Private Credit Summer Analyst

1. 1Application

   Resume and transcript. Small classes, so networking and a clear reason for credit over equity matter.

2. 2First round

   An associate or VP. Why credit, a walk through of your experience, then credit metrics, capital structure, and how a lender gets repaid.

3. 3Superday and case

   A credit case on a company: leverage, coverage, cash flow under a downside, where in the capital structure you would lend, and the terms you would ask for. Some firms add a timed model.

4. 4Offer

   Fast at most direct lenders. Classes are small and seats fill early.

Ares Management does not state its process on its own site, so these are the usual stages.