The pathway
How you actually get there, here
How you become one varies far more by country than what one does. This is the UK route. Most people take one of these ways in; the right one depends on where you're starting from.
- 1
Corporate Development Associate
2-3 yearsSkills to master
- Flawless financial modelling, efficient due diligence support, strong presentation preparation, proactive target research.
You're ready to move on when
- Consistently delivering high-quality, accurate financial models without significant supervision.
- Successfully managing specific due diligence workstreams (e.g., financial, commercial) end-to-end.
- Proactively identifying and researching new potential acquisition targets.
- Receiving positive feedback from deal leads on your ability to anticipate needs and solve problems.
- 2
Investment Banking Associate (M&A)
2-4 years post-AnalystSkills to master
- Advanced valuation methodologies, deal execution process, client management, pitching new opportunities.
You're ready to move on when
- Leading significant sections of M&A transactions from pitch to close in an investment bank.
- Building complex LBO/DCF models and performing detailed valuation analyses independently.
- Experience in drafting CIMs, teasers, and other deal marketing materials.
- Demonstrated ability to manage junior bankers and coordinate deal processes.
- 3
Private Equity Associate
2-3 years post-AnalystSkills to master
- Deep commercial due diligence, LBO modelling, portfolio company analysis, investment committee presentations.
You're ready to move on when
- Significant experience in evaluating new investment opportunities and performing commercial due diligence.
- Strong LBO modelling capabilities and understanding of private equity investment theses.
- Experience in presenting investment recommendations to an investment committee.
- Ability to work independently and manage multiple projects simultaneously.