All about private equity????

Hey guys.

I've been doing tons of research into private equity and I can't seem to find much information on it. I was wondering about these questions:

1) How is job security in private equity? For example, do many people lose jobs in a recession.

2) How hard is it to move up the hierarchy to a position such as VP? How many years? (This is after 2 years in IB)

3) What is the pay like? How much do get paid at the a) associate level, b) higher levels?

4) How is the lifestyle compared to IB and how is the lifestyle in general, like the hours?

5) How is private equity in Canada? Is the pay similar to here in the US? Is this lifestyle similar? Is there more job security?

Thanks so much for your replies in advance.

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