Pitch
Build the models that price billion-dollar mergers and acquisitions.
Source, diligence, and execute leveraged buyouts of mature companies.
Own live systematic strategies, translate research signals into P&L under real market frictions.
Daily work
Construct DCF, comps, precedent transactions, and accretion/dilution models for M&A deals. Draft pitchbooks and CIMs, manage data rooms, support MD client meetings. 80–100 hour weeks during live deals.
Build detailed LBOs, lead financial DD, draft IC memos, support portfolio company boards. 2–4 year associate programme typical → MBA → VP.
Operate and supervise systematic strategies in production: monitor execution quality, manage risk and capacity, calibrate parameters, intervene during regime shifts. Sit between research and execution, interpret signal decay, costs, and microstructure. P&L is attributed directly to the strategy and the trader on it.
Seniority focus
entry
mid
mid
Regions
Europe · NorthAmerica · Asia · MENA
Europe · NorthAmerica · Asia · MENA
Europe · NorthAmerica · Asia · MENA
Market types
developed · emerging
developed · emerging
developed
Base salary range
GBP £60–95k
USD $200–300k
USD $200–400k
Bonus range
GBP £30–80k
USD $150–500k
USD $400–4M+
Top employers
Goldman SachsJPMorganMorgan StanleyBank of AmericaCitiBarclays+4
KKRBlackstoneApolloCarlyleTPGEQT+3
CitadelTwo SigmaDE ShawJane StreetJump TradingHudson River Trading+4
Entry route
Target university + summer internship (Spring Week → Summer) + on-cycle recruiting
2 yrs top-bucket IB analyst → on-cycle recruiting (NY/London)
MFE/MSc Quant Finance or PhD in STEM + strong coding + interview battery (math, probability, microstructure)
Exit options
- ›Private Equity Associate
- ›Hedge Fund Analyst
- ›Corporate Development
- ›Growth Equity
- ›VP at same/different fund
- ›Hedge Fund
- ›Portfolio Company CFO
- ›Senior Quant PM
- ›Pod Lead at Multi-Strat
- ›Crypto Quant Trader
- ›Launch own systematic fund
Source
Goldman Sachs Investment Banking Division, Analyst Programme
KKR Private Equity, Associate Programme
Jane Street / Citadel Securities, Systematic trading desks