MBB to HF Path
I’m hoping to get a little more guidance on for anyone that has done this or seen anyone do this. Would my best path be to first go to a consultant friendly PE shop and then go into a HF? How doable is this?
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Based on the most helpful WSO content, transitioning from MBB to a hedge fund (HF) can be a viable path, but it often involves a few strategic steps. Here are some insights:
Consultant-Friendly PE Shop:
Direct Transition to HF:
Skills and Experience:
Networking and Referrals:
Educational Background:
In summary, transitioning from MBB to a hedge fund is doable, and going through a consultant-friendly PE shop can be a strategic path. However, direct transitions are also possible with the right skills and networking.
Sources: How to transition from Technology Consulting at a Tier 2 into MM Private Equity?, HF to PE post-MBA - my story and seeking advice (long-time poster)!, MBB -> PE Offer: Q&A, Q&A: MBB to MM PE, Q&A: 1st year VC analyst (~750M AUM)
Direct you can forget about as you have no idea how valuation works. You’ll need to do PE as stepping stone indeed and even then uncertain
Why uncertain after that? From what I understood HF exits are at least somewhat attainable after PE. Do you say this because I won't have the IB experience before PE for them to see?
Because these jobs are very hard to get and you’ll have zero public markets experience still
For the most part, what we do just doesn't translate to conventional HF.
Even working in Bain PEG / BCG Pipe / Mck PE practices (the closest thing to financial work we do), we're looking at internal / intrinsic value for sophisticated clients with a big emphasis on "full potential" over next X years.
In L/S pods, you're looking for idiosyncratic and market-driven effects over the next couple months at most, and most of those effects are on the market side. Quant funds, special sits, etc. are an entirely different ball game altogether.
TLDR, jobs are extremely different.
people in consulting probably think MBB will give them a shot at POTUS
Not even a joke since Pete booty jug tried that
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