How to prep for PE interviews as a current senior

To prepare effectively for PE interviews as a senior with a FT offer at a Mid BB, here’s what the most helpful WSO content suggests:

1. Timing Your Preparation

• Focus on building strong relationships with your team during the first few months on the job. This will help you secure solid references when the time comes.
• Start prepping around February of your first year, or earlier if you feel uncomfortable with technicals or lack modeling experience in your group.

2. Technical Preparation

• Practice LBO modeling extensively. This is a core skill for PE interviews.
• Use guides and resources, but your best bet is to connect with departing second-year analysts who have been through the process. They can provide:
  • Guidance on expected questions.
  • Mock interviews.
  • Actual case studies from their interviews.

3. Behavioral and Fit Questions

• Refresh and polish your behavioral answers from IB recruiting. Be ready to speak in-depth about every word on your resume.
• Develop your “story” and lock down your reasons for pursuing PE. Be clear on why PE, why specific firms, and why specific cities.
• Practice answering standard questions like “Tell me about yourself” and explaining your work experience in a way that highlights your learnings and contributions.

4. Mock Interviews

• Conduct mock interviews with peers or mentors who have gone through the process. Objective feedback is crucial.
• If possible, network with PE professionals and ask for mock interviews or advice. This can also help you build relationships with firms.

5. Networking

• Networking can increase your odds of landing interviews. Speak with associates at target firms and maintain consistent follow-ups with contacts you meet during the process.
• Identify relevant headhunters and reach out to them early. Headhunters often play a critical role in sourcing interviews.

6. Developing an Investor Mindset

• Start thinking about deals from the buyer’s perspective. Ask senior bankers about the “why” behind deals and try to form your own investment theses.
• Read about recent deals, leverage, and EBITDA multiples to stay conversational about PE topics.

7. Case Studies

• Prepare for case studies by practicing with examples where assumptions aren’t provided. This will help you think critically and demonstrate your ability to analyze deals.

8. Balance Preparation and Rest

• While preparation is important, don’t overdo it. Success in PE often comes from EQ and stress management rather than sheer IQ or technical knowledge. Enjoy your time off and be ready to hit the ground running when the process begins.

By following these steps, you’ll be well-prepared for PE interviews while still enjoying your remaining free time.

Sources: Basic Questions About PE Recruiting Answered, https://www.wallstreetoasis.com/forum/private-equity/a-guide-on-how-to-navigate-on-cycle-pe-recruiting?customgpt=1, My Path - MBA Banking Associate to PE, Q&A: Career start and progression across IBD // Restructuring // PE special sits, Q&A: 2nd year BA/A/AC at MBB going to UMM/MF in 2020