Canadian Private Equity Career Progression

Hey all, I was wondering if you can shed some light on the career progression within a LMM/MM PE firm in Canada. I have heard that firms like Clairvest, TorQuest, and Birch Hill have a 2 year associate program where people usually go do an MBA after. My question goes two fold:

1. What do you do after the MBA and 2 year associate stint?

2. Say they hire you back as a VP, what is the progression from there? As in, how many years before you become principal, director, etc.