How to Prep for PE Summer Analyst Intern Recruiting?
Hey all, I'm a rising sophomore at a semi-target, doing a PE internship rn yada yada... I'm much more interested in doing a PE role full time than IB, but am struggling to find much info about how I should go about prepping.
What differences between PE & IB can I expect in an interview? Should I prep on-cycle PE recruiting stuff? I don't really want to "waste" networking calls on asking abt this stuff when I could be doing other things to make a better connection. Thanks!
Be solid on banking technicals + some LBO stuff as well (I didn't get paper LBO but better be prepared)
Know a firm's investment thesis and what differentiate its strategy/investments. They will definitely ask you what is a portfolio company that stands out to you, and this is helpful to bring up in networking calls
Obviously have a why PE answer that are tied to your experiences
(Incoming 2025 PE SA)
I don't want to burst your bubble, but getting an SA role at a reputable PE firm, whether it be MF or UMM, is close to impossible unless you're at a mid to top target school (you also have to have very strong internships, near perfect gpa, club leadership, etc). It's best to focus your effort on securing a good IB SA, then trying to recruit for PE full time instead of prepping for both IB and PE SA roles when you likely don't have a chance at a PE SA.
Also, I think you have the wrong idea of on cycle unless I misunderstood. On cycle occurs for incoming full time IB analysts (graduated seniors) and you don't have to worry about it until after you junior summer SA.
Appreciate the advice, many people from my school have broken into top MF analyst programs, however all of them have already graduated. Like I stated earlier, don't want to be using valuable networking time with them asking about how to prep for the interview when I should be focusing on talking about things that would lead to getting a referral with them.
To clarify what I was saying about on-cycle, I was curious as to whether or not the analyst interview questions would be similar to on cycle recruiting questions.
If people from your school have broken into MF PE out of undergrad, then it may be doable (unless they're diversity / nepo and you have neither). However, as someone who made the same mistake, I would recommend not focusing too much on the moonshot opportunities and instead putting most of your effort towards IB recruiting to 'lock down' an offer.
For the on cycle part - it varies firm to firm, but PE SA interviews are generally easier.
Just out of curiosity, what kind of school are you at, or what school do you go to if you don't mind sharing?
Appreciate the advice, definitely going to focus more on IB like you said. I go to a US News T10 but not particularly known for finance. However, very strong alumni connections within the investment club/ ppl on the street.
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