Buyside companies offer packages over $ 200,000 for women and minorities
With the recruitment of juniors to banks and buy-side corporations at record levels this year, all talent comes at a premium, but headhunters on both sides of the Atlantic say talent that ticks the diversity boxes have an even greater premium than most.
“There is a huge demand for women on the buyer side,” says Anthony Keizner, partner at Odyssey Search Partners in New York. “And even more than women, there is a strong demand for people of racial diversity. Investors are happy with the returns from private equity, but they want funds to improve their statistics on diversity and inclusion. “
Keizner says Odyssey’s own research suggests that no more than 10-15% of private equity professionals are women. A study carried out last year by Preqin found that globally, the proportion of women working in the alternative asset sector was 19.7%, up from 18.8% in 2017. As Marcos Rodriguez, chief executive officer from Palladium Equity Partners, based in New York, told us last month, it’s a problem: “When you have people from the same background, with the same points of view, looking at the same data, you can have group thinking. It’s a recipe for bad decisions. “
The drive to hire diverse talent in US private equity funds is also underway. evidence in Europe. A German private equity headhunter has said the funds are increasingly saying they only want to nominate him and are ready to lower the bar for hiring women. “I have had three companies that have told me that if they hire male applicants, they will only accept applications from the bulging slice, but women can apply even if they are from a company or a store. midcap, ”he says.
As the funds focus on diversifying their ranks, the pay for hard-to-find hires increases. In the United States, Keizner said PE funds responded to increased remuneration in investment banks by browsing their offers. “In order to attract an analyst from an investment bank, buying companies offering $ 180,000 were considered to offer a good premium. Now the most common bid to buy is at least $ 200,000. “
Do you have a confidential story, tip or comment you would like to share? Contact: [email protected] in the first place. Whatsapp / Signal / Telegram also available. Be with us if you leave a comment at the bottom of this article: All of our comments are human-moderated. Sometimes these humans may be asleep or away from their desks, so it may take some time for your comment to appear. Ultimately, it will – unless it’s offensive or defamatory (in which case it won’t).