about job skills courses and the job search in general are also important to read. Professional journals, books, newspapers  and other publications will also keep you in the loop of what is happening.

Attend

In addition to reading, attend professional and industry-related conferences and webinars. Some webinars are free, so take advantage of them. Your local public library or job center may also offer free or low-fee job interview questions in computer technology, interviewing or other job-related skills. Also conduct an online video mock interview before you have your first job interview to get valuable feedback on your interviewing skills.

Staying current in your field is necessary to having a successful job search. Mock interview practice can help you learn the latest strategies for job interviewing, such as how to answer behavioral interview questions or interview via online video conferencing. Additionally, staying up to date in your field through conference attendance and reading will make you a valuable employee despite your employment history gap.

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