Background

• No previous private equity experience
  
• Maybe 1-3 years investment banking experience
  
• Probably pre MBA although may be recently qualified accountant 
  

Role

• Providing support to more experienced team members
  
• Financial modelling and analysis
  
• Market research
  
• Involved in some external meetings
  
• Post investment monitoring of management accounts 
  
• Challenging amount of responsibility
  

Career progression

• Generally about two years as an analyst before promotion to associate / investment manager
  

Associates / Investment Managers

Background

• Similar to analyst with an additional two to four years of relevant experience gained in a pe house, investment bank, transaction support team or consulting environment working on private equity or similar transactions. Can enter as an associate or be promoted from analyst to associate
  

Role

• Reviewing applications
  
• Running parts of the transaction
  
• Supporting the more experienced team members in negotiations and on execution
  
• Starting to take responsibility for negotiating banking arrangements
  
• Starting to build a contact network
  

Career progression

• Generally two to three years in this role before promotion to a VP / Assistant Director / Associate Director
  

VP / Associate Director / Assistant Director

Background

• Usually three to six years private equity investment experience before promotion to the level. Rarely recruited from outside private equity. May be recruited from another private equity firm
  

Role

• Starting to source and lead mid-market transactions, playing a significant role on larger transactions. Self-sufficient and require experience to get to Investment Director / Principal level 
  

Career progression

• Two to three years in this role before promotion to ID/Principal. Carried interest starts to ramp up
  

Investment Director / Principal

Background

• Minimum five to six years private equity experience. Always promoted from within or occasionally recruited from another private equity firm
  

Role

• Generally running deal teams, responsible for execution process, have decision-making responsibility and be one of the main points of contact externally for the business
  

Career progression

• May be at this level for some years. Minimum of two to three years to promotion to Director - depends on firm model
  

Partner / Director

Background

• Experienced private equity professional, near top of firm
  

Role

• Origination 
  
• Less hands-on involvement in transaction execution
  
• Board seats and post investment role 
  
• Strategic decisions about the firm
  
• Key role in fundraising
  

Career progression

• Increasing involvement in carry
  
• Management succession within the firm offering opportunities
  
• Heading international expansion within or outside of the firm