#Life As a Private Equity Associate

Responsibilities:

-         Evaluating new investment ideas vs. portfolio company tasks

-         Common tasks: Modelling, investment memos & IC exhibits, due diligence calls

-         Perform valuation analysis of potential targets

-         Execute transactions (add-ons, sale, IPOs, recaps)

-         Coordinate with portfolio company management, bankers, lawyers

Lifestyle:

-         Depends heavily on the firm

-         More control over hours vs. investment banking / consulting

-         Travelling

-         Some formal lunches / dinners around transactions

-         Compensation

Entry:

-         Typically, at Associate Level after 2 years in investment banking, consulting, hedge fund

-         Ability to co-invest available at certain firms 

-         Carry unusual

-         Typically, 2-3 years program

-         Typically, path to MD takes up to 10 years (3 years to VP, 3-4 years to Principal, 3-4 years to MD)

Life After PE:

-         Business school (but in Europe less and less paid for by firms)

-         Lateral move to other PE shop, Hedge Fund

-         Corporate M&A

-         Entrepreneurship