How Many Advance to the Case Study Round? (PE Associate Recruiting)
Hello All,
Was curious if anyone had any insight/estimates/experiences regarding how many candidates PE funds generally advance to the case study round (model + investment memo) in the PE Associate recruiting process (for both analysts in banking and lateral PE associates) assuming the case study is the third round interview before a confirmatory fourth-round discussion before an offer goes out. There doesn't seem to be many data points on this, so appreciate any advice!
When I recruited out of IB, I did 3 case studies, in one case I was in more of a rolling process so it was just me more or less in that batch (case study and debrief being the second round and precursor to on-site), one other time where it was clear 5+ people had done the case study (case study and debrief again being the second round before an on-site), and my third process was the same as my second process. More or less to say, I've never done a case study as the third round and so am curious about any datapoints regarding it.
Thanks in advance!
The fund I'm at had the case study as the third round and there were 30 to 40 people still left. I was told the pool was cut down to ~10 people for the super day, which came shortly after. This was for off-cycle with only a couple of seats available.
Wow so in this case at least 30-40 did a case study?! I'm guessing this was more of a timed test than say a week long take home? It seems like a ton of work to have to go through that many case studies, especially if someone is presenting them
It was take-home and timed. 3 hours with a 30 minute debrief at the end of 3 hours. I also thought it was a bit ridiculous to not narrow the candidate pool more. It was a massive chunk of time out of the investment team's week.
Our fund has case study right after first round - at that stage, it’s really you vs yourself. 1st round clears basic culture requirements. We’ll do mds after that
Thanks for the datapoint, what is mds? Any idea how many from the 1st round go to the case study round? Im assuming the majority
We're actually currently running off-cycle hiring (UMM) 4 rounds total (1st round, 2nd round, case study, superday) for 1 spot and currently at the case study stage.
1st round: ~65 individuals
2nd round: ~45 individuals
Case study: ~25 individuals
Will probably take 8-10 to final round (though that # is still tentative)
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