Starting FT in a top group in July/August, but I graduated early in December and after two or so months of traveling, playing golf, getting hammered, and partying, I want to start getting into some prep work.
What is the best way to prep for On-Cycle recruiting? Still planning on partying and playing golf and maybe a bit of travel so would like some suggestions that I could work on for maybe 20-25 hours a week?
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On-Cycle has been pushed out so I wouldn't worry as much about doing on-cycle right when you start. But I would work through LBO's if you really wanna prep.
You've got time, it's not gonna be an October oncycle like it used to be - even 2023 oncycle is probably not earlier than late spring/early summer. I don't know how you could possibly prep for 20-25 hours a week for the next 5 months, maybe like 10 hours and you'd run out of useful work. Learning how to do a full blown LBO will help, but assuming you're a finance major and have some idea of how 3 statements work, this won't take you that long.
Do some LBO practice (paper LBO takes 15 min to learn, 3 statement you could do a handful of times and get it working), PE case studies (i.e. make a one pager recommendation off the LBO), PE interview prep. The best LBO resources will come from your group, so ask about where they are saved a few weeks into the job (firms reuse modeling tests). It's also important to get good staffings in your first 3-4 months so you have things to talk about.
Thanks for the advice, for PE interview prep would you recommend getting an online course or what do you think is the best way to prep for that?
Also agreed that you can only do so many LBO's, so will prob tone it down and do one or two here and there. Pretty comfortable with 3 statement modeling so LBO shouldn't be that hard to learn. As for modeling tests, would you recommend I ask an analyst friend now or do you think its too early and could come off weird?
Don't ask anyone now, solely because it's banned to send an Excel model or PDF outside of the firm, even if the content is unrelated to your group. Ask a few weeks after you hit the desk, when you have folder access. Just work on it when you have hours free on a late night or whatever. Don't go through all the content super early, save some practice items for right before oncycle.
I personally don't think the guides are worth it, just make a google doc with a running questions list, get some practice LBOs online and at work, and google/search on here for what you should be able to answer. If you want it all in an easy PDF, by all means, but they are kind of expensive for stuff you could ultimately dig up online. If you liked having a guide for IB, might be worth the money.
Most people interviewing for PE don't get stuck with building an LBO fyi - either they don't have enough deal experience (less likely with pushed timing for oncycle) or they didn't prep enough for questions / think about what types of firms they want. PE interviews are really not that hard, LBO is a check the box item and the rest are interview skills you will just need to brush up on and tailor a bit towards PE.
LOL, you're right, not gonna be october
Study for and take the GMAT
Already took it haha, planning on applying to HBS 2+2 and GSB Deferred.
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