What is the career path and promotions like at Canadian PE firms?

How does the career path work for Canadian PE firms? In the US you go for 2 years then an MBA and then afterward you decide where you want to continue.

1: Though I've heard a few times that most Canadians don't need to get MBAs and it's rare to see them as most of the time they aren't necessary. Does the senior associate not exist in Canada?

2: How does the promotion timeline generally work at Canadian PE firms (Onex, Birch Hill, Arc, etc) and at Pensions, how long does it take to move up from associate to VP to Principal to Partner, etc?

3: Since in IB many people get stuck at VP level and pushed out is PE a good alternative to get to a senior level in a firm or is it the same as IB where most people stall at certain levels and get pushed out? Is up or out as enforced as in IB even at the smaller Canadian PE funds? Generally, is PE or IB better for a long-term career path where you can keep moving up without as much worry about being pushed out?

Thanks

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Apr 25, 2018