UPE Analyst Programs

So supposedly becoming a MF pe analyst out of undergrad is actually becoming more common across funds. I was wondering, what is the difference in daily responsibilities for a PE analyst out of undergrad and an ib analyst? I get a PE associate, but coming in without experience and as an analyst what is your role like? Also, can you exit from pe analyst to business school? And would these programs maker it easier to exit to a HF than traditional ib programs?

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