What to do - advice needed for incoming 27 associate
Hi there,
I’ll keep this post short. Current about one year in consulting at a T2 firm. Most of my day now is literally massaging ChatGPT. I don’t feel like I’m learning concrete or technical things besides just general industry knowledge from different cases I am staffed on (they’re short). I
I know this may sound arrogant, or maybe it’ll sound like I’m humble, I don’t really know. But take my words literally:
A private equity associate position basically fell into my lap and I accepted the role like 5 months ago to start in fall 2027. Aka I have one more year at the consulting firm. I did no private equity modeling prep, no industry prep, nothing. I somehow got the interview without even applying and got the role at a pretty decent rep UMM/MM firm. It’s also a sweatshop and does a lot of deals.
I feel entirely unprepared. I know I have a year but
My consulting hours aren’t very generous. I plan to take a month or so off in between to travel etc.
My main question is…what can I do an hour or two a week to even
Begin preparing? I never took an accounting course. I don’t know how to model. I don’t really even know what the associate position looks like. Where can I even begin? I know the basics of everything, basically, but just the serious bare bones basics. I couldn’t build any sort of model from scratch for 1mil or evaluate QofE. What can u do to start?
Please help. I don’t want to have even worse hours next year plus be super grind my JPM and Goldman start class plus be worried about being fired haha
Thanks!
To start preparing for your private equity associate role, here’s a structured plan based on the most helpful WSO content:
1. Build a Strong Foundation in Financial Modeling
2. Learn Accounting Basics
3. Understand the Role of a PE Associate
4. Develop Industry Knowledge
5. Prepare for Confirmatory Diligence
6. Leverage Your Consulting Background
7. Maximize Your Time Off
8. Focus on EQ and Stress Management
Suggested Weekly Breakdown (1-2 Hours/Week):
By following this plan, you’ll build the technical and industry knowledge needed to hit the ground running as a PE associate. Good luck!
Sources: From Private Equity Associate to VP in Private Equity, Preparing for Associate Role?, Q&A: Associate at MM Private Equity fund, https://www.wallstreetoasis.com/forum/private-equity/then-and-now-compbanker?customgpt=1
Bumping for visib
Take an additional month off and prepare. Work and study sucks and you have the flexibility to get intensive training through an intensive PE education program. Great looks if you show up prepared and a beast with Excel.
I heard how intense the pressure is. IB Analysts do modelling after work at 2AM to prepare for PE recruiting (not full-time role), so best you take the time and effort to be sharp.
Confused what to do here. My offer is contingent on me “finishing my two year program” but
1. I’m in consulting not IB so there’s no official program
2. I started in October 2025 so starting in Aug 2027 would only be 22 months roughly, if I took no time off. Obviously they should know that but seems weird
3. I want to take like 6 weeks off and quit like July or late June. Is this allowed / expected despite the above?
My friend at JPM going into PE told me I should be fine if I buy and complete the peak frameworks course so that’s what I’m doing right now, a few hours every week. Working thru the level 3 right now slowly. What else can I do? He told me some stuff I just have to learn on the job like EBITDA evaluation and add backs…. Thoughts?
I have a few questions, and sorry I’m using voice to talk so it might be weird grammatically.
I just looked at my offer letter again and it said it’s contingent on me finishing a two-year program. First of all, I started my role in October 2025 so if I started at the private equity firm in August 2027, I would only have about 20 months maybe 22 months of work experience. Literally impossible to reach those two years. ALS consulting doesn’t really have a two year program. Additionally, I was planning on taking six weeks off before the job to travel and ideally study a bit but now I’m worried that that’s not allowed. Is that contingency just a formality given that I won’t have two years anyway, still take those six weeks off ahead of time and quit and mid June? Hopefully, because I tend to do that. What is standard?
. Additionally, it looks like the MOD team deleted my comment because I mentioned another company’s course . I won’t do that again, but my friend at JP Morgan, who is joining private equity around the same time as me told me to buy the same course he trained on, so I did. It’s about 15 hours of video content and obviously a lot longer to complete the models and worksheets, experience. I was able to finish the level two LBO and I’m walking through level three right now which they say are stereotypical of more difficult MM interview LBOs. They also have level four in level five which I have not touched yet, but they say those are probably harder than would get in a middle market in your process. Obviously going to try to understand all levels by the time I reach my start date job. He told me that that course should set me up at least a baseline understanding and anything else that he does Like evaluating cash flow/EBITDA add backs at JPM i would have to learn on the job. Do you have any additional ideas of how I can prepare besides doing this course for a few hours a week? I want to gain some more context so I don’t get throwing the deep end as an associate.
Do two courses or more. It’s all about reps. You gotta be fast in Excel and PowerPoint. See how you can leverage AI in your modeling and presentations. Stay up late before traveling. The job will be expecting 70+ hours from you and there’s no better prep then getting into the groove with your current job and training. On your vacation, squeeze in some time to practice and maintain your rhythm.
On the 20 vs 24 months (2-yr program), talk to your recruiter and give your candidacy advocate a heads up. He might push you along to get an exception. You don’t know unless you ask.
Get a MBA to travel some time later if they say no.
You’re certainly starting from behind. You need to just suck it up and stay up late modeling, take some online courses. Plus on the staying up late side of things, it’s prep for what’s to come anyways. I’ve seen consulting kids come into our associate program and flame out quickly from the hours. You’ll do yourself a favor to know what it’s like functioning on low sleep.
To what degree? My friend at JPM going into PE told me doing the peak frameworks course would be enough and beyond that, like evaluating EBITDA quality / add backs, that can only be learned on the job. So I bought that course and am going to do a few hours every week. I can comfortably do their level 2 LBO already and was able to do the level 3 via template last night (obviously will work to do non template and keep going thru level 5 by my start date). What else can i do besides complete that course? It’s only 13 hours of video content (obviously longer to complete + documents to read). Do you have any specific suggestions
Seems like the team removed my because it mentioned another course besides WSO. Regardless, what I was trying to say is my friend Morgan, who is also going to private equity in 2027 told me that if I did this course which is about 13 hours of video content but obviously much more to complete that should be in a good place and that I would have to learn EBITA adjustments ETC. ON THE JOB. DO YOU THINK THAT’S ENOUGH? WHAT ELSE CAN I RELATE TO? IN THAT COURSE RIGHT NOW, I’M LEARNING LEVEL THREE LBOS AND DOING A FEW HOURS A WEEK.
Maybe overkill, but I also saw someone leave consulting early (with the consent of their future PE firm) to do IB for a year to get some more technicals. Could be best of both.
Otherwise, I’d recommend some Training the Street-esque courses or self-study.
I def can’t do that—wondering what else I can do. My friend at JPM my year going to PE told me I should be prepped if I finish the peak frameworks PE class. I bought it and am doing a few hours every week or that’s the plan. Can do their level 2 comfortably I think and working on level 3. He told me the ebitda add backs and everything else I’ll have to really learn on the job. Do you have any specific suggestions
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