How have higher interest rates affected your work in direct lending and acquisition financing specially in regards to PE M&A

I know it increases cost of capital and the technical stuff but I'm asking for specific examples of the impact on actual deals you've been on and the work you have been doing recently. Is it more competitive or easier now to pick lenders for your cap table? Is the focus on pricing or are there other facets that determine if a sponsor goes with certain lenders? For folks on the direct lending / private credit side - how has your job changed from 12 months ago? How would you describe the current credit cycle? More PM work because there are more distressed portfolio companies? Or more aggressive selling because returns are higher? I'm Interviewing for a credit analyst role at a direct lender and I don't really know what the lending environment is like right now? I'm trying to get myself into the mindset of the interviewers so I can prepare accordingly. Thanks

2 Comments
 
Most Helpful

Harum dolores illum impedit doloribus iusto. Illum dolores libero et ut nisi. Qui laudantium eum ut. Qui modi unde inventore nam veritatis harum. Repellendus ducimus non quae quisquam aut ullam laboriosam. Provident aut ut occaecati et est molestiae ut soluta. Non id et amet.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 02 98.8%
  • Evercore 01 98.3%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.3%
  • JPMorgan No 97.7%
  • Goldman Sachs 02 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (44) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (79) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”