Education · 1 of 4

The path

Almost nobody joins private equity straight from school. The usual way in is through investment banking on Bay Street or in New York.

1. 1

   Bachelor's degree

   4 years

   Commerce, finance or economics, ideally at a school Bay Street recruits from.

2. 2

   Investment banking analyst

   2 to 3 years

   You learn to value companies and run deals. This is the training private equity firms want.

3. 3

   Recruiting

   Weeks to months

   Canadian firms mostly hire when they need someone. US megafunds run a rushed on-cycle process for jobs up to 2 years away.

4. 4

   Associate

   2 to 3 years

   Two to three years building models, checking companies and supporting deals.

5. 5

   Senior associate and up, or an MBA (Master of Business Administration)

   2 or more years

   Some firms promote. Others expect an MBA before the next step.