How hard is the transition from banking to PE
Am a first year analyst at a group with very little deal flow, but somehow managed to land a MF offer during on cycle (likely due to the fact that deal experience was weighted less given most folks have been on the desk for 7 months or so). I obviously took it, but now am concerned about my ability to hit the ground running when I start next summer, especially compared to the other associates in my class (will be coming from your typical top groups). Any other folks dealt with this at their group? There's additionally some MD level turnover in my group plus slowdown in M&A in general means it remains likely that we will still be pitching quite a bit through my stint.
How hard is the transition from banking to PE? Not expecting hand holding by any means but are you expected to plug in and perform high quality work on model, 3rd party workstreams, memo writing from the outset? Or is the transition different enough that all associates are on the same footing on day 1?
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Not really sure how you got the impression that OP is doubting his/her self "so much." Seems like a fair question. It's not like most PE ASOs make it far.
bump
While it’s a tough transition by any measure, the good news is that expectations for new associates are very low. So as long as you don’t fuck things up royally you will be just fine
There is a guy at a secondaries fund in Toronto that came from commercial banking. He kind of sucks so there ya go.
How did you land a MF offer
Don't you know that most PE recruiting is usually a brand name game
You are expected to be pretty bad for 6 months. If you can build a clean well organized lbo model with few or no mistakes and clean output presentations, you're far ahead of most.
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