how to get an internship at blackstone

Have a confidential story, tip, or comment you’d like to share? If you could do any job in the private equity industry, which would it be? Before joining Blackstone in 2007, he worked as a Managing Director in the Financial Sponsors Group at Deutsche Bank. “You should get some exposure to investment banking through an internship. We hear what their objectives are and figure out what will satisfy their needs. For the second year running, Blackstone was the top-ranked private equity firm in the eFinancialCareers 2017 Ideal Employer rankings, which received over 17,000 votes globally. 19 April 2017. Some PE funds are putting more emphasis on growing talent in-house. What are the main routes into Blackstone as a junior? Blackstone may be a giant PE fund with over $550bn in assets under management, but it doesn't recruit graduates in numbers that are anywhere near comparable to investment banks. eFinancialCareers is a DHI service Vik Sawhney is a senior managing director and the COO of the private equity business at the Blackstone Group. This ‘journey’ usually involves stint in investment banking. I just walked out of a meeting with a prospect who is interested in our funds, so I spent an hour educating them about what we’re doing here.

This makes Blackstone's graduate program far harder to get into than Goldman Sachs, which accepts around 4% of applicants. by BofA VP's Manhattan housing conundrum, Ranking coding languages by pay in banking. Full-Time Program Summer Internship Program Blackstone wants to be the employer of choice for the best young talent. What this means in practice, Panahi suggests, is some sleepless nights. 2018 eFinancialCareers Ideal Employer Rankings, The top private equity funds, and how much they pay, U.S. finance professionals rank their dream employers, The 10 places global finance professionals most want to work. Blackstone Group has two ways of vetting potential hires. Blackstone’s summer analyst program provides students from universities across the world with valuable exposure to a career in finance. We’re rolling out a writing workshop and training for our mid-level investment professionals, so I spent time finalizing that curriculum and the messaging. What are the best and worst answers you’ve had to it? View the complete 2017 Ideal Employer Rankings, Get the latest career advice and insight from eFinancialCareers straight to your inbox, Please click the verification link in your email to activate your newsletter subscription. Blackstone Group has two ways of vetting potential hires. Don’t take it personally and know that failure is part of your journey to success.”. View the complete 2018 eFinancialCareers Ideal Employer Rankings, Get the latest career advice and insight from eFinancialCareers straight to your inbox, Please click the verification link in your email to activate your newsletter subscription. Being able to do due-diligence, knowing what questions to ask, figuring out the best ways to look at downside risk, what’s the right way to interview the customer or key supplier of a company – a lot of it is learning by doing. Does it still help to have a relative in banking? What’s the most interesting thing about your role? Sarah Butcher ), Get the latest career advice and insight from eFinancialCareers straight to your inbox, Please click the verification link in your email to activate your newsletter subscription. The second is decidedly more nebulous. Our internship program gives Summer Analysts and Associates an unprecedented opportunity to play an integral role in all aspects of deals, transactions and other projects. If you make it through that you can expect to come in for a day of multiple follow-up interviews with people across the firm. 16 May 2018. Please try again. You can work on things for months but they can end up not bearing fruit.

The second is decidedly more nebulous. That’s basically what I do to relax. Equity Research Asssociate - European Insurance Companies - Tier One Bank, Investment Manager, European Infrastructure Fund - UK Green Energy/ Wind team, Associate, UK Corporate Finance, Blue Chip advisory firm - ACA wanted. In the PE business, a third, a third, a third, but it ebbs and flows, depending on the year. What does being a COO in private equity entail? You have to hire some people from the outside, but since the beginning of the firm, at least in our group, it’s always been about growing talent in-house. Have a confidential story, tip, or comment you’d like to share? “The key difference to banking is that in between deals, you are more in control of your own schedule and can be more autonomous,” he says. Blackstone declined to comment directly on its program, but it's understood that the firm receives 25,000 applications in total for these 100 roles, although only 15,000 of those are 'unique' applications, with the remaining 10,000 coming from people who applied for multiple positions. eFinancialCareers is a DHI service To get a better idea of what it's like to work at Blackstone, we spoke to Vik Sawhney, a senior managing director and the COO of the private equity business at the Blackstone Group. From direct involvement in deals and other projects, to a mentorship program and speaker series that provide each intern with exposure to senior leaders, we offer an experience that’s unique among financial firms. eFinancialCareers 2017 Ideal Employer rankings, The top private equity funds, and how much they pay, The 10 places global finance professionals most want to work. Get an internship with Blackstone. For its London private equity operation, however, Brexit presents a more immediate problem – people. 37% of employees at Oaktree Capital in London are from outside the UK, for example. “All the large firms have different philosophies and cultures, so it helps to get to know what you’re getting into.

He says that: “you have a real sense of responsibility for the capital that investors entrust your firm with.”, “So when things go wrong, you realize that this is different from an advisory job, but that real capital is on the line and that it is up to you to protect it,” he says. Now that private equity fund (PE) Blackstone is focused on hiring its own graduates directly instead of poaching juniors from investment banks, it might seem tempting simply to apply to the firm from the outset instead of starting out on an analyst program and skipping into the private equity fund in year two. BofA VP's Manhattan housing conundrum, Ranking coding languages by pay in banking.

BofA VP's Manhattan housing conundrum, Ranking coding languages by pay in banking. I exercise a lot, and I hang out with my wife and three kids.

In PE, if you execute one investment a year, that’s a lot. “We try to ensure there is a strong social aspect in parallel with our day job.”.

Eventually it will – unless it’s offensive or libelous (in which case it won’t.). For this reason, it's probably unwise to adopt a strategy of 'Blackstone or nothing' as you'll probably be left with nothing - unless you're an exceptional applicant. People who switch from banking are shocked by the higher level of thoroughness and lower velocity of PE, and frankly, it’s not for everyone. Is this happening at Blackstone? It paid out $1.1bn in compensation last year, which works out as an average of $492.3k. Panahi says that you get a lot of exposure to “leaders in the corporate, financial and sometimes the political world” from the get-go. They are nothing if not consistent. The first is rigorous – expect 10-15 interviews with 15-20 people before the thumbs up is finally given. Blackstone has around 2,200 employees across its various divisions globally. There was an error with your request. “They’re very focused, analytical and there’s cross-over in the skills we need, so it makes sense to hire from banks. By comparison, Goldman Sachs paid out an average of $338.5k in 2016. Junior bankers pleasantly surprised by summer bonus round, Morning Coffee: Giant Deutsche Bank alumni party. Eventually it will – unless it’s offensive or libelous (in which case it won’t. Contact: in the first instance. Another one is “Tell me something that you’re bad at,” but don’t say “I work too hard,” “I don’t delegate enough,” or “I’m too detail-oriented.” Don’t couch an attribute as a weakness. Opportunities The Employer of Choice Training Blackstone is committed to offering learning and development opportunities to help advance our employees’ careers across a number of areas: investment, leadership and management, communication and technology, among others. Our employees are integral to the firm’s culture of integrity, professionalism and excellence. All rights reserved. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Saleh Panahi, an associate in the private equity group at Blackstone in London who joined from Lazard in 2012, suggests that the hours are “better than investment banking”, but that nights and weekends are required when a deal heats up. All rights reserved. These, along with the prospect of challenging or interesting work, were the firm’s biggest perceived strengths. We hire people straight out of college, people who’ve worked at an investment bank for two years, graduate schools and MBA programs. I like my job. Discover location, duration, compensation, stats, and more. There’s much greater depth in PE, and it requires more patience. by eFinancialCareers is a DHI service For the second consecutive year, Blackstone ranked as the top private equity firm to work for in our annual Ideal Employer Survey. E.g. If you could hire anyone tomorrow, what kind of skills would they have? Like most banks, Blackstone runs a summer intern program and makes successful interns full time offers, so ideally you want to get an internship during your second year at university. There’s no right answer – it’s about honesty and self-awareness. The only good news is that it's easier to get into Blackstone than Google, which only accepts around 0.2% of people who apply. This, however, presumes that you can get actually onto Blackstone's program, which is just as competitive as you'd expect. Dan Butcher Most people voting for Blackstone (85%) expected a competitive salary and 81% anticipated a big bonus. Usually they have a "summer program" or "analyst program" that is tailored to undergrads. Within private equity, however, compensation was flat at $280.2m. Whatsapp/Signal/Telegram also available. A lot of young bankers want to move into PE.

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