Hi chaps,
Was just wondering how recruiters in London view a lack of modelling experience - is it an immediate write off for investment roles in PE / HF and if so is it worth switching to a team that does model?
Any insight would be much appreciated.
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You need to be able to model. Doesn't have to be wizardy but you should build this skillet.
Comps are minimal value for a PE or HF role. If the shops are half decent then they will test you in the process.
On a general note, you don't want to be in the industry with minimal technical skills as a foundation.
Assuming it's worth trying to change teams in that case
I'd agree with the comment above, but junior level roles at PE shops usually have relatively manageable LBO tests which you should be able to master using online resources and mock tests (paid or otherwise). I'd never encourage you to outright lie, but people generally get the joke that AN1 / 2 might have relatively limited modelling exposure, so don't sell yourself short. And I would rather invest your energy in mastering online models than switching team, which can be risky and time-consuming.
That said, if you're in a team like ECM / DCM / etc., then these are much less likely teams to make a move to the buyside. Even at face value, without actually testing your abilities, your CV is less likely to get attention. In that case, if buyside is your goal, I'd consider making that move.
You won't get into any reputable PE shop without having solid modelling intuition
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