Hey,
good question – and honestly, it depends a bit on the team and deal flow. But generally speaking, in your first year as an analyst, you will do a fair bit of modeling – just maybe not the glamorous, standalone LBOs right away.
You'll often be working on parts of larger models (e.g. building outputs, doing sensitivities, updating comps), and over time, you’ll take on more ownership. Think of it as learning-by-doing: you’ll get faster, cleaner, and more confident with every model.
Also: expect a good chunk of your time to go into pitch materials, buyer lists, and process work – it’s not 100% Excel all day, but modeling is definitely a core skill you’ll keep sharpening.
Hope that helps – happy to share more if you’re curious!
