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The Complete PE Recruiting Playbook

Navigate PE Associate Recruiting With Confidence

Get PE Associate Interview Ready with a veteran of UBS LA (now Moelis LA), Golden Gate Capital and HIG, who has led trainings at KKR, Carlyle, Sixth Street, and countless other top-tier firms.

Build world-class LBO skills to handle any model test. Cut through the noise to the 3 to 5 factors that compose a credible thesis.

See every deal like the partner who makes the hiring decision.




Mike Kimpel, Financeable founder, in a blue blazer
Mike Kimpel
Founder, Financeable • Ex-Columbia Business School Faculty
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Average PE Associate Total Comp. $300K–$350K
Hours of lessons 56+
Certifications 2
Practice questions 881
On this page
Student success The challenge Comparison
Comparison

How Financeable compares to legacy training

Feature
Financeable logo
The other guys
Learning method
Mental models
Interview prep
Teaching style
Visual concepts in motion
Dynamic frameworks for any problem
Embedded in the course
Real person on camera (Mike)
Static slides + audio voiceover
Memorize definitions + formulas
Separate guides
Audio voiceover on slides

And this is exactly why this works

Legacy Wall Street training firms will teach you the formulas. We teach you how to THINK like a PE partner.
Most courses walk through one clean, cash-free, debt-free deal. Our cases cover the structures real deals use: asset vs. stock deals, NOLs, seller notes, mezz, dividend recaps, take-privates and roll-ups.
With our mental maps, when you get a timed LBO test, you won’t just build it. You’ll rebuild the returns with MD math, explain every move left to right and defend your numbers.
Narrow any deal to 3-5 key drivers, build a value creation plan, and show exactly where your return comes from with an IRR bridge.
Go beyond the interview. Learn how associates run diligence and expert calls, tell the story of the numbers in an IC memo, and build visuals that get a deal through committee.
Light gray quotation mark opening a student testimonial
Working with Mike Kimpel/Financeable has been one of the best experiences I have had. His passion for helping me understand finance and willingness to chat whenever I needed help made him the best mentor I had to understand the opportunities within finance and investing (& more!).
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Samual S.
Summer Analyst
Certificate

Certificate of completion included

Financeable LBO Modeling certificate of completion

Why the certificates matter

Top private equity firms see hundreds of banking analysts with near-identical resumes. Your certificate signals:

Structured preparation

You invested in a thorough, practitioner-built curriculum, not random YouTube playlists.

Practitioner mentorship

Mike’s background across IB, PE, mutual funds, and hedge funds, and nine years at Columbia, backs your story.

Interview-ready commitment

Shows you’ve put in structured reps for associate interviews, from LBO model cases to investment discussions.

The math is simple

This might be the best investment you ever make.

PE Associate Year 1 Total Comp
$300K–$350K+
Investment
$925 one-time
ROI
350x in Year 1 alone
What’s Included

Everything you need to get interview ready

26 Lessons
PE Associate: Start Here

Your roadmap to landing a PE associate role. Mike walks you through on-cycle and off-cycle recruiting, working with headhunters, choosing target firms, and preparing for interviews through to managing offers.

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$125
(included)
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Learn More / Watch Preview Lesson
5+ Hours
46 Lessons
Business Mechanics

Master a simple, powerful framework to break down any company, determine its core drivers, and craft credible modeling assumptions. In just a few hours, gain the business judgment it usually takes 5-10 years to acquire on the job.

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Intermediate
$149
(included)
Learn More / Watch Preview Lesson
4+ Hours
35 Lessons
Financial Modeling

Master a ‘closed loop’ approach to Financial Modeling where every input flows logically through the Income Statement, Balance Sheet, and Cash Flow Statement. Nail down tricky concepts like working capital projections (e.g., DSO, DPO, etc.) so you understand the underlying intuition behind the model build instead of just memorizing keystrokes.

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Intermediate
$119
(included)
Learn More / Watch Preview Lesson
5+ Hours
33 Lessons
LBO Modeling

Learn the ins and outs of LBO model mechanics from transaction assumptions to returns analysis using visuals that break down the trickiest concepts: sources and uses, the pro forma balance sheet, and the debt waterfall. Gain a deep, intuitive understanding of how the model actually works, giving you a perspective that is simply not taught in traditional modeling courses.

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Intermediate
$119
(included)
Learn More / Watch Preview Lesson
16+ Hours
102 Lessons
Advanced LBO Modeling

50+ exercises covering every LBO variant from a 20-year career. Master every building block, from sources and uses, taxes and NOLs to management incentive plans and minimum equity structuring. Walk into any model test or deal ready for whatever they throw at you.

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$700
(included)
Learn More / Watch Preview Lesson
4+ Hours
39 Lessons
Private Equity In Real Life

Walk through a private equity deal from start to finish, the way it actually happens on the job. At every key decision point, see how both the buyer and the seller think, what each side is solving for, and what’s really being said between the lines. Show up on day one already reading deals like a seasoned pro.

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Beginner
$250
(included)
Learn More / Watch Preview Lesson
2+ Hours
21 Lessons
Buyside Mastery (1): Investing Process + Thesis

Most analysts get lost when they first dig into a company. Learn how to figure out which variables actually matter, and build a thesis you can defend in front of an investment committee.

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Intermediate
$150
(included)
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Learn More / Watch Preview Lesson
2+ Hours
15 Lessons
Buyside Mastery (2): Risk-Reward + VAR

A big upside number means little without the downside next to it. Learn how to weigh risk against reward for both public and private companies, plus how to set up expert calls and primary research that move your thesis forward.

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$150
(included)
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Learn More / Watch Preview Lesson
1+ Hours
9 Lessons
Buyside Mastery (3): The Story of the Numbers

Good pitches explain why the numbers move, not just where they land. Learn to break down how revenue flows to profit and how to communicate the major drivers along the way.

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$150
(included)
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Learn More / Watch Preview Lesson
3+ Hours
23 Lessons
Buyside Mastery (4): Ninja Tricks

The shortcuts you can use to sanity-check a valuation fast. You’ll learn what’s realistic for growth, margins, and returns, what drives a multiple, and how to back out the assumptions hiding behind a price.

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$150
(included)
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Learn More / Watch Preview Lesson
1+ Hours
12 Lessons
Buyside Mastery (5): Compelling Visuals

How to build the charts that show up in stock pitches and IC memos. Learn which tools to use, how to visually explain a business, and how to build earnings and IRR bridges.

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$150
(included)
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Learn More / Watch Preview Lesson
5+ Hours
11 Lessons
PE Associate: LBO Model Cases (10x)

Full-Stack LBO Prep Playbook: 10 cases from basic builds to roll-ups, dividend recaps, convertibles, and more. Master modeling and learn how senior PE professionals will evaluate your work.

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$600
(included)
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Learn More / Watch Preview Lesson
5+ Hours
33 Lessons
PE Associate: Interview Fine Tuning

Get clear, step-by-step frameworks for every paper LBO you’ll face, from basic to reverse to advanced, plus extra paper LBO practice. Sharpen your speed with a mental math framework that covers all the major operations. You’ll also learn how to tackle the four most common non-model cases in PE interviews.

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$275
(included)
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Learn More / Watch Preview Lesson
PLUS: You Also Get
/ Blockchain Verified Certificate of Completion (add to LinkedIn)
/ Lifetime access (with $925 option)
/ All future course updates
/ Interview prep materials embedded throughout
Total Value
$3,087$1,762
Bundle Pricing
$925$600
Your Savings
$2,162$1,162
Enroll now
Pricing

Invest in your PE career today

Two options. Same comprehensive training. You choose what works best.

Yearly access

$600/ year

Get Yearly Access

Lifetime access

$925one-time

Best value
Get Lifetime Access
Founder Story

Learn from someone who’s worked in every major area of finance (IB/PE/HF/MF)

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survivefinance
186K followers
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Mike Kimpel
12K followers
Mike Kimpel
Founder & CEO

Hi, I'm Mike!

If you’re here, chances are you’re trying to break into high finance and build real skills that actually matter once you’re there. I know how hard that path can feel, because I’ve lived it.

I started my journey at a non-target school. I didn’t have a built-in network or a clear roadmap. I had to learn (often the hard way) what actually matters in interviews and on the desk.

Over time, I worked across investment banking, private equity, hedge funds, and mutual funds, and later began teaching as an MBA professor at Columbia. I've also spent years training professionals at leading finance firms.

What became clear to me was this: most finance training is outdated and focused on memorization, not real understanding.

I built Financeable to change that.

Financeable is the training I wish I had starting out. It’s designed to help motivated candidates prepare the right way, develop real judgment, and have an edge over anyone who uses 'traditional' Wall Street Training.

If you’re willing to put in the work, you can break into Wall Street...and Financeable is here to help you along the way.

Read more
Crafted by a tenured finance professional with experience across the full buy-side and sell-side spectrum.
Venn diagram of the IB, PE, hedge fund and mutual fund experience behind Financeable content
Financeable founder, Mike Kimpel, has trained professionals at the best finance firms in the world. He's crafted and led trainings at:
Logos of firms where Mike Kimpel has led trainings, including Evercore, Lazard, KKR, Piper Sandler, Sixth Street and more
Science-Backed Learning

You learn better when you see concepts in motion

Most finance courses teach you like it’s 1995 with static slides, audio voiceovers, and walls of text. Research shows that visuals and animations are far more effective when you’re dealing with holistic systems. And an LBO is about as holistic a system as it gets.

When you SEE an IRR bridge build bar by bar, from revenue growth to margin expansion to cash flow, your brain builds a mental map of where returns really come from. The concept sticks.

When you WATCH a multiple move as you pull each lever (growth, margin, capital intensity and risk), you internalize why one business trades at 8x and another at 12x. You don’t just memorize, you understand.

This isn’t just ‘pretty animations’ for the sake of design. It’s empirically-backed learning that ensures you learn faster and retain more than with other programs. And when you’re presenting your case to a mega fund partner and they start pulling apart your assumptions?

You don’t panic. You don’t freeze. You don’t fumble through a model you can’t explain. You see the framework in your head. And you defend your numbers with confidence.

Nested circles showing Excel Survival Kit covers the most frequently used Excel functionsIntro to M&A lesson in the Financeable player with an animated video, instructor and course outlineRigid static mental frameworks compared with flexible frameworks that adapt to each problemSell-side process slide comparing the teaser, CIM and management presentationTwo versions of a discounted cash flow analysis, a formula only and a visual timeline
Preview

See the difference for yourself

Watch actual samples from the course and see why students call our approach ‘unlike anything else.’

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Before Financeable, I felt like there was a huge gap between what was taught at my university and what was actually needed for investment banking and private equity recruiting. I was able to apply concepts directly in difficult interviews with firms like Lazard Investment Banking and Roark Capital Private Equity. I genuinely felt more confident discussing industries, business models, costs, competitive advantages, and operational drivers because of Financeable.

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Anthony Do
Full Time Analyst
Sample Lesson #1: PE Case Formats
Sample Lesson #2: What Senior People Focus On...
FAQ

Frequently asked questions

What is the PE Associate Interview Ready bundle?
The Financeable PE Associate Interview Ready bundle is an online training program for investment bankers and other professionals recruiting for private equity associate roles. It includes 13 courses covering LBO modeling, deal structuring, paper LBOs, investment judgment and the PE recruiting process. It also includes 10 full LBO model cases built like real associate modeling tests.

It’s taught by Mike Kimpel, who has 15+ years of experience across investment banking, private equity and hedge funds.
Will this help me land a PE associate role after investment banking?
Yes. That’s who it’s built for. Banking gives you strong modeling skills, but PE firms also test whether you can think like an investor: judge a business, structure a deal and defend a thesis.

The bundle closes that gap, from advanced LBO modeling and timed model tests to investment frameworks used by senior PE professionals. It also covers how to handle headhunters, on-cycle recruiting and offers.
What courses are included?
There are 13 courses:

• PE Associate: Start Here
• Financial Modeling
• LBO Modeling
• Advanced LBO Modeling
• Business Mechanics
• Private Equity In Real Life
• Buyside Mastery Part 1: Process + Thesis
• Buyside Mastery Part 2: Risk/Reward + VAR
• Buyside Mastery Part 3: The Story of the Numbers
• Buyside Mastery Part 4: Ninja Tricks
• Buyside Mastery Part 5: Compelling Visuals
• PE Associate: LBO Model Cases
• PE Associate: Interview Fine Tuning
How is this different from the PE Analyst Interview Ready bundle?
PE analyst interviews are almost entirely verbal and paper cases. Associate interviews cover the whole range: verbal cases with principals, timed in-person modeling tests, and take-home cases you may present to the fund.

So this bundle goes deeper on modeling, with Advanced LBO Modeling and 10 LBO model cases. It also adds the five-part Buyside Mastery series on building and defending an investment thesis.
What order should I take the courses in?
Start with PE Associate: Start Here, which gives you a recommended path based on how much time you have:

• Cram Session: the basics plus some casework.
• 80/20 Prep: gets you ready for many PE interviews.
• Pro: gets you ready for the majority of interviews.
• Mega Fund Ready: every module.
How long does it take to complete?
The bundle includes 56+ hours of video across 405 lessons. Advanced LBO Modeling alone is about 16 hours. Most candidates spread it over 2–3 months.

If recruiting is close, the Cram Session and 80/20 paths in Start Here focus on what’s tested most.
What does the PE associate interview process look like?
Most PE associate processes start with a headhunter screen, then move to interviews with the firm. Those usually include deal walkthroughs, technical questions, a verbal case with a principal, and some kind of LBO modeling test.

The test might be a one-hour in-person model or a take-home case lasting a few days to two weeks. On-cycle processes can go from first call to offer in 24–72 hours.
What do private equity firms look for in associate candidates?
PE firms judge associate candidates on six things:

(1) Deal experience you understand and can explain clearly
(2) Business judgment
(3) LBO knowledge, including paper LBOs and modeling tests
(4) Mental math, which comes up sometimes
(5) Presence in front of senior investors and CEOs
(6) Culture fit

Banking builds modeling skills, but interviewers want to see that you understand how the business works, not just the model.
What is a PE modeling test, and how do I prepare?
A PE modeling test asks you to build an LBO model, usually in about an hour in person or over several days as a take-home. Then you make an investment recommendation. Tests range from mini models to core three-statement LBOs, but rarely full operating models.

The bundle includes 10 LBO model cases that progress from a basic private company deal to a capstone. Each comes with a full walkthrough and a round-number ‘MD math’ check of the returns.
Do PE associates get paper LBOs?
Often, yes. Paper LBOs are common in associate interviews, especially early rounds. A paper LBO is a simplified buyout you solve by hand: organize the assumptions, build sources and uses, estimate cumulative cash flow, then calculate exit equity, MOIC and IRR.

The bundle also teaches the reverse paper LBO. You start from a target return and work out the growth needed or the most you can pay, a question senior interviewers often ask.
What technical questions are asked in PE associate interviews?
Expect LBO mechanics at a deeper level than in banking interviews:

• Sources and uses with cash and debt on the balance sheet
• Debt sizing and minimum equity
• Asset vs. stock deals
• NOLs, seller notes and preferred equity
• Returns attribution
• What drives a valuation multiple

Interviewers also test how you’d sanity-check a projection and which few factors would make or break a deal.
How do I walk through my deals in a PE interview?
Cover five things:

(1) A snapshot of the business (size, margins, segments, capital intensity)
(2) Valuation
(3) Deal rationale
(4) Financing structure
(5) The deal process and your role

Then step back and give the big-picture view, the way a managing director would see the deal. With headhunters, stay high level. With PE firms, lead with the big picture but be ready to go deep, because interviewers will keep probing.
How do I answer ‘Would you invest in this company?’ in a PE case?
Start with what you’d have to believe for the deal to work. Narrow the case to three to five key investment factors, and test each one against realistic ranges for that type of business. Then show how each factor drives the return.

Ranges like Financeable’s ‘Bands of Reality’ tell you when a growth or margin assumption is unrealistic. End with a clear recommendation, the key risks, and the diligence you’d do next.
What is on-cycle vs. off-cycle PE recruiting?
On-cycle recruiting is the fast, headhunter-run process that mostly large funds use to hire associates. It often moves from first call to offer within 24–72 hours and relies heavily on pedigree.

Off-cycle recruiting runs year-round, moves more slowly, and lets your on-the-job experience count for more. Most associates are hired off-cycle. If on-cycle doesn’t work out, a second chance at the same firm off-cycle is rare, so choose your strategy carefully.
How do headhunters work in private equity recruiting?
Headhunters are the gatekeepers for most PE associate roles. Funds pay them to find, screen and submit pre-vetted candidates. Their first meetings are usually behavioral, judging your intent, fit and presence.

If they aren’t contacting you, reach out to them yourself. Networking directly with a firm can also lead the firm to ask its headhunter to bring you into the process.
Can I break into private equity from a non-target school or a smaller bank?
Yes, but your strategy matters. On-cycle recruiting leans heavily on pedigree, so candidates from non-target schools often do better off-cycle, where deal experience counts for more.

Networking helps too. Plan on 2–3 solid contacts at each of 5–10 firms. Start Here walks through the full strategy.
How competitive is PE associate recruiting?
Very competitive, even for candidates coming out of investment banking. Mike estimates roughly 1,000–1,500 associate spots open each year against about 2,000–3,000 serious candidates. Most seats are at middle-market and upper-middle-market funds rather than mega funds.
How is this different from Wall Street Prep or Breaking Into Wall Street?
There are four major differences:

(1) Visual, animated learning. You see concepts in motion instead of static slides with a voiceover.
(2) Practitioner experience. It’s the only curriculum built by an instructor with a background in IB, PE and hedge funds.
(3) Dynamic frameworks. You solve problems with logic instead of memorizing answers.
(4) Built for the associate process. You get 10 LBO model cases, advanced deal structuring, and a five-part series on thinking and presenting like a buy-side investor, not just modeling.
How much does it cost, and do I get lifetime access?
$600/year or $925 lifetime. The lifetime option gives you permanent access to all 13 courses, including future updates, so you can come back to them when you’re on the job.
How many practice questions and cases are included?
The bundle includes 10 full LBO model cases with walkthroughs, paper LBO and reverse paper LBO exercises, verbal PE cases, and 881 practice questions. The cases cover asset vs. stock deals, NOLs, seller financing, mezzanine and preferred equity, dividend recaps, take-privates and roll-ups.