Incoming Lev Fin Analyst --> PE prep Questions

Hey guys, long time reader of the site and decided to make my first post. I am a senior at a semi-target in the southeast, and will be starting as a FT Analyst at a BB in NYC in Leveraged Finance. The Lev Fin group at this particular BB is one of the Lev Fin groups out there that is very modeling intensive and is not a Capital Markets Group like it is at some other BBs.

1) Those of you that went from BB banking to PE, how would you describe your interview experience and how did you prepare? WSO PE guide looks legit so I will probably be making that purchase soon. I have seen modeling test examples out there, however they are all extremely different from one another. There isn't much consistency from what I have seen, and it makes it more difficult to prepare. So how did you guys do it?

2) My prep focus has primarily been on LBO modeling since that is mainly what my group does, however I was wondering if PE interviews gauge technical skills on M&A modeling as well.

3) Would it be beneficial to reach out directly to headhunters? I am not saying I would do it this early, but I am just wondering if I should get on this shortly after I start.

4) The PE recruiting process seems to be earlier and earlier each year. Did you guys think that 6-months was enough time to learn and prepare for the process? Not just relative to PE recruiting, but did you think that you "mastered" your position within the first few months?

5) If you miss the boat on PE recruiting the first time around, can you still recruit in the same months but during your second year?

Lastly, if anyone has any sample PE modeling tests or something similar, please PM me as I would be interested in glancing through them.


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Comments (5)

Feb 19, 2015 - 10:46pm

I know the feeling. Everyone I know working FT IB or PE just tells me to enjoy college as much as possible while you still can. Took the advice to heart first semester, burning through most of what I made over the summer and my special incentive signing bonus. I highly suggest it if you haven't already, was the best semester I've ever had. Coming back to college after a summer in NY was like going south of the border, everything seemed so cheap in comparison to the $15 beers I had come accustomed to. $1 drink specials? $2 beers? I could get myself and half the bar drunk for what I would spend on a typical Saturday night over the summer. Visited friends at other colleges on weekends, sent gifts to family, etc. Net worth is back to pre-summer levels and I'm living off of what I make as a TA, but definitely worth it.

Anyway, enough reminiscing. I'm using my free time now to learn German, do community service, read and learn about subjects that interest me, and getting ready for IB. As far as PE recruiting goes, couldn't hurt to continue to do some networking with people in the field.

Feb 19, 2015 - 11:41pm

This is probably some of the most level headed and sensible advice I've seen on this website. If you are in a decent group you will learn just about everything you need to know for PE recruiting on the job (and you may discover you aren't even interested in PE *gasp*). Live it up any chance you get.

Feb 20, 2015 - 12:30am
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