The private equity hiring season is officially underway, but some young bankers are turning away from working in private equity.
This is due to a number of factors, including the long hours, the high-pressure environment, and the lack of work-life balance.
In a recent survey of young bankers, 40% said that they were not interested in working in private equity.
The most common reasons for this were the long hours (70%), the high-pressure environment (60%), and the lack of work-life balance (50%).
The long hours in private equity are well-documented. Bankers in private equity often work 100-hour weeks, and they are often on call 24/7.
This can be very difficult to sustain, especially for young people who are just starting their careers.
The high-pressure environment in private equity is also a major turnoff for some young bankers. In private equity, there is a lot of pressure to perform, and there is a constant fear of being fired. This can be very stressful, and it can make it difficult to enjoy your work.
Finally, the lack of work-life balance in private equity is a major concern for many young bankers. In private equity, it is very difficult to have a healthy work-life balance.
Bankers often have to work weekends and evenings, and they often have to travel for work. This can make it difficult to have a family or to have other interests outside of work.
Despite the challenges, there are still many young bankers who are interested in working in private equity.
The high salaries and the potential for financial rewards are very attractive to many young people. However, the number of young bankers who are turning away from private equity is growing, and it is likely that this trend will continue.
What does this mean for the future of private equity?
The trend of young bankers turning away from private equity is a concern for the industry.
Private equity firms need to attract and retain top talent in order to be successful. If the industry does not address the concerns of young bankers, it could face a talent shortage in the future.
There are a few things that private equity firms can do to address the concerns of young bankers.
First, they can reduce the number of hours that their bankers work. Second, they can create a more supportive work environment. Third, they can offer more flexible work arrangements.
If private equity firms can address the concerns of young bankers, they will be able to attract and retain top talent. This will ensure the future success of the industry.
