The shift toward online education is evident in the development of many online universities and training providers.
Today, a professional interested in entering private equity can complete a training program completely online.
This was not available just a few years ago so some of you may be wondering what is an online private equity training program? An online training program is--as you may have guessed--completed entirely online with web-based resources, training and exams.
This is a huge benefit to those who cannot commute to a university or where a company is offering training, especially those living outside the United States where many training programs are.
Additionally, online PE training programs allow professionals who are working during the day a chance to complete a training program that would otherwise be impossible without quitting their jobs.
One downside is that you do not get the in-person experience that a classroom with a teacher provides but the often lower cost associated with online courses allows many participants to overlook this problem.
Now, in a typical online private equity training program, participants will get a chance to evaluate each program through the publicly available websites.
Once he or she selects the program, the participant will receive online materials and resources and be assigned a reading list of PE books and articles that should be read to understand the industry and common terms.
Some PE training programs even provide tutorial and training videos so that participants can receive the person-to-person experience even online.
After using these resources and going through the required reading materials a participant will spend time preparing for the exam (if offered) and then schedule a time to take the test.
Depending on the program, you may have to go into a testing facility (sometimes a necessary inconvenience) or other programs let participants complete the test with online testing software.
Don't get too excited, there are still ways to ensure that the test is not available beforehand, the exam is timed so there is not time to look up each of the sometimes hundred questions and the test is screened to detect cheating.
After you complete the program you will typically be given a printed designation proving that you have passed the online private equity training program.
This may be a valuable qualification to employers because it shows that you have taken steps to improve your training in private equity.
But...
many private equity professionals could complete more training and compete better within this competitive industry.