Experienced Hire MBB -> Private Equity?
Hey everyone! I spent the last couple years out of undergrad in strategy roles outside of banking / consulting and was recently contacted by an MBB recruiter to join as an experienced hire entry level consultant. I wasn't really considering consulting but have been somewhat interested in private equity for a while despite coming from a non-banking profile (I summered and had an offer in banking as an undergrad, but at the time wasn't interested in the role).
I know some PE shops hire consultants, but does anyone have any perspective on whether the process / chances would differ for experienced junior consultants vs. junior consultants fresh out of undergrad? Does the MMB -> PE recruiting process differ by city (e.g., Chicago / Los Angeles vs. NYC / SF)? Outside of the chance to re-do my profile and break into private equity, I'm not entirely sure how I feel about 'starting over' as an entry-level consultant yet so would appreciate any input y'all have.
I think it depends where you would be entering at MBB (also if you convert an to an MBB offer).
If you come in at the post-undergrad level as AC/A/BA you'll likely be contacted by all the headhunters as part of their regular outreach process. If you come in at the post MBA / Consultant level, then there is essentially no pipeline or HH process for recruiting to VP level at a fund aside from maybe LMM.
Regarding cities, the office of MBB does not matter much (MBB = MBB) outside of your ability to attend networking / coffee chat events in NYC (non-existent in COVID environment), but funds will run recruiting out of a single headhunter. It is more important that you articulate a city / fund preference to these recruiters throughout a process.
At a high level, I think some funds are more open to diverse backgrounds than others. TPG has taken some people out of a few years of MM PE at the associate level, H&F has hired out of MBB->Google, Apollo has taken post-ONEX associates. Most however tend to stick very closely to the cookie cutter Target school -> Bulge bracket -> PE profile.
Just some thoughts - best of luck!
Thank you - the advice is really appreciated. I'd be going in at the experienced AC / A / BA level, so the impression that headhunters are likely to still reach out is reassuring. Appreciate the luck as I'll need all of it I bet!
Laborum nemo sint optio. Placeat ab consequatur nam ut dignissimos et. Placeat labore quo autem consequatur suscipit.
Voluptas dolorem amet unde neque ut. Nulla odit sint vero ipsa incidunt. Et voluptatem delectus nisi praesentium voluptatem eius consequuntur. Voluptas est deserunt eius voluptate illo qui nesciunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...