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The New Ivy League: Outshining Harvard, Scoring a Job at Blackstone is the Ultimate Challenge

Think Harvard’s acceptance rate of 3.3% is intimidating? Well, securing an entry-level job at the Blackstone Group, the leading investment management company, may just redefine your understanding of competitiveness.

Renowned billionaire and Blackstone’s CEO Stephen Schwarzman recently revealed that scoring a position within his firm has become twelve times more challenging than getting an acceptance letter from the esteemed Harvard University. Speaking at a second-quarter earnings call, he stated that a staggering 62,000 individuals applied for roles at Blackstone this year, three times more than the 19,000 applicants seen in 2020. However, the coveted acceptance emails were dispatched to just 169 applicants, putting the selection rate at an incredibly selective 0.27%.

“Truthfully, I question if I could secure a job here today,” Schwarzman confessed, a testament to the stiff competition and high standards his company commands.

But what’s the experience like for those who do manage to land one of these golden opportunities? Jon Gray, Blackstone president, shared his personal experience from when he was recruited as an entry-level analyst in 1992. Fresh out of the University of Pennsylvania, Gray was interviewed by none other than the firm’s co-founders, Schwarzman and Pete Peterson. What started as a nerve-wracking interview turned into a career trajectory that saw him rise to the position of president and chief operating officer of the world’s first $1 trillion alternative asset manager by 2018.

“For me, a kid from suburban Chicago, this was nothing short of overwhelming and utterly thrilling,” he recollected. It’s easy to imagine that many Wall Street aspirants today share Gray’s trepidation and excitement when facing the prospect of an interview at Blackstone.

So, how can ambitious applicants overcome these odds and seize one of these highly coveted entry-level roles? To give you a fighting chance, we turned to insiders, including Gray himself, the firm’s global head of human resources, and the recruiters who hire on behalf of Blackstone. Stay tuned to get exclusive insights into acing the interview and making your mark at this investment giant.