What do you do if you're a woman facing obstacles in your Private Equity career?
Private equity (PE) is a competitive and demanding field that offers lucrative rewards for those who can excel in deal-making, portfolio management, and value creation. However, it is also a male-dominated industry that poses many challenges and barriers for women who aspire to build a successful career in PE. In this article, we will explore some of the common obstacles that women face in PE, and how you can overcome them or use them to your advantage.
-
Liesl Bebb-McKay 🌟Business Development & Innovation Professional | Inclusion & Empowerment | Startup Mentor
-
Sheila MurphyPresident, CEO, and General Counsel @ Focus Forward Consulting LLC | Legal Coaching and Consulting
-
Karen Lee DownesSocial Entrepreneur | Leadership Development | Facilitating Systemic and Cultural change | Catalysing Transformation
One of the most important factors for advancing in PE is having mentors and sponsors who can guide you, support you, and advocate for you. Mentors are senior professionals who can offer you advice, feedback, and insights on how to navigate the industry and develop your skills. Sponsors are influential leaders who can endorse you for opportunities, promote your achievements, and protect you from potential pitfalls. You should seek out both mentors and sponsors who share your values, respect your potential, and have your best interests at heart. You can find them within your firm, in your network, or in industry associations and events.
-
Liesl Bebb-McKay 🌟
Business Development & Innovation Professional | Inclusion & Empowerment | Startup Mentor
Successful women have many things in common, many of them well known such as having a great sponsor and mentor - but there are two other super important accelerating factors: 1. Having a tribe of incredible professional women supporting them and 2. Having a partner that is a real partner. Another vital factor is they live their authenticity - they know their strengths and build on those by creating teams to augment areas where they prefer to delegate. They know how to rock their individual superpowers and to run the race entirely on their own terms rather than following the traditional
-
Sheila Murphy
President, CEO, and General Counsel @ Focus Forward Consulting LLC | Legal Coaching and Consulting
I have many clients who are women who succeed in PE environments. The key is to build a robust network, including mentors and sponsors who can support you. While you can ask for someone to mentor you, a sponsorship must be earned. You want to identify people who can move your career forward and earn their sponsorship. Earning a sponsorship means going beyond the normal and demonstrating that you are someone that they should invest their political capital in.
-
Sophie Jackson
Publisher & Head of Strategic Content @ TT Group | Writer | Women in Treasury - Within - Global Diversity List Top Ten Women's Networks | Ask A CFO Podcast | UN Women U.K. Delegate CSW68
Find different networks within your industry that you can join and learn from others about their experiences. Are the challenges you’re facing unique to you or are there commonalities with other peoples experiences in the industry. Look for senior mentor figures from outside of your organisation who can help you to unpack the challenges you’re facing and advise you on whether it’s time to look for a new role. Especially people whose personal stories resonate with you and inspire you. What can they illuminate for you that can help you on your path? Build allies within your own organisation if you want to stay. Your internal & external networks will both be critical as you look for advice that will serve you both in this role and beyond.
-
Michael Oppong
MSc. ICM-UK. BSc. | Design Thinking | Creative Writer & Teacher | Youth Leader | Co-founder & Vice President, MES Impact Foundation | Advocate, STEAM Education | Leader, Liberation Hub | CEO, Michael’s IDYLLIC WRITING
Aside the mentors and sponsors, connecting with other women in the industry through professional networks offers valuable support and insights as far as mentoring, and skill-building tailored to the experiences of women in private equity is concerned. Again, women can take the initiative of proactively seeking out projects, assignments, and leadership roles that align with their career goals. They can do so by communicating their interests and career aspirations to managers and mentors, and be prepared to demonstrate their capabilities and value to the company. Moreover, women must stay resilient and persistent in the face of challenges and setbacks. They have to stay focused, learn from experiences, and not to be discouraged by obstacles
-
Mansi Dadhich Mahur
Breaking the Mold (Step 1): Acknowledging the Gap: If as a girl child your stories weren't filled with tales of boardrooms and balance sheets. Don't worry, that's step one! Recognizing this lack is the first step towards conquering the world of private equity. * Building the Foundation: Before diving headfirst, invest in your financial literacy. What is equity, you ask? Consider it the magic potion that fuels growth and success in companies. Learn its secrets - the factors that make businesses soar and the potential pitfalls that can lead to stumbles.Seek help ,find mentors and coach who can guide you on end to end big picture.
Another key factor for succeeding in PE is building your personal brand, which is how you present yourself, communicate your value, and differentiate yourself from others. Your personal brand should reflect your strengths, passions, and goals, as well as your professional reputation and credibility. You should craft a clear and compelling narrative that showcases your accomplishments, skills, and impact, and use it to pitch yourself to potential clients, investors, and employers. You should also leverage your online presence, such as LinkedIn, to showcase your expertise, network, and thought leadership.
-
Mansi Dadhich Mahur
Empower Yourself be a Brand(Step 2): Brand of Financial Detective: No gaps escapes your eyes.Public companies are like open books. Grab your magnifying glass and delve into their annual reports. Analyse the success stories of the past three years. What were their winning strategies? Conversely, scrutinise the companies struggling to stay afloat. Can you identify the cracks in their armour? This is just the beginning: These are your first steps on a path paved with knowledge and empowerment building your unique Brand. As you delve deeper, you'll unlock the secrets of deal structuring, valuation, and navigating the exciting (and sometimes intimidating) world of private equity.
A common challenge that women face in PE is negotiating for themselves, whether it is for salary, bonus, promotion, or recognition. Women often face a double bind when negotiating, as they are expected to be assertive and confident, but also cooperative and likable. This can lead to women undervaluing themselves, avoiding conflict, or settling for less than they deserve. To overcome this challenge, you should research the market value of your role, prepare a strong case for your worth, and practice your negotiation skills. You should also frame your negotiation as a win-win situation, where you are not only asking for what you want, but also demonstrating how you can add value to the firm and the industry.
-
Mansi Dadhich Mahur
Lead by Example Gone are the days when women were like pawns on the chessboard of life, simply taking the moves assigned to them. Today, they are queens – powerful, strategic, and ready to claim our rightful squares. But sometimes, even queens need a little reminder to stand tall. Hence Confidence, is their Crown: We've all heard the stories whispered in hushed tones: women settling for less, fearing to negotiate, undervaluing their brilliance. The narrative needs to be rewritten. Confidence isn't arrogance; it's knowing your worth and refusing to dim your light.
One of the benefits of being a woman in PE is that you can bring a different perspective to the table, which can enhance your creativity, problem-solving, and decision-making. However, you may also face stereotypes, biases, or resistance from some of your peers, clients, or stakeholders, who may question your competence, authority, or fit. To overcome this challenge, you should seek diverse perspectives from other women, minorities, or allies in PE, who can offer you support, advice, and inspiration. You should also challenge yourself to learn from different sources, such as books, podcasts, or courses, that can broaden your knowledge and skills.
One of the biggest challenges that women face in PE is balancing their priorities, as they often have to juggle multiple roles and responsibilities, such as work, family, health, and personal growth. PE is a demanding and fast-paced field that requires long hours, frequent travel, and high performance. This can take a toll on your physical, mental, and emotional well-being, as well as your relationships and happiness. To overcome this challenge, you should prioritize your health and happiness, and set boundaries for your work and personal life. You should also delegate, outsource, or automate tasks that are not essential, and focus on the ones that are most meaningful and impactful.
The final factor for thriving in PE as a woman is embracing your uniqueness, which is what makes you stand out from the crowd, and what makes you valuable and irreplaceable. You should not try to fit in or conform to the norms and expectations of the industry, but rather celebrate and leverage your differences, such as your gender, background, personality, or style. You should also pursue your passions and interests, and explore your potential and purpose. By embracing your uniqueness, you can create your own path and niche in PE, and inspire others to do the same.
-
Karen Lee Downes
Social Entrepreneur | Leadership Development | Facilitating Systemic and Cultural change | Catalysing Transformation
Begin with developing a deep level of self awareness of your own self imposed limitations based on what stories you have been told in pursuing your career, what stereotypes you recognise in the organisation that are restricting progress or barriers to your personal success. Shifting your perspective about yourself and self limiting beliefs is the first place to start.
Rate this article
More relevant reading
-
EconomicsWhat do you do if your organization lacks diversity and inclusion in Economics?
-
MentoringHow can women get promoted in male-dominated fields?
-
Private EquityYou're a Private Equity firm looking to build a diverse and inclusive team. How do you start?
-
Career Development CoachingWhat are some effective ways to help women advance in their careers?