# Private Equity Associate

*Careers & Credentials — Finicade finance glossary*

The private equity associate role is the standard step after banking: sourcing deals, building LBO models, running diligence, monitoring companies.

The private equity associate role is the standard next step after banking: sourcing and screening deals, building LBO models, running diligence, and monitoring portfolio companies. The work shifts from selling transactions to deciding on them, which is the appeal. Compensation adds carried interest, though associates typically receive a small allocation that vests over a fund's long life.

**Also known as:** PE associate, buyside associate

**Related terms:** [Private Equity](https://finicade.com/glossary/private-equity), [Leveraged Buyout (LBO)](https://finicade.com/glossary/lbo), [Investment Banking Analyst](https://finicade.com/glossary/investment-banking-analyst), [Financial Modeling](https://finicade.com/glossary/financial-modeling), [Carried Interest](https://finicade.com/glossary/carried-interest)

Source: https://finicade.com/glossary/private-equity-associate