On-cycle what do you need
What do you NEED to have for on-cycle interviews? For example, if you don’t have it you should hold out, etc.
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- Updated resume in a PE-recruiting format
- basic idea of where you want to work and why
- 3- statement paper LBO given a few basic assumptions incl. ability to quickly approximate IRR
- Blank sheet Excel LBO, you should preferably know how to layer in complex items such as different tranches of debt, subdebt, add-on acquisitions, etc.
- Ability to talk about something you did at work (e.g. whatever work you've done so far or as an intern)
- All technical questions (e.g. accounting) you prepped for IB are fair game
- Keep up to date on recent deals, business news, etc.
- Have some idea of the kind of work the fund you are interviewing for does and what differentiates them, if you have time
Most important thing on this list is knowing what you want. You (generally) can’t go back on an offer, so make sure you’re positive about what you want to do 2 years from now before starting interviewing.
I know too many analysts that take offers at funds they don’t actually want (strategy, size, geography, etc) and come to regret it. It’s a big decision and you need to be sure what you want before you get an exploding offer at 3am.
what happens if you renege, out of curiosity?
What about LBO pitch and portco knowledge of firm? Necessary?
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