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When is it too late to join PE from banking?
While it seems the “traditional” path to PE is after 2 years of banking I am wondering what does it look like for those who want to join a PE shop after 4 or 6 years in banking. Is that unheard of? when do the devil’s shackles of IB become permanent haha? cheers lads 🫡
MF PE in Paris
Anyone has insight on large PE firms in Paris such KKR, Carlyle, CVC..? What is their team size, compensation, working hours..
Lateraling After First Year As PE Associate
Hey Fellow Monkeys, I'm currently an investment banking associate (A2A) who's looking to make the transition to private equity. I currently have an offer from a MM fund who's location / strategy / compensation is less than ideal, however, it presents an opportunity to break into private equity....
Help needed to decide on fund
Updated I have a few offers for Associate role. Need to decide by EOD tomorrow. 1) a H&F / CD&R like MM with $5-7B AUM -- culture is intense, shop is growing fast as a result of strong returns, path to SA/VP promo 2) a consultant friendly offshoot (think Bain Cap) with 2-4B AUM -- AUM is growing but...
CFA Level 1 alongside Masters. Doable or too difficult?
Hey guys, I am starting my MSc Economics & Finance masters degree this September and have also been thinking about pursuing the CFA Level 1 qualification in the upcoming year as I am interested in investments and I believe it would be something that would further help me stand out when I look for...
Struggling on how to Approach FT 24 Analyst Recruiting
Hi everyone, wanted to see if anyone might have advice related to approaching FT '24 recruiting. I am going into my fourth year of university with a near 4.0 GPA at a target school (completing a 3+1 Bachelors/Masters not in finance but in a finance adjacent field). I interned this last summer for a...
MF PE to Law School?
Saw an associate on the investment team recently made this move. Ivy undergraduate, started their career at a BB IB, then MF PE (think BX, KKR, APO, and so forth), and now attending a T3 law school (Yale, Stanford, Harvard). Stand-alone JD program, no JD/MBA. It made me ponder what would be a good...
Partners Group Analyst Program Info (2024)
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Joining a New PE Fund
Hi everyone, I'm currently a Senior Associate at a global PE fund and I was invited by some very senior PE professionals to be part of a new PE fund that they are creating from scratch. They are very experienced and qualified and, talking to people that worked with them in the past, they seem like...
How does U/W fee rebate work?
Hi, I was hoping to understand the mechanics of the underwriting fee rebate in the Levfin space. Just wanted to know why this exists and how it's calculated - thanks!
My (successful) experience with on-cycle this year
Hey everyone, slow night here so I thought I’d take the time to share a fairly detailed account of my experience with on-cycle PE recruiting a few weeks ago, during which I was fortunate to secure a seat at one of my target funds as a 2025 associate. Hopefully this can serve as a helpful narrative...
Psychopaths in PE
Studies suggest that while ~1% of people are psychopaths, as much as 4% of CEOs are. IBD/PE are the bosses that sit above the CEOs and make the even harder calls. As such, it would stand to reason the prevalence on Wall Street is even higher. What do you guys think the prevalence is in IBD/PE? 10%?...
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GS Credit Risk VP Role?
I just saw a posting for a CR role at GS which I usually do not see. This Job is in NY and underwrites deals brought in by the IB. I thought traditional banks were the ones that has these type of credit risk underwriter roles but it makes sense since someone has to UW industrials, leveraged Finance...
Help -- Should I Take This VC Internship If My Final Goal Is IB?
Hi everyone, I am currently a rising sophomore (with a diversity background) at a U.S. T30 non-target school hoping to break it into investment banking. In my freshman summer, I remotely interned at a U.S. search fund and a marketing consulting firm with the hope that the prior will help me find a...
[Rising sophomore seeking advice] Should I take this VC internship if my final goal is IB?
Hi everyone, I am currently a rising sophomore (with a diversity background) at a U.S. T30 non-target school hoping to break it into investment banking. In my freshman summer, I remotely interned at a U.S. search fund and a marketing consulting firm with the hope that the prior will help me find a...
ER or IB/PE for activist fund?
I want to go to an activist fund eventually but I'm not sure which of the 2 paths would be best. I like the work of ER more, but if that won't lead to a job in an activist fund then I'd rather do IB/PE. Any alternative insight is very welcome. Thanks all
MSc Economics & Finance King's College (KCL) VS Bristol
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LMM Investment Banking vs. Strategic Finance at a Top 10 Firm
I currently have two job offers and would like to hear some opinions on my options. Offer 1: LMM boutique investment bank (generalist) in the greater Richmond, VA area for an experienced analyst role Base: $70k + $50-$70k bonus Offer 2: Strategic Finance Lead at a top 10 investment management firm...
2025 PE Recruiting (Post On-Cycle)
Just wanted to make a thread here for 2025 PE Recruiting, post on-cycle madness. Given how ridiculously early the on-cycle weekend was this year, I'd wager that the percentage of us that didn't do on-cycle is much higher this year compared to the past. I could be wrong, just making an assumption...
Should I switch firm/industry?
I've been working at a Family Office/PE firm for about a year and a half focused on life sciences buyout. Most people are lots of fun and hours and comp are great. I'm not sure how great investors the partners are though or whether I fit in with culture where people focus on selling narrative vs...
Advice for Transitioning Military Officer Starting IB in March or April
I'm an officer, who will be getting out in March. Looking for some IB advice. My concern is that getting hired in IB at a BB in March may be hard to do. Hiring classes are pretty structured. I suppose I'll apply for analyst roles, which may be a bit strange since I'll be older than everyone else. I...
cash free debt free basis? who pays off pre-transaction debt?
hello team. i am confusing myself badly and would appreciate your help here. example: Buyer offers seller $1B TEV, cash-free debt-free basis. Seller has $200M of existing debt on the business and $100M in cash. So prior to or at close, seller uses the $100M of cash to pay down debt to now $100M. but...
My Journey Into Equity Research.....
Here is my current journey and how I am trying to get into equity research. This is my story, and I hope to give peace of mind to others. We are all going through the same thing and ultimately may be an outlet to share your stories as well. My College/Internship Experience So let's begin... I did...
Is it plausible for me to get into PE
I graduated from a top University with a comms degree, fell into a PR role where my clients are private equity firms. The client work really peaked my interest in PE. Now I’m thinking of getting my MBA to attempt to break into PE. Is it plausible for me to break in with a MBA from a top 20...
Lateraling as PE Associate
I'm at the end my first year at a PE shop. I've made the decision to lateral due multiple factors including 1) culture / fit 2) firm's strategy isn't what I'm interested in / looking for my own career 3) dry deal flow / minimal learning opptys I've been through PE on-cycle and was wondering 1) is...
Blackstone 2024 SA - First Round GMAT Based Math Test Questions
I just received an invitation for first-round interviews for a Blackstone Internship. Along with the interviews, they told me there is a GMAT based Math Test: "During the math test, you will be connected to a member of the team via Zoom. The test will be conducted in a group format, we ask that you...
PE Associate Looking to Lateral
I'm at the end my first year at a PE shop. I've made the decision to lateral due multiple factors including 1) culture / fit 2) firm's strategy isn't what I'm interested in / looking for my own career 3) dry deal flow / minimal learning opptys I've been through PE on-cycle and was wondering 1) is...
London Associate & VP Infrastructure Private Equity Compensation/Salary?
What is the normal compensation/salary range for an associate and VP working at a private equity that invests in infrastructure. One firm I'm looking at has AUM at 2B and the other has AUM at 10B. Would love some insight for both positions across the different PE sizes. If I am lucky enough to get a...
PE Salaries in France
What are private equity analyst and associate salaries like (base and bonus) in Paris? I couldn't find much info on this. Thanks!
Getting into PE from Oil and Gas Company (varied experience)?
Hello folks, New to this part of the world (kind of). I have an increasing interest in PE, not for financial reasons (a little bit I suppose), but I find the work really interesting and would prefer to work in a more nimble fast paced environment as opposed to a slow lumbering oil and gas...
To take or not to take - Family Office PE exit
As the title suggests, I'm currently PE Associate at a small growth buyout fund. Opportunity to go to a SFO has come up where there's only a couple of people but expected to grow in the future (think $400-500M and growing) and doing a solid mix of fund and co-investment with some direct VC deals....
PE OFF-CYCLE 2025 MEGATHREAD
As we look to the off-cycle, it seems that there are more spots than ever still available. To my knowledge, the only firms that are completely or mostly filled are Apollo, KKR, CD&R, and Apax. If you guys know of any others please let us know. Let this be a thread to track off-cycle processes and...
Business Development Role/Transition - Advice
Hey everyone, I'm looking for some advice on a PE-related career move. Right now, I'm working in a general marketing/comm role at a LMM PE firm, but am being moved into more of a marketing/business development position, as the firm thinks I will have more value in BD. I don't come from a typical...
Am I completely screwed?
I am currently going into my junior year at a decent IB recruiting school. I went through IB recruiting over the last semester and am almost through summer still without an offer. My question is, am I completely screwed for a decent finance internship? Ideally I would do REIB, but of course would...
Advice In search of IB Analyst Role
Hi all, I've been on the search for a role within IB for a bit over a year now - I know... not exactly the most attractive time to crack the industry. But this is something I've been interested in for quite some time and finally have the opportunity to follow my passion. I come from a background...
Intern at FoF - Looking to switch to buyout PE
Hello y'all This summer, I was an intern at a private equity fund of funds. We do primary, secondary, and co-investments. This is my only internship experience, as I am graduating college early, and I did receive the return offer. I feel like this is a pretty good gig - ~$100k salary, 40-55 hours a...
Blackstone PE Summer Intern 2024 Pymetrics Interview (Hirevue) Info
I need to complete their pre-recorded interview this weekend. Has anyone taken the Blackstone Pymetrics Interview before that could share how was it/what to expect? Would be very useful, thanks.
2024 Glendower Graduate Analyst Program
Hi everyone, I just applied for Glendower's 2024 US FT analyst class and saw that apps opened last week on Handshake. Just wanted to start this thread to see how recruitment goes this year. Does anyone have insight into the interview process?
Is on-cycle PE recruiting worth it this early?
On-cycle PE starts td/tm. Will I miss out if I hold out for off-cycle? Don't think I'm ready to interview yet Mod alert: We have announced a PE Interview boot camp for July 21, 2023. Check it out here: https://www.wallstreetoasis.com/courses/live-trai… . Happy recruiting! Edit: The Bootcamp is...
MBB to PE - How to navigate prep, timeline, HHs?
I've seen several posts that cover moving from MBB to PE, but many are very general or outdated. Hoping to get some insight/advice from people who have gone through the process (preferably somewhat recently). I am an incoming BA/AC/A campus hire starting work this summer. I just got my first HH...
Possible to transition from Big 4 Transaction Advisory / Valuation to Private Equity?
I want to make the jump from a Big 4 Transaction Advisory FDD / Valuation staff to private equity analyst/associate because I feel passionate about the industry. If I've excelled in this role and also have meaningful PE deals to talk about on my resume, is this a realistic jump? And if not, what...
Pomona Capital 2023 Thoughts?
Secondaries has obviously been creeping up in popularity, and Pomona seems to come up every now and again whenever I do research. Any insight on their current comp progression/culture/deal flow?
Lower Middle Market Private Equity is Paradise
You work at a generalist lower MM PE fund. Inbound books are down 40% YoY and your fund has yet to seriously chase a platform this year, which isn’t great for your long-term prospects or your resume. Finally, your non-finance BD person shoots over a book for a $5mm EBITDA subscription model...
Health problems during recruiting? Take a Hiatus? Help
Should I tell my recruiter I am considering taking a few week sabbatical to recover from a health condition before I continue recruiting? For context I just rolled of of my investment bank as they are not doing particularly well. The fact that I was sick with this same thing last year also likely...
How to deal with assets held for sale when calculating TEV in an LBO
Hi there, I have come across an LBO case study where there is approx. $1,000M of assets held for sale on the balance sheet and approx. ~$300M of liabilities associated with those assets held for sale. When calculating TEV at Entry, which would be a better approach and why: 1) Keeping the assets held...
Tech PE on the East Coast
Curious as to what the tech PE scene is like in NY/elsewhere on the East Coast. I know most top funds are in SF or elsewhere (TB in SF and MIA, Vista in Austin). Are there many top-performing tech-focused funds in NY? What about "generalist" or "multi-sector" funds that allow associates to...
Worth finishing the CFA? one level to go....
PE Associate (1 year into 2 year program), who did Levels 1 & 2 before breaking into PE. Worth taking Level 3 purely for the prestige of the designation? For context I don't have BB banking on my resume and don't plan to get an MBA due to cost. I know the syllabus content won't be useful but being 1...
Private Equity Analyst - Lateral Exit Timeline & Opportunities
Hi everyone, I am wondering what a realistic timeline is regarding an exit as a PE analyst who joined a fund straight out of uni. I am planning to stay within the PE industry. Do you typically stay 2 years or mostly a bit more or even less? What do you guys think? Background: I completed a master's...
Capital Markets to PE
How easy/hard is it to lateral from capital markets to PE? Assuming you work in capital markets at a BB or EB?
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