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PERSONAL STATEMENT EXAMPLE Real Estate Personal Statement

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Real Estate Personal Statement

The catalyst of my desire to study Real Estate stems from a young age: when walking around the cobbled streets of Moray Place in Edinburgh's New Town, I was left with a simple question: "why was this street so different to the rest of the New Town?". A few years later, an answer appeared on a BBC programme 'The Secret History of Our Streets': it explained the social change in Edinburgh at the time and that the upper-middle classes wanted to move away from the highly polluted Old Town to the modern and cleaner New Town. The Earl of Moray decided to create the largest Georgian Terrace in Europe, Moray Place. For me, learning that there was so much more to this one street really stirred up a personal interest in the world of Property and Real Estate.

Following on from that, I started looking at property prices around Edinburgh by using Rightmove and subscribing to The Property Hub, receiving three issues a year since early 2016. This was not enough, however, and I wanted to see how a real estate agency operates away from my local city. I was lucky enough to secure a week of work experience at Wetherell's and Carter Jonas in Mayfair, London. In this week, I was taken aback by the complexity of it all, learning legal processes, seeing how changing political climates affect property, and more. During my time at Wetherell's, I was shown a legal process called 'Know Your Customer', which must be used before the purchasing of any property in the UK. This process is used to firstly identify the customer's legitimacy, to avoid money laundering schemes, and to make sure there has been no suspicious behaviour in the past. This Real Estate Law is a part of the course that I find particularly interesting. During my time in London, I independently organised a session with a real estate agent at Knight Frank. I had done some research prior to the session and asked if I could be given an introduction to LonRes, the property data network used by some of the most established real estate companies in the United Kingdom. I was shown how to use the data network, and even helped gather data for a client on the average price per square foot in the area where she was wishing to purchase property. I also learned that the sales process is often a collaborative process, and that many agencies in London and across the UK work together and share data to assist one another.

Taking Geography and Politics for A Level has given me a firm base to study my chosen degree: I have studied housing deprivation and the need for more housing development projects in deprived areas of the UK in Geography coursework, whilst in Government and Politics I have strengthened my knowledge on both the political framework and current political climate in the United Kingdom. Classical Civilisation has given me essential essay writing skills which will be invaluable at university. Outside of school, I had two part-time jobs over the summer: picking 'wild oats' on a farm and working in an engineering factory. Both jobs required good time keeping, enthusiasm and the ability to work in a team. I believe these skills are some of the qualities needed to be successful at university, and would certainly be applicable to my chosen career path. This academic year, I was appointed to the role of School Prefect, giving me responsibilities in supervising and guiding younger members of the school. I am also the anti-bullying representative for my house, a role which requires patience and pastoral skills. I am a keen sportsman and have represented the school at rugby and cricket. This has taught me to communicate well and work with a wide range of personalities.

I see this degree course as the start of a career that I have wished to pursue for a long time. I am ready for this next step in my education in Real Estate and university will help me enhance my knowledge of a subject I have a great passion for.

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Property Management Personal Statement Examples

• 1 Personal Statement Example Links
• 2 Career Opportunities
• 3 UK Admission Requirements
• 4 UK Earnings Potential For Property Managers
• 5 Similar Courses in UK
• 6 UK Curriculum
• 8 Alumni Network

Personal Statement Example Links

• Personal Statement Example 1
• Personal Statement Example 2
• Personal Statement Example 3
• Personal Statement Example 4
• Personal Statement Example 5

Are you interested in pursuing a career in property management? If so, you may be looking for a university course that will provide you with the skills and knowledge necessary to become a successful property manager.

This guide will provide you with an overview of the property management course, as well as personal statement examples to help you craft your own.

Property management is a growing field, with a variety of job opportunities available. Property managers are responsible for the day-to-day management of properties, including residential and commercial buildings. This includes managing tenants, collecting rent, and ensuring that the property is properly maintained.

A university course in property management will provide you with the skills and knowledge necessary to become a successful property manager. You will learn about the legal and financial aspects of property management, as well as the practical skills needed to manage a property. You will also learn about the different types of properties and how to market them.

In addition to the academic side of the course, you will also be required to complete a work placement. This will give you the opportunity to gain practical experience of property management and to put the theory you have learned into practice.

👍 When writing a personal statement : Highlight your passion for the course, demonstrating your understanding of it. Use relevant personal experiences, coursework, or work history to showcase how these have fostered your interest and readiness for the course.

Career Opportunities

A degree in property management can open up a variety of career opportunities.

1. Property Manager: A property manager is responsible for the day-to-day operations of a property, such as leasing, maintenance, and tenant relations. They may also be responsible for marketing the property and ensuring it meets all local and state regulations.

2. Real Estate Agent: Real estate agents help clients buy and sell properties. They must be knowledgeable about the local market and be able to negotiate the best deals for their clients.

3. Property Developer: Property developers are responsible for finding and developing land into profitable properties. They must be knowledgeable about zoning laws, financing, and construction.

4. Facility Manager: Facility managers are responsible for the overall maintenance and upkeep of a property. They must be knowledgeable about building codes, safety regulations, and energy efficiency.

5. Property Appraiser: Property appraisers assess the value of a property for tax purposes or for sale. They must be knowledgeable about the local market and be able to accurately assess a property’s value.

6. Property Accountant: Property accountants are responsible for the financial management of a property. They must be knowledgeable about accounting principles, budgeting, and financial reporting.

7. Construction Manager: Construction managers are responsible for overseeing the construction of a property. They must be knowledgeable about building codes, safety regulations, and construction scheduling.

UK Admission Requirements

In order to get accepted into a university course in Property Management, applicants must have achieved a minimum of a 2:1 in their undergraduate degree, or equivalent qualification, in a related subject such as Real Estate, Business, Economics, or Law. In addition, applicants must have achieved a minimum of a grade B in GCSE Maths and English.

In comparison to similar courses, the entry requirements for a university course in Property Management are quite high. Generally, courses in related fields such as Real Estate, Business, Economics, or Law will require a minimum of a 2:2 in their undergraduate degree, or equivalent qualification, and a minimum of a grade C in GCSE Maths and English. However, for a course in Property Management, applicants must have achieved a higher grade in their undergraduate degree and a higher grade in their GCSEs .

In addition to the academic requirements, applicants may be required to submit a personal statement and/or attend an interview as part of the admissions process. This is to ensure that applicants possess the necessary skills and knowledge to successfully complete the course.

UK Earnings Potential For Property Managers

The average salary for someone with a degree in property management can vary widely depending on the specific job and the location of the job. According to PayScale, the average salary for a UK property manager is £25,000 per year. This can range from £17,000 to £40,000 per year.

In terms of trends in the job market, the demand for property managers is expected to increase in the UK over the next few years. This is due to a combination of factors, including an increasing population, a growing demand for rental properties, and the need for more efficient management of existing properties.

In addition, the UK government has implemented several initiatives to encourage the development of new housing, which will also create more jobs in the property management sector.

Similar Courses in UK

Other university courses related to Property Management are Building Surveying, Real Estate Management, and Property Development.

Building Surveying focuses on the technical aspects of property management, such as building regulations, construction and maintenance. It also covers legal aspects such as landlord and tenant law.

Real Estate Management is a more business-focused course, covering topics such as marketing, finance, and economics. It also covers the legal aspects of property management, such as contracts, leases, and taxation.

Property Development is a more specialized course that focuses on the development of new properties, such as the design, planning, and construction of new buildings. It also covers the legal aspects of property development, such as planning permission and zoning regulations.

The key difference between these courses is the focus. Property Management is a broader course that covers all aspects of property management, from the technical to the business aspects. Building Surveying and Real Estate Management are more specialized courses that focus on specific aspects of property management, while Property Development focuses on the development of new properties.

UK Curriculum

The key topics and modules covered in a university course in Property Management include:

• Introduction to Property Management: This module covers the basics of property management, including the legal and regulatory framework, the role of the property manager, and the key principles of property management.
• Property Law: This module covers the legal aspects of property management, including landlord-tenant law, contract law, and property rights.
• Property Valuation: This module covers the principles of property valuation, including the different methods of valuation and the factors that influence the value of a property.
• Property Maintenance: This module covers the basics of building maintenance, including the inspection and maintenance of buildings, the use of preventive maintenance, and the management of repairs and renovations.
• Property Management Accounting: This module covers the basics of property management accounting, including the use of accounting software, the preparation of financial statements, and the management of accounts receivable and accounts payable.
• Property Management Marketing: This module covers the basics of property management marketing, including the use of marketing strategies and techniques, the use of social media, and the use of digital marketing.
• Property Management Technology: This module covers the use of technology in property management, including the use of software, the use of mobile applications, and the use of cloud-based services.

Alumni Network

Notable alumni from the course in Property Management include real estate developer and investor Sam Zell, who is the founder of Equity Group Investments and Chairman of Equity International. Zell has been involved in many large-scale projects, including the purchase of Anixter International and the purchase of the Tribune Company. He is a major philanthropist, having donated millions of dollars to various causes.

Other notable alumni include real estate mogul Donald Trump , who is the founder of The Trump Organization, and real estate investor and developer Richard LeFrak , who is the founder and CEO of the LeFrak Organization.

Alumni events and networking opportunities are available through the Alumni Network, which is a platform for alumni to connect with each other, share experiences, and stay up-to-date on the latest news and events. The Alumni Network also offers mentorship programs, career development resources, and networking events.

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How to Write a UCAS Personal Statement [With Examples]

James is senior content marketing manager at BridgeU. He writes and directs content for BridgeU's university partners and our community of international schools

What are the big challenges students should be aware of before writing their UCAS Personal Statement?

• The essential ingredients for writing a great Personal Statement
• How to write the UCAS Personal Statement [with examples]

Final hints & tips to help your students

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The UCAS Personal Statement can sometimes be a student’s only chance to impress a UK university. Read our in-depth guide to helping your students plan & write a winning application.

There are hundreds of articles out there on how to write a UCAS Personal Statement that will grab the attention of a UK university admissions officer.  

But if you’re working with students to help them perfect their Personal Statement in time for the  relevant UCAS deadlines , we can sum up the secret to success in three words.

Planning, structure and story. 

The UCAS Personal Statement is a student’s chance to talk about why they want to study for a particular degree, course or subject discipline at a UK university. 

As they set about writing a personal statement, students need to demonstrate the drive, ambition, relevant skills and notable achievements that make them a  suitable candidate for the universities they have chosen to apply to . 

But the UCAS Personal Statement requires students to write a lot about themselves in a relatively short space of time. That’s why lots of planning, a tight structure and a compelling story are essential if a student’s Personal Statement is to truly excel. 

As important deadlines for UK university applications grow closer, we at BridgeU have put together a guide, outlining some of the strategies and techniques to help your students to write a personal statement which is both engaging and truly individual.

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Discover the simple steps that will boost the confidence of your native English speaking & ESL students alike in  University Application Essays: The 5 Secrets of Successful Writing .

As they begin to plan their Personal Statement, students may feel intimidated. It’s not easy to summarise your academic interests and personal ambitions, especially when you’re competing for a place on a course which is popular or has demanding entry requirements. In particular, students will likely come up against the following challenges.

Time pressure

Unfortunately, the Personal Statement (and other aspects of university preparation) comes during the busiest year of the student’s academic life so far.

Students, and indeed teachers and counsellors, must undertake the planning and writing of the personal statement whilst juggling other commitments, classes and deadlines, not to mention revision and open day visits!

Because there is already a lot of academic pressure on students in their final year of secondary school, finding the time and headspace for the personal statement can be hard, and can mean it gets pushed to the last minute. The risks of leaving it to the last minute are fairly obvious – the application will seem rushed and the necessary thought and planning won’t go into  making the personal statement the best it can be . 

Sticking closely to the Personal Statement format

The character limit which UCAS sets for the personal statement is very strict – up to 4,000 characters of text. This means that students have to express themselves in a clear and concise way; it’s also important that they don’t feel the need to fill the available space needlessly.  Planning and redrafting of a personal statement is essential .

Making it stand out

This is arguably the greatest challenge facing students – making sure that their statement sets them apart from everyone else who is competing for a place on any given course; in 2022 alone, UCAS received applications from 683,650 applicants (+1.6k on 2021) students. In addition, UCAS uses its own dedicated team and purpose built software to check every application for plagiarism, so it’s crucial that students craft a truly  original personal statement which is entirely their own work .

The essential ingredients for writing a great UCAS Personal Statement 

We’ve already mentioned our three watch words for writing a high quality Personal Statement.

Planning. Structure. Story. 

Let’s dig deeper into these three essential components in more detail.

Watch: How to Write a UCAS Personal Statement with University of Essex

Planning a ucas personal statement.

It might sound like a no-brainer, but it’s vital that students plan their Personal Statement before they start writing it. Specifically, the planning phase could include: 

• Students thoroughly researching the UK university courses they plan on applying to. 
• Deciding on what relevant material to include in their Personal Statement (we’ll cover this in more detail later on). 
• Writing an unedited first draft where they just get their thoughts and ideas down on paper. 

Structuring a UCAS Personal Statement

As we’ve discussed, the UCAS Personal Statement requires students to be extremely disciplined – they will be required to condense a lot of information into a relatively short written statement. This means that, after they’ve written a rough first draft, they need to think carefully about how they structure the final statement. 

A stand out Personal Statement will need a tight structure, with an introduction and a conclusion that make an impact and really help to tell a story about who your student is, and why they are drawn to studying this particular degree. 

This brings us nicely to our third and final ingredient…

Telling a story with a Personal Statement

The UCAS Personal Statement is a student’s opportunity to show a university who they are and how their life experiences have shaped their academic interests and goals. 

So a good Personal Statement needs to offer a compelling narrative, and that means making sure that a student’s writing is well-structured, and that every sentence and paragraph is serving the statement’s ultimate purpose –  to convince a university that your student deserves a place on their subject of choice. 

How to help your students start their UCAS Personal Statement

In order to ensure that a personal statement is delivered on time and to an appropriate standard, it’s essential to plan thoroughly before writing it. Here are some questions you can ask your students before they start writing:

How can you demonstrate a formative interest in your subject?

It may sound obvious but, in order for any UCAS personal statement to have the necessary structure and clarity, students need to think hard about why they want to study their chosen subject. Ask them to think about their responses to the following questions:

What inspired you to study your chosen subject?

Example answer:  My desire to understand the nature of reality has inspired me to apply for Physics and Philosophy

Was there a formative moment when your perspective on this subject changed, or when you decided you wanted to study this subject in more detail?

Example answer:  My interest in philosophy was awakened when I questioned my childhood religious beliefs; reading Blackburn’s “Think”, convinced me to scrutinise my assumptions about the world, and to ensure I could justify my beliefs.

Can you point to any role models, leading thinkers, or notable literature which has in turn affected your thinking and/or inspired you?

Example answer :  The search for a theory of everything currently being conducted by physicists is of particular interest to me and in “The Grand Design” Hawking proposes a collection of string theories, dubbed M-theory, as the explanation of why the universe is the way it is.

Asking your students to think about the “why” behind their chosen subject discipline is a useful first step in helping them to organise their overall statement. Next, they need to be able to demonstrate evidence of their suitability for a course or degree. 

How have you demonstrated the skills and aptitudes necessary for your chosen course?

Encourage students to think about times where they have demonstrated the necessary skills to really stand out. It’s helpful to think about times when they have utilised these skills both inside and outside the classroom. Ask students to consider their responses to the following questions. 

Can you demonstrate critical and independent thinking around your chosen subject discipline?

Example answer :  Currently I am studying Maths and Economics in addition to Geography. Economics has been a valuable tool, providing the nuts and bolts to economic processes, and my geography has provided a spatial and temporal element.

Are you able to demonstrate skills and competencies which will be necessary for university study?

These include qualities such as teamwork, time management and the ability to organise workload responsibly.

Example answer:  This year I was selected to be captain of the 1st XV rugby team and Captain of Swimming which will allow me to further develop my leadership, teamwork and organisational skills.

How have your extracurricular activities helped prepare you for university?

Students may believe that their interests outside the classroom aren’t relevant to their university application. So encourage them to think about how their other interests can demonstrate the subject-related skills that universities are looking for in an application. Ask students to think about any of the following activities, and how they might be related back to the subject they are applying for.

• Clubs/societies, or volunteering work which they can use to illustrate attributes such as teamwork, an interest in community service and the ability to manage their time proactively.
• Have they been elected/nominated as a team captain, or the head of a particular club or society, which highlights leadership skills and an ability to project manage?
• Can they point to any awards or prizes they may have won, whether it’s taking up a musical instrument, playing a sport, or participating in theatre/performing arts?
• Have they achieved grades or qualifications as part of their extracurricular activities? These can only help to demonstrate aptitude and hard work. 

How to write the UCAS Personal Statement [with examples] 

If sufficient planning has gone into the personal statement, then your students should be ready to go!

In this next section, we’ll break down the individual components of the UCAS Personal Statement and share some useful examples.

These examples come from a Personal Statement in support of an application to study Environmental Science at a UK university. 

Watch: King’s College London explain what they’re looking for in a UCAS Personal Statement

Introduction.

This is the chance for an applying student to really grab an admission tutor’s attention. Students need to demonstrate both a personal passion for their subject, and explain why they have an aptitude for it .  This section is where students should begin to discuss any major influences or inspirations that have led them to this subject choice. 

Example :  My passion for the environment has perhaps come from the fact that I have lived in five different countries: France, England, Spain, Sweden and Costa Rica. Moving at the age of 15 from Sweden, a calm and organized country, to Costa Rica, a more diverse and slightly chaotic country, was a shock for me at first and took me out of my comfort zone […] Also, living in Costa Rica, one of the most biodiverse countries in the world, definitely helped me realize how vulnerable the world is and how we need to take care of it in a sustainable manner. 

This opening paragraph immediately grabs the reader’s attention by giving the reader an insight into this student’s background and links their academic interests with something specific from the student’s personal backstory. 

Discussing Academic Achievements 

The next paragraph in this Personal Statement discusses the student’s academic achievements. Because this student has had an international education, they frame their academic achievements in the context of their personal background. They also cite useful examples of other curricula they have studied and the grades they have achieved. 

Example : 

Throughout my academic life I have shown myself to be a responsible student as well as a hard working one, despite the fact that I have had to move around a lot. I have achieved several other accomplishments such as a high A (286/300) in AS Spanish at age 15, and also completed a Spanish course of secondary studies for ‘MEP’(Ministerio de Educacion Publica), which is a system from Costa Rica.   

You’ll notice that this student doesn’t just list their achievements – their strong academic performance is always linked back to a wider discussion of their personal experiences. 

Showcasing Extracurricular Activities

As well as discussing academic achievements, a good Personal Statement should also discuss the student’s extracurricular activities, and how they relate back to the student’s overall university aspirations. 

By the third/fourth paragraph of the Personal Statement, students should think about incorporating their extracurricular experiences, 

Another valuable experience was when my class spent a week at a beach called ‘Pacuare’ in order to help prevent the eggs of the endangered leatherback turtle from being stolen by poachers who go on to sell them like chicken eggs. We all gained teamwork experience, which was needed in order to hide the eggs silently without scaring the mother turtles, as well as making it more difficult for the poachers to find them. 

When the poachers set fire to one of the sustainable huts where we were staying, not only did I gain self-awareness about the critical situation of the world and its ecosystems, I also matured and became even more motivated to study environmental sciences at university.

This is a particularly striking example of using extracurricular activities to showcase a student’s wider passion for the degree subject they want to study. 

Not only does this Personal Statement have a story about volunteering to save an endangered species, it also illustrates this applicants’ wider worldview, and helps to explain their motivation for wanting to study Environmental Science. 

Concluding the UCAS Personal Statement

The conclusion to a UCAS Personal Statement will have to be concise, and will need to tie all of a student’s academic and extracurricular achievements. After all, a compelling story will need a great ending. 

Remember that students need to be mindful of the character limit of a Personal Statement, so a conclusion need only be the length of a small paragraph, or even a couple of sentences. 

“ After having many varied experiences, I truly think I can contribute to university in a positive way, and would love to study in England where I believe I would gain more skills and education doing a first degree than in any other country.  “

A good Personal Statement conclusion will end with an affirmation of how the student thinks they can contribute to university life, and why they believe the institution in question should accept them. Because the student in this example has a such a rich and varied international background, they also discuss the appeal of studying at university in England. 

It’s worth taking a quick look at a few other examples of how other students have chosen to conclude their Personal Statement. 

Medicine (Imperial College, London) 

Interest in Medicine aside, other enthusiasms of mine include languages, philosophy, and mythology. It is curiously fitting that in ancient Greek lore, healing was but one of the many arts Apollo presided over, alongside archery and music.   I firmly believe that a doctor should explore the world outside the field of  Medicine, and it is with such experiences that I hope to better empathise and connect with the patients I will care for in my medical career. 

You’ll notice that this example very specifically ties the students’ academic and extracurricular activities together, and ties the Personal Statement back to their values and beliefs. 

Economic History with Economics (London School of Economics)

The highlight of my extra-curricular activities has been my visit to Shanghai with the Lord Mayor’s trade delegation in September 2012. I was selected to give a speech at this world trade conference due to my interest in economic and social history. […] I particularly enjoyed the seminar format, and look forward to experiencing more of this at university. My keen interest and desire to further my knowledge of history and economics, I believe, would make the course ideal for me.

By contrast, this conclusion ties a memorable experience back to the specifics of how the student will be taught at the London School of Economics – specifically, the appeal of learning in seminar format! 

There’s no magic formula for concluding a Personal Statement. But you’ll see that what all of these examples have in common is that they tie a student’s personal and academic experiences together – and tell a university something about their aspirations for the future.

Watch: Bournemouth University explain how to structure a UCAS Personal Statement

Know the audience

It can be easy for students to forget that the person reading a personal statement is invariably an expert in their field. This is why an ability to convey passion and think critically about their chosen subject is essential for a personal statement to stand out. Admissions tutors will also look for students who can structure their writing (more on this below). 

Students should be themselves

Remember that many students are competing for places on a university degree against fierce competition. And don’t forget that UCAS has the means to spot plagiarism. So students need to create a truly honest and individual account of who they are, what they have achieved and, perhaps most importantly, why they are driven to study this particular subject.

Proof-read (then proof-read again!)

Time pressures mean that students can easily make mistakes with their Personal Statements. As the deadline grows closer, it’s vital that they are constantly checking and rechecking their writing and to ensure that shows them in the best possible light. 

Meanwhile, when it comes to giving feedback to students writing their Personal Statements, make sure you’re as honest and positive as possible in the days and weeks leading up to submission day. 

And make sure they remember the three key ingredients of writing a successful Personal Statement. 

Planning, structure and story! 

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Personal statements for postgraduate applications

Your Masters personal statement is an essential part of your postgraduate application as it's this document that will convince admissions tutors that you're worthy of a place on a course. Discover how to write a Masters personal statement and take a look at some examples for inspiration

What is a personal statement?

A Masters personal statement is a piece of writing that you submit as part of your  postgraduate application . It's your first real chance to sell yourself to the university and to demonstrate to admissions tutors that you're right for the course.

It's likely that you've already written a  personal statement for your Bachelors degree , so this should give you some idea of what to expect. However, don't be tempted to use your undergraduate personal statement as a template. You will have progressed academically since then and admissions tutors will want to see evidence of this.

Your postgraduate personal statement should be unique and tailored to the course that you're applying to. Use the opportunity to show off your academic interests and abilities, and to demonstrate that the programme will benefit from your attendance as much as you'll benefit from studying it.

'Personal statements have a two-way function in the application process,' explains Steve Carruthers, head of postgraduate admissions and student visa compliance at the University of East Anglia (UEA). 'They are critical to demonstrating the student is right for the course, showing their experience, knowledge, background and personality, as well as their interest in the subject. They also enable the admissions team to ensure the selected course is the best fit for the student's aspirations and goals, or to make alternate recommendations to ensure all options have been equally considered.'

How long should a postgraduate personal statement be?

A Masters personal statement should be around 500 words. This equates to one side of A4. However, some universities require more, often two sides. Some institutions also set a character limit instead of a specific word count, so it's important that you check the application guidelines before starting to write your statement.

As they're relatively short, don't waste words on autobiographical information. This isn't necessary in postgraduate personal statements. Instead, focus on why you want to study a particular programme and your potential to successfully complete the course.

What should I include in a Masters personal statement?

'The statement is a snapshot of who you are  and why you've chosen your course, so include everything that helps an academic or admissions team see that clearly,' advises Steve.

You should tailor your personal statement to fit the course you're applying for, so what to include will largely depend on the course requirements. However, in general you should write about:

• Your reasons for applying for a particular programme and why you deserve a place above other candidates - 'demonstrate your interest and passion for the course and subject. This tells admissions staff you're more likely to fully engage in your studies,' says Steve. Discuss your academic interests, career goals and the university and department's reputation, and write about which aspects of the course you find most appealing, for example particular modules or work experience opportunities. Show that you're ready for the demands of postgraduate life by demonstrating your knowledge and experience.
• Your preparation  - address how undergraduate study has prepared you for a postgraduate course, mentioning your independent work (e.g. dissertation) and topics that most interested you.
• Evidence of your skillset  - 'show your writing skills, intellect and ability to succeed academically, as well as the effect and impact you may have on the cohort as a leader, influencer, or enthusiastic team member,' adds Steve. Highlight relevant skills and knowledge that will enable you to make an impact on the department, summarising your abilities in core areas including IT, numeracy, organisation, communication, time management and critical thinking. You can also cover any grades, awards, work placements, extra readings or conferences that you've attended and how these have contributed to your readiness for Masters study.
• Your goals  - 'Your long-term plans and aspirations are also important to cover, as they both help ensure you've selected the best course to achieve these, but also give the academic team an understanding of how they might best support you through your studies,' says Steve.

Address any  weaknesses, such as lower-than-expected module performance in your undergraduate degree or gaps in your education history. The university will want to know about these, so explain them with a positive spin. Cover how these gaps and weaknesses have been addressed and what will be different in your  postgraduate studies.

How should I structure my personal statement?

Your personal statement should follow a logical, methodical structure, where each paragraph follows on from the one before. Make sure paragraphs are short, succinct, clear and to the point. Remember, you only have 500 words so use them wisely.

Capture the reader's attention with an enthusiastic introduction covering why you want to study a particular Masters. Then, engage the reader in your middle paragraphs by summing up your academic and employment background, evidencing your knowledge and skills and demonstrating why the course is right for you.

Your conclusion should be concise, summarising why you're the ideal candidate. Overall, aim for five or six paragraphs. You can use headings to break up the text if you prefer.

The majority of postgraduate applications are submitted online directly to the university. If this is the case, present your personal statement in a standard font such as Arial, Calibri or Times New Roman, text size 11 or 12. If your course application is submitted through UKPASS (UCAS's postgraduate application service) font style won't matter, as personal statements are automatically formatted.

How can I write a good postgraduate personal statement?

• Give yourself plenty of time and don't rush . Your personal statement can make or break your application so it needs to be right. Tutors can tell if you're bluffing, and showing yourself up as uninformed could be costly. Before you start, read the rules and guidelines provided, check the selection criteria and research the course and institution.
• Use AI tools responsibly - 'Remember, this is a 'personal' statement, so make sure it's all about you,' stresses Steve. 'Using AI such as ChatGTP or Google Bard to generate a statement may be easier, but generalised statements that miss out you, your personality and experiences will never be as effective. Personal stories and experiences really bring your statement to life, and this is one of those times it's ok to talk boldly about all you've achieved, and your qualities.'
•  Adopt a positive, enthusiastic and professional tone and write in clear, short sentences . Avoid elaborate or overly complicated phrases. Unless otherwise stated, all postgraduate personal statements should be written in English and your spelling, grammar and punctuation must be spot on, as the personal statement acts as a test of your written communication skills..
• Don't use the same supporting statement for every course . Admissions tutors can spot copy-and-paste jobs. Generic applications demonstrate that you have little understanding of the course. In order to stand out from the crowd, Masters personal statements must be unique and specific to the course and institution.
• Draft and redraft your statement until you're happy . Then ask a friend, family member or careers adviser to read it. Proofreading is incredibly important to avoid mistakes. Memorise what you've written before any interviews.

What do I need to avoid?

• follow online examples too closely, use them as a guide only
• use your undergraduate UCAS application as a template
• be negative
• lie or exaggerate
• use clichés, gimmicks, humour, over-used words such as 'passion' or Americanisms
• include inspirational quotes
• make pleading/begging statements
• needlessly flatter the organisation
• include irrelevant course modules, personal facts or extra-curricular activities
• use overly long sentences
• repeat information found elsewhere in your application
• leave writing your personal statement to the last minute.

How should I start my Masters personal statement?

Steve believes there is no right way to start a personal statement so try not to waste too much time coming up with a catchy opening. The more you try, the more contrived you'll sound and the more likely you are to fall into the trap of using clichés. 'A good rule of thumb is to make it interesting, personal (avoiding bland generalisms) and enthusiastic for your choice of study.’

'Your opening lines could include how your current interests (we're less interested in you as a six year old) have led you to apply for this course, and how you see it helping you achieve both your full potential and future aspirations,' says Steve.

Avoid using overused phrases, such as:

• For as long as I can remember…
• From a young age…
• I am applying for this course because…
• Throughout my life I have always enjoyed…
• I have always been interested in…
• I have always been passionate about…
• I have always wanted to pursue a career in…
• Reflecting on my educational experiences…

Admissions tutors read hundreds of applications per course so the opening paragraph of your personal statement needs to get straight to the point and make a real impact. Avoid overkill statements, gimmicks and popular quotes.

If you're really struggling, come back and tackle the opening once you have written the rest.

How should I end my personal statement?

Conclusions should be short, sharp and memorable, and leave no doubt in an admissions tutor's mind that you deserve a place on a course.

The perfect ending should pull all of your key points together without waffling or repeating yourself.

Like the rest of your Masters personal statement, keep the ending simple. Be succinct and make it clear why you'll be an asset to the university and end on a positive note, with a statement about why the institution would be lucky to have you as a student.

What are admissions tutors looking for?

'Passion for the subject, and an understanding of the key challenges and problems it's currently facing, as well as the research being undertaken to solve these or to move the field forwards, really endears you to the academics who you'll be interacting with,' explains Steve.

'Strong writing skills are a gift, so be clear and concise about what you want to say, and always get a second pair of eyes to check spelling and grammar as well as readability.'

Make sure you also provide:

• an explanation of how the course links your past and future
• an insight into your academic and non-academic abilities, and how they'll fit with the course
• evidence of your skills, commitment and enthusiasm
• knowledge of the institution's area of expertise
• reasons why you want to study at the institution.

Personal statement examples

The style and content of your postgraduate personal statement depends on several variables, such as the type of qualification that you're applying for - such as a  Masters degree , a conversion course or  teacher training . Here are some postgraduate personal statement templates to help you get started:

Business management personal statement

Postgraduate courses in business management are popular among graduates. To make your application stand out your personal statement needs to cover your motivations for choosing a specific course at a particular university, your career goals and how the Masters will help you achieve them. Be sure to mention relevant transferrable skills and work experience. Read up on management courses .

Computer science personal statement

If you'd like to complete a Masters but studied an unrelated subject at undergraduate level you'll need to explain why you'd like to change disciplines. In the case of computer science your personal statement will need to show that you possess the technical, mathematical and analytical skills necessary, as well as demonstrate your knowledge of the subject area. Gain an insight into the information technology sector .

Law personal statement

You'll apply for an LLM the same way you would for any other Masters, directly to the university. Whether you're undertaking a general LLM or a more specific programme, such as an LLM in human rights or international business law, you'll need to convey why you want to study the law in more depth and how this could potentially aid your career. Discover more about LLM degrees .

Nursing personal statement

If you didn't study the subject at undergraduate level but you'd like to apply for a postgraduate course in nursing your personal statement needs to convey your reasons for choosing this career path, as well as demonstrate a specific set of skills, knowledge of the working environment and relevant  experience. Find out more about working as an adult or children's nurse .

Psychology personal statement

Applications for conversion courses such as these are fairly straightforward and made directly to individual institutions. You need to explain why you want to change subjects and how your current subject will help you. Explain what experience you have that will help with your conversion subject, and what you hope to do in the future. Learn more about  psychology conversion courses .

Social work personal statement

If your Bachelors degree was in an unrelated subject but you now have ambitions to work as a social worker you'll need a Masters in social work (MSW) to qualify. Social work Masters have a substantial work placement element so you'll need to cover what you hope to achieve during this time as well as demonstrate other relevant experience. Find out more about social work courses .

PGCE primary personal statement

As well as detailing why you want to work with this particular age group, a PGCE primary personal statement should highlight the ways in which your educational background has inspired you to teach. You'll need to cover relevant skills you have gained and any related work experience, as well as demonstrate your knowledge of the primary national curriculum. Read up on PGCEs .

PGCE secondary personal statement

You'll need to cover why you want to teach at secondary level while also acknowledging the pressures and challenges of working with older pupils. As you'll be teaching a specific subject, you'll need to evidence your knowledge in this area and demonstrate how your first degree was relevant. It's also essential to highlight any related work or voluntary experience. Learn more about teaching personal statements .

Find out more

• Search postgraduate courses .
• Find out what else you must consider when  applying for a Masters degree .
• Completed your application? Discover what  postgraduate interview questions  you may be asked.

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Property Management Personal Statement

Sample Property Management Personal Statement

Property has always left me spellbound. From an aesthetic point of view, I never fail to be amazed by the enormous breadth of building styles and daring property development projects that are attempted in cities such as London and New York, where I spent many of my formative years. However, my interest in property goes far beyond an appreciation for stunning architecture. I am also fascinated by the pivotal role played by property in our economy, whether in the form of property investment, the residential market, or commercial property development. Having learnt the fundamentals of the property world through a foundation degree, and having also taken the initiative of working in the London property sector to gain the sort of knowledge that only first-hand experience can bring, I am now eager to take an Honours degree that will equip me with the skills required for a successful career in property.

After completing my A Levels I went on to study a foundation degree in property at the Royal Agricultural College. The course gave me a thorough and rigorous overview of the main aspects of the property sector, including law, surveying, development, construction and management. I found the content of the course to be highly valuable for understanding the workings of the property industry, and the degree fired within me a strong motivation to pursue a career in property and gain greater knowledge and expertise of the sector through one day taking an Honours degree.

However, rather than immediately progressing to full undergraduate study, I felt that my overall career development and my understanding of the property world would be better served by gaining professional experience in the sector. I am proud of what I have accomplished since completing my foundation course. Initially I worked for eight months as a Lettings Negotiator at an independent property company in London. Through this position I gained a real understanding of the basic principles and mechanisms through which the capital’s property market operates, and it was gratifying to see what I had learned whilst at the Royal Agricultural College in real-life action. The position also allowed me to build on the knowledge that I had acquired through previous property-related internships. In September 2010, for example, I spent a month working with an engineering firm that specialises in period properties, through which I learnt a great deal about the different technical and financial issues surrounding the profitable restoration of buildings.

However, it has been my most recent property venture that has truly introduced me to the many different and exciting challenges of the property world. Earlier this year I started up my own property company. During this time I project managed the complete renovation of a cottage in Suffolk, and at the moment I am selling a multi-million pound property in central London and renovating a three-bedroom flat in South West London. Leading these projects has been immensely rewarding, and has also given me an invaluable insight into the property industry. For example, through selling the central London property I gained first-hand experience in preparing a property sale, which has included collating floor plans, photos, a property description and an EPC, and marketing the property on web portals such as Prime Location. I have been responsible for the whole process and am now in the final stages as a client has made a successful offer on the property.

Whilst I have acquired important first-hand experience and knowledge through my professional activities since leaving the Royal Agricultural College, I recognise that to truly succeed in the property sector it is essential to have undertaken advanced-level studies, not to mention to hold a qualification from the Royal Institute of Chartered Surveyors. For this reason I am highly motivated to take my understanding of property to the next level by completing an Honours degree to the best of my abilities.

We hope this sample Property Management Personal Statement helps with writing your own personal statement.

Personal Statement

• The Application Process
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How to write a personal statement for a uk university, by kathryn abell, 19 october 2015 - 05:11.

Kathryn Abell of  Edukonexion  shares some tips.

When applying to a UK university, the discovery that school grades alone are not enough to gain entry onto the programme of your choice can come as an unwelcome surprise. This is especially true for international students, many of whom see the words 'personal statement' for the first time when starting their university application.

But far from being a barrier, the personal statement is, in fact, one of the stepping stones to achieving your goal of studying at a UK university.

A personal statement can help you stand out

If you have selected your study programme well – that is to say, you have chosen something that you are truly excited about that matches your academic profile – then the personal statement is simply a way to communicate to admissions tutors why you are interested in the programme and what you can bring to it. And given the fact that many universities receive multiple applications for each available place, and that most do not offer an interview, your written statement is often the only way you can express your personality and say 'choose me!'.

The 'personal' in 'personal statement' suggests that you should be allowed to express yourself however you want, right? Well, to a certain extent that is true: admissions tutors want to get a picture of you, not your parents, your teachers or your best friend, so it has to be your work. However, the purpose of the statement is to persuade academic staff that they should offer you one of their highly sought-after university places; although there is no strict template for this, there are specific things you should include and certain things you should most certainly leave out.

The importance of the opening paragraph

The online Universities and Colleges Admissions Service (UCAS) undergraduate application form allows a total of 4,000 characters (around 700 words), meaning that you need to craft the statement carefully. The most important part is unquestionably the opening paragraph, as it acts as an invitation to continue reading. If you are not able to catch the attention of the admissions tutor, who has hundreds of statements to assess, then it is highly unlikely they will read through to the end.

The best advice here is to avoid much-used opening lines and clichés such as 'I have wanted to be an engineer since I was a child'. This kind of thing is not the invitation readers are looking for. Instead, try using an anecdote, experience or inspirational moment: 'Although tinkering with engines had always been a childhood hobby, it was the vision of the fastest car on earth, the Bloodhound, at an exhibition in London, that roused my desire to learn everything I could about automotive engineering'. Really? Tell me more!

Of course, your opening paragraph could start in a variety of ways, but the fundamental purpose is to grab the reader’s interest.

Provide evidence of your commitment and skills

Following on from that, you have to provide evidence of your passion and commitment to your chosen programme, and highlight the specific and transferable skills you possess to study it successfully. You can do this by following the  ABC  rule.

Action:  Include examples of what you have done, experienced or even read that have helped you in your choice of degree and boosted your knowledge of the subject area.

Benefit : By doing these things, explain what you learned or gained; in the case of a book or article, put forward an opinion.

Course : The most successful applicants ensure that the information they include is relevant to their course in order to highlight their suitability. Flower-arranging may allow you to realise your creative potential, but will it help you study astrophysics?

It is perfectly acceptable to base this ABC rule on school-based activities, as not all students have opportunities outside the classroom. However, if you can link extra-curricular pursuits to your desired programme of study, you are further highlighting your commitment. As a general rule of thumb, the information you include here should be around 80 per cent academic and 20 per cent non-academic. So, for example, as a member of the school science club – a non-curricular, academic activity – you may have developed the ability to analyse data and tackle problems logically. Taking part in a work placement falls into the same category and could have helped you develop your communication, time-management and computer skills. You get the idea.

Non-academic accomplishments may involve music, sport, travel or clubs and can lead to a variety of competencies such as team-working, leadership, language or presentation skills. A word of warning here: it is vital that you sell yourself, but arrogance or lies will result in your personal statement landing in the 'rejected' pile. Keep it honest and down-to-earth.

Provide a memorable conclusion

Once you have emphasised your keen interest and relevant qualities, you should round off the statement with a conclusion that will be remembered. There is little point putting all your effort to generate interest in the opening paragraph only for your statement to gradually fade away at the end. A good conclusion will create lasting impact and may express how studying your chosen course will allow you to pursue a particular career or achieve any other plans. It can also underline your motivation and determination.

Use a formal tone, stay relevant and be positive

As you have to pack all this information into a relatively short statement, it is essential to avoid the superfluous or, as I like to call it, the 'fluff'. If a sentence sounds pretty but doesn’t give the reader information, remove it. In addition, the tone should be formal and you should not use contractions, slang or jokes; remember, the statement will be read by academics – often leaders in their field.

Referring to books is fine but don’t resort to using famous quotes as they are overused and do not reflect your own ideas. Also, while it's good to avoid repetition, don't overdo it with the thesaurus.

Negativity has no place in a personal statement, so if you need to mention a difficult situation you have overcome, ensure you present it as a learning experience rather than giving the reader an opportunity to notice any shortcomings. Also, bear in mind that your personal statement will probably go to several universities as part of a single application, so specifically naming one university is not going to win you any favours with the others.

Get some help but never copy someone else's work

Checking grammar, spelling and flow is essential and it is perfectly OK to ask someone to do this for you. A fresh pair of eyes and a different perspective always help, and, as long as the third party does not write the content for you, their input could be of vital importance. And while you may get away with not sticking to all of the above advice, there is one thing that you absolutely must not do: copy someone else’s work. Most applications are made through UCAS, which uses sophisticated software to detect plagiarism. If you are found to have copied content from the internet, or a previous statement, your application will be cancelled immediately. Remember, it is a  personal  statement.

Get your ideas down in a mind-map first

Finally, I will leave you with my top tip. If you understand all the theory behind the personal statement and have an abundance of ideas floating in your head, but are staring blankly at your computer screen, take a pen and paper and make a simple mind map. Jot down all your experiences, activities, skills, attributes and perhaps even include books you have read or even current items that interest you in the news. Then look for how these link to your course and highlight the most significant elements using arrows, colours and even doodles. Capturing thoughts on paper and making logical deductions from an image can give structure to your ideas.

Get more advice on your application from our Study UK site .

You might also be interested in:

• How to use a learner's dictionary of academic English
• Five ways UK students can improve their career prospects
• Ways of saying 'darling' in the UK

View the discussion thread.

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How to write a personal statement

How to approach writing your personal statement for graduate applications.

If you’re applying for a grad course that requires a personal statement (sometimes also called a ‘statement of purpose’), it can be difficult to know where to start and what to include. Read on for tips from some of our masters’ students about their process and what they found helpful.

1. Before you start

The academic work is the most important reason why we’re here, but that also translates into work experiences, internships, volunteering. I think a big part of the personal statement is crafting that narrative of academic self that fits alongside your professional experiences, to give that greater picture of who you are as an academic. Lauren (MSc Modern Middle Eastern Studies)

Start by thinking about the skills, knowledge and interests you’ve acquired over time and how the course at Oxford will take them forward.

Your statement is the story you want to tell about yourself and your academic work to the department you are applying to.

Most of your application and its supporting documents communicate plain facts about your academic career so far. Your personal statement is your best opportunity to put these facts into context and show assessors how you’ve progressed and excelled.

Make sure you highlight evidence of your achievements (a high grade in a relevant area, an award or scholarship, a research internship).

Presenting yourself

When I was writing my personal statement, I went onto my course website. I looked at what they emphasised and what kind of students they were looking for, and I wrote about my experiences based on that. Kayla (MSc in Clinical Embryology)

Make it easy for an assessor to see how you meet the entry requirements for the course (you can find these on each course page ).

Don’t make any assumptions about what Oxford is looking for!

Get to know your department

You want to study this particular subject and you want to study at Oxford (you’re applying here, so we know that!) but why is Oxford the right place for you to study this subject? What interests or qualities of the academic department and its staff make it attractive to you?

Use your academic department’s website for an overview of their research, academic staff and course information (you'll find a link to the department's own website on each course page ).

I said, ‘why do I actually want to be here? What is it about being at Oxford that’s going to get me to what I want to do? Sarah (Bachelor of Civil Law)

Talk it out

Talking to others about your statement can be a great way to gather your ideas and decide how you’d like to approach it. Sarah even managed to get benefit out of this approach by herself:

“I spent a lot of time talking out loud. My written process was actually very vocal, so I did a lot of talking about myself in my room.”

2. The writing process

Know your format.

Make sure you’ve read all the guidance on the How to Apply section of your course page , so you know what’s needed in terms of the word count of the final statement, what it should cover and what it will be assessed for. This should help you to visualise roughly what you want to end up with at the end of the process.

Make a start

When it comes to writing your personal statement, just getting started can be the hardest part.

One good way to get around writer’s block is to just put it all down on the page, like Mayur.

First - write down anything and everything. In the first round, I was just dumping everything - whatever I’ve done, anything close to computer science, that was on my personal statement. Mayur (MSc Computer Science)

You’ll be editing later anyway so don’t let the blank page intimidate you - try writing a little under each of the following headings to get started:

• areas of the course at Oxford that are the most interesting to you
• which areas you’ve already studied or had some experience in
• what you hope to use your Oxford course experience for afterwards.

3. Finishing up

Get some feedback.

Once you’ve got a draft of about the right length, ask for feedback on what you’ve written. It might take several drafts to get it right.

This could involve getting in touch with some of your undergraduate professors to ask them to read your draft and find any areas which needed strengthening.

You could also show it to people who know you well, like family or friends.

Because they’re the first people to say, ‘Who is that person?’ You want the people around you to recognise that it really sounds like you. It can be scary telling family and friends you’re applying for Oxford, because it makes it real, but be brave enough to share it and get feedback on it. Sarah (Bachelor of Law)

Be yourself

Finally - be genuine and be yourself. Make sure your personal statement represents you, not your idea about what Oxford might be looking for.

We have thousands of students arriving every year from a huge range of subjects, backgrounds, institutions and countries (you can hear from a few more of them in our My Oxford interviews).

Get moving on your application today

To find out more about supporting documents and everything else you need to apply, read your course page and visit our Application Guide .

Applicant advice hub

This content was previously available through our  Applicant advice hub . The hub contained links to articles hosted on our  Graduate Study at Oxford Medium channel . We've moved the articles that support the application process into this new section of our website.

• Application Guide: Statement of purpose

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• Entering and staying in the UK
• Visas and entry clearance
• Work and investor visas
• Graduate route: rapid review
• Migration Advisory Committee

Letter to the Home Secretary on the rapid review of the Graduate route (accessible)

Updated 16 May 2024

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Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.

This publication is available at https://www.gov.uk/government/publications/graduate-route-rapid-review/letter-to-the-home-secretary-on-the-rapid-review-of-the-graduate-route-accessible

Migration Advisory Committee 2nd Floor Peel Building NE 2 Marsham Street London SW1P 4DF

[email protected]

14 May 2024

Rt Hon James Cleverly MP Home Secretary 2 Marsham Street London SW1P 4DF

Dear Home Secretary,

I am pleased to inform you that we have published the Migration Advisory Committee’s (MAC) rapid review of the Graduate route, a copy of which has been provided to your office.

Our report provides insights on the five questions posed in your commissioning letter. We have not found evidence of widespread abuse on the Graduate route, where we define abuse as deliberate non-compliance with immigration rules, and we conclude that the route is not undermining the integrity and quality of the UK higher education system. However, we have reason to believe that some agents and subagents recruiting international students are mis-selling UK higher education and exploiting students in the process. We expect the impact on public finances of Graduate visa holders on the route to be small but positive, as most appear to work, are young, and have no recourse to public funds.

Having laid out in full our answers to these five questions in our report, we provide three sets of recommendations:

We recommend retaining the Graduate route in its current form. We found that the Graduate route is broadly achieving the objectives set out by the Home Office, while also supporting Government education policy as outlined in the International Education Strategy. The changes to the rules on student dependants which were implemented in January and are in effect a change to the dependant rules of the Graduate route, will likely have a significant effect on Graduate route usage going forward. Whilst initial data suggests these changes are already substantially reducing international student numbers, we believe their full impact should be assessed before considering further changes. Implementing additional restrictions or closing the route now could risk overcorrection. Given international student fees help make up the financial deficit that universities have from teaching domestic students and research, any significant restrictions to the route should only be considered once the structural funding issues in the higher education sector have been addressed. This speaks to the broader point that any changes to migration policy will likely involve trade-offs across other areas of Government policy.

We recommend that the Government establishes a mandatory registration system for international recruitment agents and subagents which encompasses the quality controls in the voluntary Agent Quality Framework, consulting with the Devolved Administrations to ensure UK-wide coverage. We recommend that universities should be required to publish data on their spend on recruitment agents and the number of international students recruited through such means annually as a starting point to improving disclosure. Whilst most agents play an important role in promoting the UK and in supporting international students, we found some examples of bad practice from certain agents. Our recommendations should help ensure that the quality of UK higher education is upheld, and students are protected from exploitation.

We provide several recommendations on data and monitoring for the route and the wider immigration system which are outlined in our report. Firstly, we recommend that the Government should only open new migration routes or make significant policy changes when it has a clear plan for how it will collect and monitor data to assess the effectiveness of the route against its objectives and understand wider impacts. We also recommend that the Home Office introduces a requirement for universities to provide it with confirmation of the course outcome (e.g., class of degree) on the Student route, in addition to confirmation that a course has been successfully completed which is currently required. We note that some of the data you referred to in your commissioning letter was incorrect. This data was not referring to those that had switched from the Graduate route to the Skilled Worker route, rather it covered those that had switched from the Student route to the Skilled Worker route. This takes us to our next recommendation; we recommend the Home Office undertakes a review of the data variables used for analytical purposes across the largest visa routes (including the Skilled Worker route, Student route and Graduate route) to develop a clear definition of what these data represent, and the quality of each variable collected. Finally, we recommend that the Government explore and make further use of the HO/HMRC matched data.

We look forward to your response to our report and to receiving the Immigration Salary List commission shortly.

On behalf of the Migration Advisory Committee,

Yours sincerely,

Professor Brian Bell Chair, Migration Advisory Committee

• Tom Pursglove MP, Minister of State for Legal Migration and the Border
• Matthew Rycroft, Home Office Permanent Secretary
• Simon Ridley, Home Office Second Permanent Secretary
• Daniel Hobbs, Director General Migration and Borders Group

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NEWS... BUT NOT AS YOU KNOW IT

Baby Reindeer’s ‘real Martha’ Fiona Harvey’s ‘vile emails to Keir Starmer revealed’

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Baby Reindeer ’s ‘real Martha’ Fiona Harvey reportedly used derogatory slurs and hounded Sir Keir Starmer with hundreds of vile emails , and was even reported to the police three years ago, it’s been claimed.

The Netflix series, created by Richard Gadd and said to be based on a true story, follows his character Donny Dunn meeting a  woman named Martha (played by Jessica Gunning) , who develops an obsession with him and begins stalking him.

After a seemingly friendly encounter, her actions turn incredibly sinister, after she begins waiting outside his house, sending him thousands of emails, and even harassing his parents and turning violent towards his girlfriend.

Following the release of the seven-part series, comedian Gadd urged viewers not to try and uncover Martha’s real identity , though Harvey has now spoken out several times, including in an explosive Piers Morgan interview .

During the Uncensored interview, she was grilled on the emails she sent and she described the show as ‘a work of fiction, a work of hyperbole’, insisting: ‘I wanted to rebut that completely on this show – I am not a stalker, I have not been to jail, I’ve not got injunctions – it is complete nonsense.’

However, after internet sleuths found several social media posts which were referenced in Baby Reindeer, and comedian Janey Godley revealed she had also been hounded by the Scottish woman, it has now been claimed Sir Keir has been at the receiving end of some of her messages, several of which have since been reported by The Sun .

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Harvey allegedly sent the Labour leader a shocking 276 messages in less than eight months, with some of those including ‘vicious attacks’ on him and his family.

She is said to have called him a ‘non job’, ‘a stupid little boy’, and a ‘useless barrister’, and even reportedly said she would target him with complaints to standards watchdogs and wrote: ‘Your life won’t be living.’

In another email, she allegedly calls Sir Keir a ‘nefarious little creep’, and uses a derogatory slur towards him, saying: ‘Never mind we coukd have had Fg Starmer as health minister.’

She also reportedly sent an email which contained a video of her walking around her flat during lockdown, and allegedly launched a racist tirade, saying, amongst other vile alleged comments reported by The Sun: ‘No one is going to put up with these cheeky Somalian s*** all up and down the stairwells taking drugs all summer “No one will put up with the Muslim so called women s*** in the trees either.’

One email also reportedly used a disabled slur against Sir Keir’s wife Victoria and added: ‘God she looks dreadful. Dreadful,’ elsewhere calling her ‘ugly’ and saying their children need to be ‘taken into care’.

In another, she allegedly called Angela Rayner an ‘imbecile’, and also reportedly tore into Boris Johnson while he was Prime Minister, calling him an ‘Eton t**t’.

The publication claims the hundreds of email were sent to his MP email address between January and August 2020, and were all signed off with ‘Sent from my iPhone’, another detail brought up from the Netflix documentary as Martha didn’t actually have an iPhone.

In a statement sent to Metro.co.uk, the Met Police said: ‘Officers are aware of contact made towards an individual and this has been reviewed by specialist officers. The case remains under review.

‘Detectives from the Met’s Parliamentary and Diplomatic Protection Command are in regular contact with representatives for the complainant.’

Responding to the publication regarding claims she was reported to police, Harvey said: ‘It’s a lot of rubbish and I’m not going to be making a comment.’

During the Uncensored interview earlier this month, Harvey said she had six email addresses and multiple phones, and denied several parts of the Netflix series, including sexually assaulting Gadd, assaulting his girlfriend or launching at him across a bar – something Martha did in the show.

She later spoke out and said  she felt ‘used’ by Morgan , telling the  Daily Record : ‘I have my own thoughts on it that I’d like to keep to myself but I wouldn’t say I was happy. It was very rapid to try to trip me up. He did it fast paced to catch me off guard.’

‘It seemed to me that I was set up. I feel a bit used,’ Harvey added.

Meanwhile, Morgan said she was treated exactly as any other guest and the payment was standard, saying: ‘But we gave her the same amount that we give 95% of our guests. We don’t discuss terms but we pay for a nice hair cut, a car and everything else,’ and reportedly described the interaction as a ‘sparring match’ between the pair, for which his interviewee claims she was only paid £250, and he ‘didn’t believe everything she said’.

‘But that doesn’t mean she can’t be a victim here too,’ he added.

Metro.co.uk has approached Sir Keir’s office and the Met Police for comment.

Baby Reindeer is available to stream on Netflix

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McKinsey Global Private Markets Review 2024: Private markets in a slower era

At a glance, macroeconomic challenges continued.

McKinsey Global Private Markets Review 2024: Private markets: A slower era

If 2022 was a tale of two halves, with robust fundraising and deal activity in the first six months followed by a slowdown in the second half, then 2023 might be considered a tale of one whole. Macroeconomic headwinds persisted throughout the year, with rising financing costs, and an uncertain growth outlook taking a toll on private markets. Full-year fundraising continued to decline from 2021’s lofty peak, weighed down by the “denominator effect” that persisted in part due to a less active deal market. Managers largely held onto assets to avoid selling in a lower-multiple environment, fueling an activity-dampening cycle in which distribution-starved limited partners (LPs) reined in new commitments.

About the authors

This article is a summary of a larger report, available as a PDF, that is a collaborative effort by Fredrik Dahlqvist , Alastair Green , Paul Maia, Alexandra Nee , David Quigley , Aditya Sanghvi , Connor Mangan, John Spivey, Rahel Schneider, and Brian Vickery , representing views from McKinsey’s Private Equity & Principal Investors Practice.

Performance in most private asset classes remained below historical averages for a second consecutive year. Decade-long tailwinds from low and falling interest rates and consistently expanding multiples seem to be things of the past. As private market managers look to boost performance in this new era of investing, a deeper focus on revenue growth and margin expansion will be needed now more than ever.

Perspectives on a slower era in private markets

Global fundraising contracted.

Fundraising fell 22 percent across private market asset classes globally to just over $1 trillion, as of year-end reported data—the lowest total since 2017. Fundraising in North America, a rare bright spot in 2022, declined in line with global totals, while in Europe, fundraising proved most resilient, falling just 3 percent. In Asia, fundraising fell precipitously and now sits 72 percent below the region’s 2018 peak.

Despite difficult fundraising conditions, headwinds did not affect all strategies or managers equally. Private equity (PE) buyout strategies posted their best fundraising year ever, and larger managers and vehicles also fared well, continuing the prior year’s trend toward greater fundraising concentration.

The numerator effect persisted

Despite a marked recovery in the denominator—the 1,000 largest US retirement funds grew 7 percent in the year ending September 2023, after falling 14 percent the prior year, for example 1 “U.S. retirement plans recover half of 2022 losses amid no-show recession,” Pensions and Investments , February 12, 2024. —many LPs remain overexposed to private markets relative to their target allocations. LPs started 2023 overweight: according to analysis from CEM Benchmarking, average allocations across PE, infrastructure, and real estate were at or above target allocations as of the beginning of the year. And the numerator grew throughout the year, as a lack of exits and rebounding valuations drove net asset values (NAVs) higher. While not all LPs strictly follow asset allocation targets, our analysis in partnership with global private markets firm StepStone Group suggests that an overallocation of just one percentage point can reduce planned commitments by as much as 10 to 12 percent per year for five years or more.

Despite these headwinds, recent surveys indicate that LPs remain broadly committed to private markets. In fact, the majority plan to maintain or increase allocations over the medium to long term.

Investors fled to known names and larger funds

Fundraising concentration reached its highest level in over a decade, as investors continued to shift new commitments in favor of the largest fund managers. The 25 most successful fundraisers collected 41 percent of aggregate commitments to closed-end funds (with the top five managers accounting for nearly half that total). Closed-end fundraising totals may understate the extent of concentration in the industry overall, as the largest managers also tend to be more successful in raising non-institutional capital.

While the largest funds grew even larger—the largest vehicles on record were raised in buyout, real estate, infrastructure, and private debt in 2023—smaller and newer funds struggled. Fewer than 1,700 funds of less than $1 billion were closed during the year, half as many as closed in 2022 and the fewest of any year since 2012. New manager formation also fell to the lowest level since 2012, with just 651 new firms launched in 2023.

Whether recent fundraising concentration and a spate of M&A activity signals the beginning of oft-rumored consolidation in the private markets remains uncertain, as a similar pattern developed in each of the last two fundraising downturns before giving way to renewed entrepreneurialism among general partners (GPs) and commitment diversification among LPs. Compared with how things played out in the last two downturns, perhaps this movie really is different, or perhaps we’re watching a trilogy reusing a familiar plotline.

Dry powder inventory spiked (again)

Private markets assets under management totaled $13.1 trillion as of June 30, 2023, and have grown nearly 20 percent per annum since 2018. Dry powder reserves—the amount of capital committed but not yet deployed—increased to $3.7 trillion, marking the ninth consecutive year of growth. Dry powder inventory—the amount of capital available to GPs expressed as a multiple of annual deployment—increased for the second consecutive year in PE, as new commitments continued to outpace deal activity. Inventory sat at 1.6 years in 2023, up markedly from the 0.9 years recorded at the end of 2021 but still within the historical range. NAV grew as well, largely driven by the reluctance of managers to exit positions and crystallize returns in a depressed multiple environment.

Private equity strategies diverged

Buyout and venture capital, the two largest PE sub-asset classes, charted wildly different courses over the past 18 months. Buyout notched its highest fundraising year ever in 2023, and its performance improved, with funds posting a (still paltry) 5 percent net internal rate of return through September 30. And although buyout deal volumes declined by 19 percent, 2023 was still the third-most-active year on record. In contrast, venture capital (VC) fundraising declined by nearly 60 percent, equaling its lowest total since 2015, and deal volume fell by 36 percent to the lowest level since 2019. VC funds returned –3 percent through September, posting negative returns for seven consecutive quarters. VC was the fastest-growing—as well as the highest-performing—PE strategy by a significant margin from 2010 to 2022, but investors appear to be reevaluating their approach in the current environment.

Private equity entry multiples contracted

PE buyout entry multiples declined by roughly one turn from 11.9 to 11.0 times EBITDA, slightly outpacing the decline in public market multiples (down from 12.1 to 11.3 times EBITDA), through the first nine months of 2023. For nearly a decade leading up to 2022, managers consistently sold assets into a higher-multiple environment than that in which they had bought those assets, providing a substantial performance tailwind for the industry. Nowhere has this been truer than in technology. After experiencing more than eight turns of multiple expansion from 2009 to 2021 (the most of any sector), technology multiples have declined by nearly three turns in the past two years, 50 percent more than in any other sector. Overall, roughly two-thirds of the total return for buyout deals that were entered in 2010 or later and exited in 2021 or before can be attributed to market multiple expansion and leverage. Now, with falling multiples and higher financing costs, revenue growth and margin expansion are taking center stage for GPs.

Real estate receded

Demand uncertainty, slowing rent growth, and elevated financing costs drove cap rates higher and made price discovery challenging, all of which weighed on deal volume, fundraising, and investment performance. Global closed-end fundraising declined 34 percent year over year, and funds returned −4 percent in the first nine months of the year, losing money for the first time since the 2007–08 global financial crisis. Capital shifted away from core and core-plus strategies as investors sought liquidity via redemptions in open-end vehicles, from which net outflows reached their highest level in at least two decades. Opportunistic strategies benefited from this shift, with investors focusing on capital appreciation over income generation in a market where alternative sources of yield have grown more attractive. Rising interest rates widened bid–ask spreads and impaired deal volume across food groups, including in what were formerly hot sectors: multifamily and industrial.

Private debt pays dividends

Debt again proved to be the most resilient private asset class against a turbulent market backdrop. Fundraising declined just 13 percent, largely driven by lower commitments to direct lending strategies, for which a slower PE deal environment has made capital deployment challenging. The asset class also posted the highest returns among all private asset classes through September 30. Many private debt securities are tied to floating rates, which enhance returns in a rising-rate environment. Thus far, managers appear to have successfully navigated the rising incidence of default and distress exhibited across the broader leveraged-lending market. Although direct lending deal volume declined from 2022, private lenders financed an all-time high 59 percent of leveraged buyout transactions last year and are now expanding into additional strategies to drive the next era of growth.

Infrastructure took a detour

After several years of robust growth and strong performance, infrastructure and natural resources fundraising declined by 53 percent to the lowest total since 2013. Supply-side timing is partially to blame: five of the seven largest infrastructure managers closed a flagship vehicle in 2021 or 2022, and none of those five held a final close last year. As in real estate, investors shied away from core and core-plus investments in a higher-yield environment. Yet there are reasons to believe infrastructure’s growth will bounce back. Limited partners (LPs) surveyed by McKinsey remain bullish on their deployment to the asset class, and at least a dozen vehicles targeting more than $10 billion were actively fundraising as of the end of 2023. Multiple recent acquisitions of large infrastructure GPs by global multi-asset-class managers also indicate marketwide conviction in the asset class’s potential.

Private markets still have work to do on diversity

Private markets firms are slowly improving their representation of females (up two percentage points over the prior year) and ethnic and racial minorities (up one percentage point). On some diversity metrics, including entry-level representation of women, private markets now compare favorably with corporate America. Yet broad-based parity remains elusive and too slow in the making. Ethnic, racial, and gender imbalances are particularly stark across more influential investing roles and senior positions. In fact, McKinsey’s research  reveals that at the current pace, it would take several decades for private markets firms to reach gender parity at senior levels. Increasing representation across all levels will require managers to take fresh approaches to hiring, retention, and promotion.

Artificial intelligence generating excitement

The transformative potential of generative AI was perhaps 2023’s hottest topic (beyond Taylor Swift). Private markets players are excited about the potential for the technology to optimize their approach to thesis generation, deal sourcing, investment due diligence, and portfolio performance, among other areas. While the technology is still nascent and few GPs can boast scaled implementations, pilot programs are already in flight across the industry, particularly within portfolio companies. Adoption seems nearly certain to accelerate throughout 2024.

Private markets in a slower era

If private markets investors entered 2023 hoping for a return to the heady days of 2021, they likely left the year disappointed. Many of the headwinds that emerged in the latter half of 2022 persisted throughout the year, pressuring fundraising, dealmaking, and performance. Inflation moderated somewhat over the course of the year but remained stubbornly elevated by recent historical standards. Interest rates started high and rose higher, increasing the cost of financing. A reinvigorated public equity market recovered most of 2022’s losses but did little to resolve the valuation uncertainty private market investors have faced for the past 18 months.

Within private markets, the denominator effect remained in play, despite the public market recovery, as the numerator continued to expand. An activity-dampening cycle emerged: higher cost of capital and lower multiples limited the ability or willingness of general partners (GPs) to exit positions; fewer exits, coupled with continuing capital calls, pushed LP allocations higher, thereby limiting their ability or willingness to make new commitments. These conditions weighed on managers’ ability to fundraise. Based on data reported as of year-end 2023, private markets fundraising fell 22 percent from the prior year to just over $1 trillion, the largest such drop since 2009 (Exhibit 1).

The impact of the fundraising environment was not felt equally among GPs. Continuing a trend that emerged in 2022, and consistent with prior downturns in fundraising, LPs favored larger vehicles and the scaled GPs that typically manage them. Smaller and newer managers struggled, and the number of sub–$1 billion vehicles and new firm launches each declined to its lowest level in more than a decade.

Despite the decline in fundraising, private markets assets under management (AUM) continued to grow, increasing 12 percent to $13.1 trillion as of June 30, 2023. 2023 fundraising was still the sixth-highest annual haul on record, pushing dry powder higher, while the slowdown in deal making limited distributions.

Investment performance across private market asset classes fell short of historical averages. Private equity (PE) got back in the black but generated the lowest annual performance in the past 15 years, excluding 2022. Closed-end real estate produced negative returns for the first time since 2009, as capitalization (cap) rates expanded across sectors and rent growth dissipated in formerly hot sectors, including multifamily and industrial. The performance of infrastructure funds was less than half of its long-term average and even further below the double-digit returns generated in 2021 and 2022. Private debt was the standout performer (if there was one), outperforming all other private asset classes and illustrating the asset class’s countercyclical appeal.

Private equity down but not out

Higher financing costs, lower multiples, and an uncertain macroeconomic environment created a challenging backdrop for private equity managers in 2023. Fundraising declined for the second year in a row, falling 15 percent to $649 billion, as LPs grappled with the denominator effect and a slowdown in distributions. Managers were on the fundraising trail longer to raise this capital: funds that closed in 2023 were open for a record-high average of 20.1 months, notably longer than 18.7 months in 2022 and 14.1 months in 2018. VC and growth equity strategies led the decline, dropping to their lowest level of cumulative capital raised since 2015. Fundraising in Asia fell for the fourth year of the last five, with the greatest decline in China.

Despite the difficult fundraising context, a subset of strategies and managers prevailed. Buyout managers collectively had their best fundraising year on record, raising more than $400 billion. Fundraising in Europe surged by more than 50 percent, resulting in the region’s biggest haul ever. The largest managers raised an outsized share of the total for a second consecutive year, making 2023 the most concentrated fundraising year of the last decade (Exhibit 2).

Despite the drop in aggregate fundraising, PE assets under management increased 8 percent to $8.2 trillion. Only a small part of this growth was performance driven: PE funds produced a net IRR of just 2.5 percent through September 30, 2023. Buyouts and growth equity generated positive returns, while VC lost money. PE performance, dating back to the beginning of 2022, remains negative, highlighting the difficulty of generating attractive investment returns in a higher interest rate and lower multiple environment. As PE managers devise value creation strategies to improve performance, their focus includes ensuring operating efficiency and profitability of their portfolio companies.

Deal activity volume and count fell sharply, by 21 percent and 24 percent, respectively, which continued the slower pace set in the second half of 2022. Sponsors largely opted to hold assets longer rather than lock in underwhelming returns. While higher financing costs and valuation mismatches weighed on overall deal activity, certain types of M&A gained share. Add-on deals, for example, accounted for a record 46 percent of total buyout deal volume last year.

Real estate recedes

For real estate, 2023 was a year of transition, characterized by a litany of new and familiar challenges. Pandemic-driven demand issues continued, while elevated financing costs, expanding cap rates, and valuation uncertainty weighed on commercial real estate deal volumes, fundraising, and investment performance.

Managers faced one of the toughest fundraising environments in many years. Global closed-end fundraising declined 34 percent to $125 billion. While fundraising challenges were widespread, they were not ubiquitous across strategies. Dollars continued to shift to large, multi-asset class platforms, with the top five managers accounting for 37 percent of aggregate closed-end real estate fundraising. In April, the largest real estate fund ever raised closed on a record $30 billion.

Capital shifted away from core and core-plus strategies as investors sought liquidity through redemptions in open-end vehicles and reduced gross contributions to the lowest level since 2009. Opportunistic strategies benefited from this shift, as investors turned their attention toward capital appreciation over income generation in a market where alternative sources of yield have grown more attractive.

In the United States, for instance, open-end funds, as represented by the National Council of Real Estate Investment Fiduciaries Fund Index—Open-End Equity (NFI-OE), recorded $13 billion in net outflows in 2023, reversing the trend of positive net inflows throughout the 2010s. The negative flows mainly reflected $9 billion in core outflows, with core-plus funds accounting for the remaining outflows, which reversed a 20-year run of net inflows.

As a result, the NAV in US open-end funds fell roughly 16 percent year over year. Meanwhile, global assets under management in closed-end funds reached a new peak of $1.7 trillion as of June 2023, growing 14 percent between June 2022 and June 2023.

Real estate underperformed historical averages in 2023, as previously high-performing multifamily and industrial sectors joined office in producing negative returns caused by slowing demand growth and cap rate expansion. Closed-end funds generated a pooled net IRR of −3.5 percent in the first nine months of 2023, losing money for the first time since the global financial crisis. The lone bright spot among major sectors was hospitality, which—thanks to a rush of postpandemic travel—returned 10.3 percent in 2023. 2 Based on NCREIFs NPI index. Hotels represent 1 percent of total properties in the index. As a whole, the average pooled lifetime net IRRs for closed-end real estate funds from 2011–20 vintages remained around historical levels (9.8 percent).

Global deal volume declined 47 percent in 2023 to reach a ten-year low of $650 billion, driven by widening bid–ask spreads amid valuation uncertainty and higher costs of financing (Exhibit 3). 3 CBRE, Real Capital Analytics Deal flow in the office sector remained depressed, partly as a result of continued uncertainty in the demand for space in a hybrid working world.

During a turbulent year for private markets, private debt was a relative bright spot, topping private markets asset classes in terms of fundraising growth, AUM growth, and performance.

Fundraising for private debt declined just 13 percent year over year, nearly ten percentage points less than the private markets overall. Despite the decline in fundraising, AUM surged 27 percent to $1.7 trillion. And private debt posted the highest investment returns of any private asset class through the first three quarters of 2023.

Private debt’s risk/return characteristics are well suited to the current environment. With interest rates at their highest in more than a decade, current yields in the asset class have grown more attractive on both an absolute and relative basis, particularly if higher rates sustain and put downward pressure on equity returns (Exhibit 4). The built-in security derived from debt’s privileged position in the capital structure, moreover, appeals to investors that are wary of market volatility and valuation uncertainty.

Direct lending continued to be the largest strategy in 2023, with fundraising for the mostly-senior-debt strategy accounting for almost half of the asset class’s total haul (despite declining from the previous year). Separately, mezzanine debt fundraising hit a new high, thanks to the closings of three of the largest funds ever raised in the strategy.

Over the longer term, growth in private debt has largely been driven by institutional investors rotating out of traditional fixed income in favor of private alternatives. Despite this growth in commitments, LPs remain underweight in this asset class relative to their targets. In fact, the allocation gap has only grown wider in recent years, a sharp contrast to other private asset classes, for which LPs’ current allocations exceed their targets on average. According to data from CEM Benchmarking, the private debt allocation gap now stands at 1.4 percent, which means that, in aggregate, investors must commit hundreds of billions in net new capital to the asset class just to reach current targets.

Private debt was not completely immune to the macroeconomic conditions last year, however. Fundraising declined for the second consecutive year and now sits 23 percent below 2021’s peak. Furthermore, though private lenders took share in 2023 from other capital sources, overall deal volumes also declined for the second year in a row. The drop was largely driven by a less active PE deal environment: private debt is predominantly used to finance PE-backed companies, though managers are increasingly diversifying their origination capabilities to include a broad new range of companies and asset types.

Infrastructure and natural resources take a detour

For infrastructure and natural resources fundraising, 2023 was an exceptionally challenging year. Aggregate capital raised declined 53 percent year over year to $82 billion, the lowest annual total since 2013. The size of the drop is particularly surprising in light of infrastructure’s recent momentum. The asset class had set fundraising records in four of the previous five years, and infrastructure is often considered an attractive investment in uncertain markets.

While there is little doubt that the broader fundraising headwinds discussed elsewhere in this report affected infrastructure and natural resources fundraising last year, dynamics specific to the asset class were at play as well. One issue was supply-side timing: nine of the ten largest infrastructure GPs did not close a flagship fund in 2023. Second was the migration of investor dollars away from core and core-plus investments, which have historically accounted for the bulk of infrastructure fundraising, in a higher rate environment.

The asset class had some notable bright spots last year. Fundraising for higher-returning opportunistic strategies more than doubled the prior year’s total (Exhibit 5). AUM grew 18 percent, reaching a new high of $1.5 trillion. Infrastructure funds returned a net IRR of 3.4 percent in 2023; this was below historical averages but still the second-best return among private asset classes. And as was the case in other asset classes, investors concentrated commitments in larger funds and managers in 2023, including in the largest infrastructure fund ever raised.

The outlook for the asset class, moreover, remains positive. Funds targeting a record amount of capital were in the market at year-end, providing a robust foundation for fundraising in 2024 and 2025. A recent spate of infrastructure GP acquisitions signal multi-asset managers’ long-term conviction in the asset class, despite short-term headwinds. Global megatrends like decarbonization and digitization, as well as revolutions in energy and mobility, have spurred new infrastructure investment opportunities around the world, particularly for value-oriented investors that are willing to take on more risk.

Private markets make measured progress in DEI

Diversity, equity, and inclusion (DEI) has become an important part of the fundraising, talent, and investing landscape for private market participants. Encouragingly, incremental progress has been made in recent years, including more diverse talent being brought to entry-level positions, investing roles, and investment committees. The scope of DEI metrics provided to institutional investors during fundraising has also increased in recent years: more than half of PE firms now provide data across investing teams, portfolio company boards, and portfolio company management (versus investment team data only). 4 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023.

In 2023, McKinsey surveyed 66 global private markets firms that collectively employ more than 60,000 people for the second annual State of diversity in global private markets report. 5 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023. The research offers insight into the representation of women and ethnic and racial minorities in private investing as of year-end 2022. In this chapter, we discuss where the numbers stand and how firms can bring a more diverse set of perspectives to the table.

The statistics indicate signs of modest advancement. Overall representation of women in private markets increased two percentage points to 35 percent, and ethnic and racial minorities increased one percentage point to 30 percent (Exhibit 6). Entry-level positions have nearly reached gender parity, with female representation at 48 percent. The share of women holding C-suite roles globally increased 3 percentage points, while the share of people from ethnic and racial minorities in investment committees increased 9 percentage points. There is growing evidence that external hiring is gradually helping close the diversity gap, especially at senior levels. For example, 33 percent of external hires at the managing director level were ethnic or racial minorities, higher than their existing representation level (19 percent).

Yet, the scope of the challenge remains substantial. Women and minorities continue to be underrepresented in senior positions and investing roles. They also experience uneven rates of progress due to lower promotion and higher attrition rates, particularly at smaller firms. Firms are also navigating an increasingly polarized workplace today, with additional scrutiny and a growing number of lawsuits against corporate diversity and inclusion programs, particularly in the US, which threatens to impact the industry’s pace of progress.

Fredrik Dahlqvist is a senior partner in McKinsey’s Stockholm office; Alastair Green  is a senior partner in the Washington, DC, office, where Paul Maia and Alexandra Nee  are partners; David Quigley  is a senior partner in the New York office, where Connor Mangan is an associate partner and Aditya Sanghvi  is a senior partner; Rahel Schneider is an associate partner in the Bay Area office; John Spivey is a partner in the Charlotte office; and Brian Vickery  is a partner in the Boston office.

The authors wish to thank Jonathan Christy, Louis Dufau, Vaibhav Gujral, Graham Healy-Day, Laura Johnson, Ryan Luby, Tripp Norton, Alastair Rami, Henri Torbey, and Alex Wolkomir for their contributions

The authors would also like to thank CEM Benchmarking and the StepStone Group for their partnership in this year's report.

This article was edited by Arshiya Khullar, an editor in the Gurugram office.

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