WSO Weekly Wrap-up

August 30, 2025



Hey WSO Monkey,

Classic themes this week… PE career paths, trade-offs of chasing promotions, and a reality check on equity research, and more. A mix of war stories and career reflections.

-Patrick

Top Discussions

  1. AMA: Senior Analyst in a Top-Tier European Mid-Cap PE Fund - "3+ years of experience across Private Equity and M&A. Currently a Senior Analyst at a European Mid-Cap PE fund, working on buyout deals in Europe and the US. Previously worked in Large-Cap private equity in London. Earlier experience in investment banking at leading global firms, focused on M&A..."

  2. My Second Year as a Private Equity Associate in Large-Cap Private Equity - A Long Thread - "The real question is whether you are willing to dedicate two decades of your life (25 to 45) to your job. People who get promoted and become Partners at Mega-Funds sacrifice their lives to it. Be very aware of that before being jealous of their third house in The Hamptons. This is not to say that everyone in PE sacrifices their life to become a Partner. If you want to raise your own fund and swing big, best of luck. But if you want to guarantee financial success and become a Partner at a Mega-Fund, know what you are getting yourself into..."

  3. Why Are Equity Research People So Bad at Equity Research? - "In real world terms equity research serves three purposes, roughly in order of importance: to build relationships with managements who might use the advisory services of the publishing institution in a future transaction (translation: court potential sources of investment banking revenue); to provide investment/trading clients with information and opportunities to learn about and meet companies (translation: court sources of sales & trading revenue); and to provide fodder / support for RIAs and strategists making investment recommendations or decisions to clients (translation: support sources of wealth management revenue)..."

From Zero to Investment Hero: WSO Academy Weekend Bootcamps

Think you need months to master financial modeling, ace case interviews, or pitch like a pro? Think again. WSO Academy’s Live Bootcamps take you from a beginner to an expert in just a few hours, all guided by our seasoned finance mentors and held every weekend.

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Dive into topics that matter for your career:

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  • Case Interview: Master case analysis and delivery to blow away your interviewer.

  • Financial Modeling & Valuation: Your first-class ticket to “Master of the Universe” status.

  • IB Interview: Prep for every question, from technicals to behaviorals to outside of work.

  • PE Interview: Learn how to stand out in the ultra-competitive world of private equity.

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Top Discussions (contd.)

  1. Life Post PE - "In my opinion, PE teaches you nothing about owning or running a business. It teaches you however a very strong financial skillset and ability to analyze companies but that isn't that significant, at least at smaller companies who aren't interested or able to grow inorganically. The owner put it best when I started working with them, we don't have a bottom line problem, we have a top line problem. Margins are there we just need to grow..."

  2. Why Are IB Juniors Getting Way Fewer Deal Reps Nowadays? - "The junior bloat is definitely an issue, but the number of senior bankers has also increased significantly. Total deal flow is up slightly from pre-Covid levels, but the number of senior bankers chasing those deals (and fixed fee pool) has grown as well. This results in much more work for the junior pool, but not necessarily fee generating work. In the past, most juniors spent a significant amount of time and effort on actual live transactions, bake-offs, etc, and non-fee generating “discussion materials” etc were treated as a secondary workstream..."

  3. How Can a Finance Enthusiast (With Zero Experience and Slightly “Vintage”) Break Into Private Equity? - “I know you’re being very honest with me, and I appreciate that. What attracts me to PE is it is a captivating field that transforms businesses by ịnjecting capital and strategic expertise, unlocking their potential. It might turn struggling firms into thriving enterprises through innovation and efficiency. The most attracting thing is the ability to acquire or own businesses using leveraged buyouts, requiring minimal upfront capital. So I think it is an incredible idea, If I have to do grunt work but get to observe, learn, and be part of PE to experience firsthand how it really operates, then I think it’s still worth it."

New Podcasts Coming in Hot 🔥

  • University of Sydney to CLSA

  • Copenhagen Business School to PWC | Chat with Frederik Bang-Hansen | WSO Academy

Hot Jobs 💼

Experienced Analyst - "As an Investment Banking Analyst, you’ll work alongside senior-level management and play an integral role in supporting the full lifecycle of transactions. You will be challenged in a fast-paced environment by managing competing priorities and demonstrating initiative. Our culture is focused on creating “entrepreneurial bankers” and we strive to facilitate an environment that fosters professional and personal growth while leading with integrity..."

Finance Expert - "Mercor is hiring seasoned Finance professionals to join an exciting collaboration with a top AI research lab. The role involves contributing to the development and evaluation of advanced AI systems built to mimic real-world workflows across Investment Banking, Private Equity, Asset Management, and Equity Research. You'll help train, test, and calibrate AI agents on complex financial tasks derived from M&A, IPOs, debt offerings, equity research, pitchbook development, and more..."

General Finance Expert - "This role involves contributing to the development and evaluation of advanced AI systems designed to replicate real-world workflows across Financial Planning & Analysis (FP&A), Strategic Finance, Corporate Finance, Treasury, and Budgeting & Forecasting..."

Investment Services Expert - "This role involves contributing to the development and evaluation of advanced AI systems designed to replicate real-world workflows across investment banking, private equity, asset management, and equity research..."

WSO Mentor - "Are you an experienced professional with a background in investment banking, private equity, hedge funds, S&T, venture capital, asset management, equity research, quant finance, corporate dev, real estate finance, or top-tier consulting? Passionate about mentoring the next generation of leaders? Wall Street Oasis (WSO) is expanding its Mentorship Program, and we're looking for outstanding professionals to join our mentor roster—an elite network supporting students and young professionals as they prepare for high-stakes careers. Whether you’re looking to give back, stay connected to rising talent, or sharpen your coaching skills, this role offers you the chance to make a meaningful impact, remotely and on your schedule..."

Equity Research Analyst - "Buy-side research analyst opportunity with a family office. The analyst will work with the direct investment team and report to the Portfolio Manager. The team employs a fundamentally driven investment process and an owner’s mentality...."

Research Associate (Equity Small Mid Cap) - New York, NY - "This position will support the Small/Mid-Cap Equity research team and initially be responsible for covering multiple sectors in support of current team members."

On Deck - Training 🎓

All in Eastern Standard Time

Stay Strong,
Patrick Curtis
CEO and Founder, WallStreetOasis.com

WSO Mobile App: iOS | Android

PS - We're also always looking to add resume reviewers and WSO Mentors to our team. Set your own pay (from $40/hr to up to $400/hr) to increase or decrease mentee flow. To submit an application, go here.

PPS - Think you have an interesting story? Want to share it with our podcast listeners? Hit reply and let me know!




* PE Interview Bootcamp includes lifetime access to the PE Interview Course
** FMV Bootcamp includes lifetime access to the Elite Modeling Package
*** IB Interview Bootcamp includes lifetime access to the IB Interview Course