Prep materials for PE

I am an incoming MBB entry level and have been reading about PE prep/reading the on cycle 2023 threads, and was wondering what the best materials are to prep for PE technicals/modelling tests. Obviously consultants don’t do a lot of financial modelling, so want to make sure I am as good as I can be. 

thanks! 

42 Comments
 

I used peak frameworks this year. Split with another analyst so was like 200 and was super helpful. I’m in a group that doesn’t model much and had no issues for on cycle modeling tests.

You can probably get by with scrounging around for old tests online without spending money, but personally liked the ease of just using the peak frameworks materials and their guides/videos are really good too

 

Analyst 1 in IB-M&A

I used peak frameworks this year. Split with another analyst so was like 200 and was super helpful. I'm in a group that doesn't model much and had no issues for on cycle modeling tests.

You can probably get by with scrounging around for old tests online without spending money, but personally liked the ease of just using the peak frameworks materials and their guides/videos are really good too

I have materials for PE from good websites, but wanted to do PeakFrameworks, if we could exchange?

 

hey, would you mind sharing the materials you found from good websites? Thanks! 

 
Most Helpful

The 3 things I used to prep were

1) "Version 1" LBO that's been floating around banking analysts for the last 10 years

2) Lv 3-5 of Peak Frameworks

3) https://www.wallstreetprep.com/knowledge/advanced-lbo-modeling-test-4-h…

Doing those a few times each from scratch (full 3 statements) will set you up well, total of 20-30 hours of prep. They cover all the bells and whistles my friends and I encountered in UMM/MF interviews, including FF, OID, add-on acquisitions, various sensitivities, IS projection assumptions, PIK debt, mandatory/optional cash sweep, management rollover, management promote, dividend recap, etc. 

 
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Peak frameworks is very solid. It's also helpful just to take a step back and think about the broader fundamentals of an LBO so that modeling is more of just an intuitive way to show the deal, rather than just cranking out memorized templates. These two links give some helpful walkthroughs, and the lbo section from Rosenbaum and Pearl book is very good too 

(Note that Macabus models are overkill with being a little too complex, but are still helpful to broadly understand)

https://macabacus.com/lbo-model/introduction 

https://mergersandinquisitions.com/lbo-modeling-test/

 

Youll get real on the job experience. dont spend too much time prepping in advance or youll risk burning out

You got the job, enjoy the time off!

 

ahh misread! i would say just google "lbo modeling test" and watch some detailed youtube videos from wall street prep. i wouldnt spend thousands on courses that will ultimately show you the same content. get training the street's course (its less than $200 i think) and definitely worth. learn basic excel shortcuts (with macabacus). other than that dont over stress. as i say were not saving lives :) its important work but no need to spend every spare minute studying esp if you dont know what you might get for an interview case study. 

When i helped with interviews we were well aware that consultants dont have the same technical background (and most firms either train you or you can reference old models on their drive in the early days) so we really looked for intellectual curiosity, culture add, and signs that you did your basic research on the firm / industry 

all the best!

 

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