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Private equity internship hiring summary. Here are some key points about hiring private equity interns in the United States:
Here's a step-by-step private equity internship hiring guide:
First, determine the employments status of the private equity internship you need to hire. Certain private equity internship roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A private equity internship's background is also an important factor in determining whether they'll be a good fit for the position. For example, private equity interns from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
Here's a comparison of private equity internship salaries for various roles:
| Type of Private Equity Internship | Description | Hourly rate |
|---|---|---|
| Private Equity Internship | Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments. | $11-32 |
| Investment Banking Analyst | An Investment Banking Analyst reviews and analyzes data for investment banking portfolios. They work with individuals and businesses to suggest potential investments for their clients. | $16-50 |
| Summer Analyst | Summer analysts are people who undertake an internship within a banking institution. These professionals perform analyses of detailed financial and corporate information... Show more | $20-49 |
Including a salary range in your private equity internship job description is one of the best ways to attract top talent. A private equity internship can vary based on:
A good private equity internship job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a private equity internship job description:
There are various strategies that you can use to find the right private equity internship for your business:
During your first interview to recruit private equity interns, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect private equity internship candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new private equity internship. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Before you start to hire private equity interns, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire private equity interns pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
Private equity interns earn a median yearly salary is $40,242 a year in the US. However, if you're looking to find private equity interns for hire on a contract or per-project basis, hourly rates typically range between $11 and $32.