Advice for IB Analyst II heading into PE?
WSO community - I am currently a 2nd year analyst at MM bank that recently accepted an offer to start at a PE fund this coming summer. While I am very excited to make this move, I am a bit worried about the transition / shift in responsibilities from an IB analyst to a PE associate.
I believe I have gotten solid experience as I've worked on a number of sellside transactions, but I also recognize that as a PE associate I will be asked to take more of an initiative in due diligence, analysis, etc. rather than simply turning comments or creating the graph that my my Associate/VP/Director wants on the page.
For those of you that have already made the jump from IB to PE, is there anything you did in the months leading up to your start date that helped facilitate your transition? Did you spend time on the weekends bolstering your modeling skills? Did you begin viewing transactions through a different lens (that of an investor instead of a banker)? How did you stay focused on your current IB role knowing you were leaving in a few months anyways? Any help or guidance is much appreciated.
Following
When you realize you are actually accountable for materials and errors and you hold the pen whether you're ready or not reminds us we're all just guys in t shirts making this shit up as we go. best of luck
Bump
As someone who did this exact transition a few summers ago, there’s honestly not a whole lot you really need to do to prepare for PE.
My advice would be to continue excelling at your banking gig, hopefully you’ll get another transaction under your belt. Actively try to visualize how you might be viewing your deals / CIMs / modeling from a PE associate’s seat.
Otherwise, just fucking mail it in, enjoy the relief of having an offer secured. Once you wrap banking, do something you’ve always wanted to do during your garden leave, go to Bali, run a marathon, date a few people, etc. Enjoy having money in your 20’s with limited responsibilities and recharge your mind and body.
Mentally prepare the week before your new gig and then grind up the learning curve. No one expects much from you on day-1. You’ll learn fast and much more efficiently on the job, you’ll be so much more interested and engaged than in IB. Please do not spend your banking weekends doing extra modeling, such a waste of time IMVHO
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