For all the former consultants that made it to PE or for people who recall their first months in IB, what resources (books, websites, podcasts, etc.) did you use to learn? Just started my role and feels like there is so much to learn from corporate finance, accounting, and just who all the deal players are... WFH doesn’t make it easier.
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As someone who made the same transition, my advice would be:
1) If you haven’t done it, WallStreetPrep programmes were a great start to understand a lot of the mechanisms in PE. If you have spare time, I would advise to take some time to go through the learning videos.
2) Gather excel models/IMs from your colleagues and really try to understand every row and how it is interlinked and why they are interlinked.
3) Perhaps an obvious one - but whenever you are in meetings/conversations and hear a new word that is unknown to you, write it down on a pad (there is a lot of lingo that tends to be unknown for consultants) and spend time on your spare time to look these up.
Starting this job remote at the beginning of the pandemic was probably the single shittiest experience of my life, so OP I feel you. I was absolute dog shit at it for so long because there was no look-over-my-shoulder modeling help. My #1 recommendation is when you are modeling, make a list of every single change you have made for your superior to review. Anything you are uncertain about, document your thought process. It will make life easier for you and your manager, so if you make a mistake, they will know you were thoughtful about it and it won't bite you in the ass later. If you do this, they won't actually mind mistakes since you're learning, but if they just find random mistakes that you didn't make note of, your life will suck.
I also recommend actually double checking your work cell by cell for the first 6 months. I thought I could get by without checking my work because I literally never had to in school or consulting, but even if you are off by like $0.3, that is still an error in the mind of the detail oriented PE robot. Whereas, in consulting, that's a rounding error, nobody gives a shit. That was the hardest mentality switch for me. The job is not about big picture, direction, right or wrong, it's about finding and accounting for every last dollar and cent.
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