PE - Recruiting with weak experience
Hi all. I will try to keep this short.
Basically, I was let go from an IB job at a EB / European BB. Luckily, they structured it so as to seem that it was mutual.
During my time there, I didn't get any live deal experience; things were slow (think interest rate hike period), and my only real experience was building sponsor pitches, pulling financial data, learning shortcuts, PP, excel data, etc / building tables.
My year prior, I was at a small boutique. There I got a lot of live deal work and modeling work, but small shop so no closed deals and the models were iffy at best.
The only LBO experience I have is 5-10 practice LBO's I did for recruiting last year.
Basically, 2 years of banking. Can't do an LBO fully, but understand it conceptually. I know modeling, I know how to use aggregators, etc. I am probably going to take the WSO LBO course.
My question is - what exactly is expected of me for a PE ass1 role? Considering I can't join on board immediately and start pumping out / leading model builds, am I even qualified? I ask my peers and they seem just as unqualified as me, but that's all anecdotal. How can I prepare myself better and am I falling behind?
Thank you, and sorry for any mistakes!
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