MBA Associate --> PE (levels?)

Hi, 

Studying at one of the top 2 EU MBA programs and joining IB upon graduation.

In London, it seems to be much more fluid in how people move from associate to PE, even as an MBA associate. I've seen people from my program go to top BB IB and on to a Megafund afterwards. Its rare though, most go to MM PE if they do make the switch. 

My question is - for those who move from IB to PE at the associate level, what level do you come in at? Say for someone who had two years at the associate level, would you start at PE associate level 3? Or does it reset and you come in at associate 1? 

Thanks very much, and appreciate anyone who can give a bit of insight on this. Any additional insight on the process as well would be very much appreciated. 

Cheers,

IB Lad