Long story short - currently work MO at doing portfolio monitoring. Been interviewing for a PCA role (GPs). My modeling exp - is a bit poor. 2 Questions - do I make the jump to be FO in PCA and secondly how do I improve my modeling / what type of modeling do I need to know? Just DCF; precedents: trading comps or do I need to know how to build a waterfall and LBO?
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Jumping into a PCA role (GP-focused) from a middle-office portfolio monitoring position can be a great move to transition into a front-office role. However, the decision depends on your long-term career goals and your willingness to upskill quickly. Here's a breakdown:
1. Should You Make the Jump?
Cons: If your modeling skills are weak, you may face a steep learning curve. PCA roles often require strong technical skills, especially in financial modeling, to evaluate fund performance, secondary transactions, and portfolio analysis.
If you're committed to improving your technical skills and see this as a stepping stone to your desired career path, the jump is worth it.
2. How to Improve Your Modeling Skills?
Based on the most helpful WSO content, here’s what you need to focus on:
Core Modeling Skills:
Recommended Approach:
3. Next Steps:
By improving your technical skills and demonstrating your commitment to learning, you’ll not only excel in the PCA role but also position yourself for future opportunities in private equity or investment banking.
Sources: Can I become good at modeling?, Becoming a Principal, For those of you who worked at a BB that has a separate modeling group (M&A), do you feel like you gain less technical skills?, FP&A to Valuations -- skills needed?, PCA Fee Structure: GP vs LP led
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