IB & PE Interviews: The Trials by Fire and Water

So you have finally received that interview call from the PE firm in Mumbai. Great, congrats! But now you’re worried sick about what exactly they are going to grill you on. Will you be asked to pitch stocks or be required to build a full-blown DCF model in an hour?

Well, if you know what PE is, then you know you won’t be pitching stocks in the interview; but yeah, that DCF model with multiple scenarios is fair game. And now that I have successfully scared you about IB/PE interviews (if you still aren't scared, you should be – thinking back on my own interview experiences still gives me the chills), let’s talk about just what happens in IB & PE interviews. In Part II, we’ll see how we can come out of these grilling sessions alive and in one piece.

Like any other industry, there’s no fixed rule for the interview process. However, there are certain parts of the interview process that you will find in all IB and PE interviews. In keeping with the theme of the blog, this post will give you a true sneak-peak into the interview process at most firms.

Read on to know all about IB & PE Interviews: The Trials by Fire and Water.

Breaking In: From IT-support to PE Fund Manager

Wait, what? After all my raving on how it is near impossible to break into IB from back office financial analysis, now I’m talking about freaking IT support intern to Private Equity Fund Manager?

All right, calm down. You see, the key words in the above sentence are “near impossible”.  This is the story of a guy who made this seemingly impossible story turn true. He went from being an intern in IT-support to Investment Banking Analyst to where he is today – running his own PE fund.

Read on to find out if fairy tales exist in real life.

Private Equity: The Inside Story

In the previous post on Private Equity, I provided an overview of what the industry is all about. But for those interested in knowing the minutiae of how a PE firm operates, this post will satisfy their queries. It is a gloves off, no-holds-barred post which will tell you all about the internal workings of a Private Equity firm.

Fair warning: Hold on to your horses, folks. This one is gonna get technical. In case you do proceed, make sure to read to the end - that's where you'll find the best part.

Private Equity 101

Since the inception of this blog, I have been talking about Investment Banking. But what about the other areas of “high finance” – IB’s cousin Private Equity and the distant relative called Hedge Funds? So today, let’s go pay a visit to that rich cousin whom IB envies – PE.

This is the second post in Bateman Begins 101 Series and will introduce you to the little-known world of Private Equity. You can get the definition of PE from anywhere, but below you will find out what actually happens in PE, why it is considered to be “better” than IB and most importantly, why it is so bloody difficult to break in.

So without further ado, introducing Private Equity – the promised land. What even investment bankers dream of.

Life in IB: The best IB story I've ever read - From WSO

Came across this gem on WSO and just had to share it. It's written as a comment by one of the best posters on WSO and I wanted to share it here. It is without a doubt the among the most awesome IB stories I have ever read. Kudos to rufiolove!

Background: The original poster had posted some tips on how to get out of getting staffed on weekends. The relevant tip is below, followed by rufiolove's comment.

Caution: The language used below might not be suitable for sensitive readers.