First and foremost, private equity firms want Analysts that have had good deal experience. That is, Analysts that worked on, and played significant roles on live transactions. Private equity firms also want Analysts with excellent financial modeling, valuation and other technical skills. In addition, its important to demonstrate a solid understanding of the business side of things. In other words, what are the key drivers of a company’s growth, where are the risks, what types of costs might be excessive, etc. Lastly, but just as important, PE shops want to hire Analysts who have a high level of maturity and have excellent communication skills. Note that Analysts who move to private equity firms are generally granted the title of Associate.