NETWORKING GUIDE
Private equity recruiting is notoriously selective and relationship-driven. Most PE roles are filled through a tight network of referrals from investment banking analysts and internal connections.
Industry
Private Equity
Culture
Chicago-based, sector-focused
Recruits From
target schools
Madison Dearborn receives thousands of applications every recruiting cycle. The students who land interviews almost always have internal advocates who vouch for their candidacy. At a firm known for being Chicago-based, sector-focused, collaborative, building genuine relationships with current employees is one of the most effective ways to stand out from the applicant pool and demonstrate that you understand the firm's values.
Networking also gives you information that is not available anywhere else. Through conversations with Madison Dearborn employees, you will learn about specific team dynamics, unwritten cultural norms, what interviewers actually look for, and which divisions are actively hiring. This intelligence is invaluable for tailoring your application and performing well in interviews. Students who network effectively often cite their conversations as the single biggest factor in their success.
Madison Dearborn has several major divisions: Healthcare, Financial Services, Technology. Your target contacts should align with the division you are most interested in. Junior employees (1 to 3 years of experience) are your best bet for initial outreach because they recently went through the recruiting process, remember what it was like, and are generally more responsive to cold emails from students.
Prioritize contacts who share something in common with you. Alumni from your university are the strongest targets, followed by people who studied your major, worked in a similar field before joining Madison Dearborn, or are involved in organizations you belong to. These shared connections give you a natural reason to reach out and significantly increase your response rate.
Key divisions at Madison Dearborn:
The best cold emails to Madison Dearborn employees are short (under 150 words), personalized to the specific recipient, and include a clear, low-commitment ask. Do not ask for a referral in your first email. Instead, ask for a 15-minute conversation to learn about their experience. If the conversation goes well, referrals often happen naturally.
Here is a proven template you can adapt:
Sample Email Template
Subject: [Your University] student, question about Madison Dearborn's [Division]
___
Hi [First Name],
I'm a [year] at [University] studying [major]. I came across your profile and was interested to see that you work in Madison Dearborn's [Division] group. [One specific, personalized sentence referencing their background.]
I'm exploring private equity roles and am particularly drawn to Madison Dearborn because [one genuine reason]. I'd really value hearing your perspective on the team and the recruiting process.
Would you have 15 minutes for a quick call?
Best,
[Your Name]
[University] '[Grad Year] | [Major]
Once someone at Madison Dearborn agrees to a coffee chat, preparation is critical. You want to make the most of their time and leave a strong impression. Here are five things to do before every conversation:
Find Madison Dearborn employees
Search for Madison Dearborn professionals who share a connection with you. Look for alumni from your university, people in your target division, or employees who transitioned from similar backgrounds.
Craft personalized outreach
Write a concise, personalized email that references the recipient's specific role, background, or division at Madison Dearborn. Mention why you are reaching out to them specifically.
Prepare for your coffee chat
Research the person's career path and prepare thoughtful questions about their experience at Madison Dearborn. Focus on their division, the recruiting process, and what they wish they had known as a student.
Track and follow up
Send a thank-you note within 24 hours. Follow up periodically with updates on your recruiting progress. Keep track of every conversation in your networking pipeline so nothing falls through the cracks.
The best approach is to search for Madison Dearborn employees who share a connection with you, such as alumni from your university, people who studied your major, or professionals in your target division. Offerloop lets you search across 2.2 billion verified contacts with queries like "Madison Dearborn analysts who went to [your school]." LinkedIn is another option, but it does not provide verified email addresses.
Keep your email under 150 words. Open with who you are and why you are emailing this specific person (shared school, shared background, interest in their division). Ask for a 15-minute coffee chat. Do not ask for a referral in the first email. Reference something specific about their role or career path to show you have done your research.
Start networking 3 to 6 months before recruiting season begins. For Private Equity roles, this typically means reaching out in late spring or early summer for fall recruiting cycles. Send emails Tuesday through Thursday between 8 AM and 10 AM in the recipient's time zone for the best response rates.
Start with junior employees (analysts and associates with 1 to 3 years of experience). They recently went through the same recruiting process, have the most relevant advice, and are more likely to respond to cold outreach. Once you build relationships with junior employees, they can sometimes introduce you to more senior professionals internally.
Aim to connect with 8 to 15 people at Madison Dearborn over the course of a recruiting cycle. This gives you enough conversations to understand the firm's culture, get diverse perspectives on the recruiting process, and build genuine relationships that could lead to referrals. Quality of conversations matters more than quantity of outreach.
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