Private Equity to Consulting??

Same post from the Private Equity section but hoping to get more advice. Does it make sense for me to go from PE to Consulting now?

A bit of background on myself: I got a computer science degree in Canada, did a few years of M&A and have been in PE for almost two years now. My PE exposure is very limited on the portfolio management side, but heavily focused on transactions (entry/exit). I'm burnt out with deals and don't see myself having a very focused career in finance, would like to explore operations, strategy, and more leadership roles. What complicates this matter is I'm also planning a move to the U.S., (west cost) at the end of the year, while my bonus cycle is June of this year.

I've spoken with a ton of people in the industry and I think my most optimal move right now is to go to MBB after bonus? Correct me if I'm wrong, but I think it'll allow me to relocate easier and take a step closer to operations and more broad exit ops outside of finance.

Has anyone seen a precedent from IB to PE to MBB, then ideally to an industry role? Does it make sense? What other options do I have?

Comments (36)

Mar 6, 2018 - 10:00am
WSO Monkey Bot, what's your opinion? Comment below:

Hey td2013, I'm here because nobody responded to this thread after a few days...maybe one of these resources will help you:

  • From Private Equity Associate to VP in Private Equity is far, far more difficult than investment banking. In order to get into private equity, it's ... Associate vs Investment Banking Associate Why go through the hassle of private equity recruiting opposed to ... investment banking to private equity
  • Private Equity to Consulting? role? Does it make sense? What other options do I have? Investment Banking private equity exit ... opportunities management consulting canada Management Consulting Forum Resources How to Answer "Why ... Does it make sense for me to go from PE to Consulting now? A bit of
  • Investment Banking to Private Equity- 6 Things You Should Know content from 2016, this one ranks #47 with 25 silver bananas. IBD PE PE Recruiting private equity banking ... parties (lawyers, consultants, accountants, etc.) You need deal experience to have any idea on how to go ... versus being an MD in banking. It's hard to beat meaningful carry at a successful performing fund. ...
  • Saving Time Bitches (Investment Banking & Private Equity) href="https://www.wallstreetoasis.com/forums/why-investment-banking-0">How to Answer: Why IB?</a></li><li><a href="https://www.wallstreetoasis.com ... href="https://www.wallstreetoasis.com/salary/investment-banker-compensation">Investment Banker Bonus</a></li><li><a href="https://www.wallstreetoasis.com/forums/investment-banking-hours-what-to-expect">
  • Ask me anything: I'm a private equity associate in Canada and help out with any questions about working in / recruiting at investment banks, private equity and ... hedge funds in Canada. I graduated from a non-target in Canada, worked at a Canadian bank for two years ... and have been working in private equity for the last two years. ...
  • Private Equity Resume Template- Official WSO CV Example Investment Banking or Management Consulting and looking to make sure your private equity CV is polished for ... , private equity, hedge funds, trading, management consulting, and other finance resumes. Our testimonials ... Attached to the bottom of this post, you will find the Wall Street Oasi
  • Overview of Infrastructure Private Equity other asset classes (such as PE, equities, fixed income, RE, etc.). No need to explain- private ... banks that have merchant banking or private equity business, would have infrastructure PE franchise. For ... I understand that for regulatory purposes US banks have to come up with different names for their private fund ...
  • How difficult or easy is it to lateral into Acquisitions from Asset Management? (Real Estate Private Equity) the short version of my question is: Is the transition from Asset Management to Acquisitions difficult ... Management position, so I'm having trouble deciding what to do. Thanks, NB Acquisitions analyst real ... estate Real Estate Private Equity <p class="h4 m-t-none">Real Estate Forum ...
  • More suggestions...

No promises, but thought I'd mention a few relevant users that work in the industry: qwertyz dmm001 Rheinl

I hope those threads give you a bit more insight.

Mar 15, 2018 - 11:03pm
dorapaddle, what's your opinion? Comment below:

Most people typically go the other way around tbh, but since your aim is to broaden what you can do in terms of exit ops (what exactly is your end goal?) I think MBB is a good way to start that, since you're right it will allow you to do the things you listed. Just my 2 cents!

Mar 16, 2018 - 12:25am
H13x, what's your opinion? Comment below:

Did not like programming td2013 ?

Interesting background with the CS. Why leave PE? Usually that is an end goal.

No pain no game.

Apr 2, 2018 - 5:04pm
td2013, what's your opinion? Comment below:

I did a dual-degree in computer science & finance. Did a few internships in software development and didn't like it as much as finance. I'm leaving PE because I realized I don't want to be a great investor, I'd rather be a great leader.

Apr 4, 2018 - 2:46am
H13x, what's your opinion? Comment below:

Yeah, I will agree with you that SD is a little dry and boring, no question about that. What you do mean you don't see yourself as a great investor? I thought you needed some attribute to that for work in finance...forgive my ignorance on that end.

No pain no game.

Best Response
Mar 27, 2018 - 12:13pm
BreakingOutOfPWM, what's your opinion? Comment below:

A top b-school direct to a corporate leadership position would give you similar resume cachet with the same result - potentially getting you into an ops management role even sooner than MBB, which would probably better set you up for corp strategy or corp dev roles. Plus it sounds like you need a break. But either option would work.

If you're feeling burnt out though, bear in mind that MBB isn't going to help much on that front.

Apr 17, 2018 - 7:30pm
nyc1903, what's your opinion? Comment below:

Upper-MM PE to MBB? (Originally Posted: 02/09/2016)

Hi guys,

I'm currently at an Upper MM PE shop (analyst experience at a BB bank) and I've been considering my options for when these guys are going to kick all of us out after 2 years.

After thinking long and hard about it, I know I want to get an MBA (for various reasons). However, paying for it is a different story. I've also always considered working at MBB, and I know they sponsor MBAs for top performers.

Are there any cases where MBB will hire an experienced lateral from a PE shop in a senior associate (or equivalent role), keep them on for a year, and sponsor their MBA (with the contingency that they come back of course)?

Array
  • 2
Apr 2, 2018 - 5:06pm
td2013, what's your opinion? Comment below:

Thanks for pointing that out. I had considered that before but I can't justify the money, opportunity cost, and the amount of time put into applying and going to b-school. And totally understand that MBB isn't a walk in the park, but at least I'll get weekends free and it's most likely not a long-term decision when I decide to move south by the end of the year.

Apr 17, 2018 - 7:32pm
VCMonkey01, what's your opinion? Comment below:

Don't think you'd get hired in at a post-MBA level position without an MBA. If you came in as an industry hire, you'd have to come in at the BA/AC level and do that for 2 years before getting sponsorship. At that point, you'd be taking such a paycut for the first two years that there's no way you're not better off just going straight to B-school.

Might seem a bit unfair given your experience, but the MBB stance, fair or not, is that the skills you've developed in banking/PE aren't so transferable to consulting that they should be willing to pay a premium to hire you instead of the next whipsmart guy out of undergrad with no experience.

If you're deadset on getting your MBA paid for, I believe Deloitte will reimburse you for your tuition if you go work for them.

Array
  • 3
Apr 17, 2018 - 7:33pm
nyc1903, what's your opinion? Comment below:

Hmm, thanks for the thoughts guys!

Do any of MBB reimburse tuition if you work for them post-MBA?

Array
Apr 17, 2018 - 7:36pm
Mr_Lightman, what's your opinion? Comment below:

You would almost certainly need to start as a 1st year BA/AC/A, and stay for the full pre-MBA stint to get sponsorship. I think it would be better for you to go pay for your MBA and try to get to MBB out of B school.

Apr 17, 2018 - 7:37pm
td2013, what's your opinion? Comment below:

Private Equity to Consulting? (Originally Posted: 03/02/2018)

Does it make sense for me to go from PE to Consulting now?

A bit of background on myself: I got a computer science degree in Canada, did a few years of M&A and have been in PE for almost two years now. My PE exposure is very limited on the portfolio management side, but heavily focused on transactions (entry/exit). I'm burnt out with deals and don't see myself having a very focused career in finance, would like to explore operations, strategy, and more leadership roles. What complicates this matter is I'm also planning a move specifically to the U.S., preferably west cost at the end of the year, while my bonus cycle is June of this year.

I've spoken with a ton of people in the industry and I think my most optimal move right now is to go to MBB after bonus? Correct me if I'm wrong, but I think it'll allow me to relocate easier and take a step closer to operations and more broad exit ops outside of finance.

Has anyone seen a precedent from IB to PE to MBB, then ideally to an industry role? Does it make sense? What other options do I have?

Apr 17, 2018 - 7:38pm
WSO Monkey Bot, what's your opinion? Comment below:

Hi td2013, any of these topics helpful:

  • From Private Equity Associate to VP in Private Equity is far, far more difficult than investment banking. In order to get into private equity, it's ... Associate vs Investment Banking Associate Why go through the hassle of private equity recruiting opposed to ... investment banking to private equity
  • Investment Banking to Private Equity- 6 Things You Should Know content from 2016, this one ranks #47 with 25 silver bananas. IBD PE PE Recruiting private equity banking ... parties (lawyers, consultants, accountants, etc.) You need deal experience to have any idea on how to go ... opportunities (b-school, corp dev., etc.). The biggest attraction to leveraging a junior IB role for 2-3 years ...
  • Overview of Infrastructure Private Equity other asset classes (such as PE, equities, fixed income, RE, etc.). No need to explain- private ... banks that have merchant banking or private equity business, would have infrastructure PE franchise. For ... I understand that for regulatory purposes US banks have to come up with different names for their private fund ...
  • Private Equity vs Venture Capital- Differences and Similarities private equity firms: Invest in startups Invest in less than a majority of equity in a company Prefer to ... capital firms. Many get them confused because they both invest in private companies and attempt to sell ... Venture capital and private equity firms differ in investing structure, stra
  • Answering Why Private Equity- A Complete Guide difference is responsibility. In private equity (again, opposed to investment banking because that's ... Course Here Investment Banking private equity IBD PE middle market mm to Sunday, February 18, 2018- ... These are just a few of many reasons people decide to go into private e
  • Exit-Ops: Equity Research vs. Investment Banking- (A Definitive Guide, Part 2) but if you're really aiming for asset management, I'd recommend the ER route. Private Equity ... a few resumes to private equity shops. As my experience showed, it's not likely that you'll ... worked in both areas, I wanted to touch on ER vs. IB exit-ops similar to my Work/Life balance post. ...
  • Saving Time Bitches (Investment Banking & Private Equity) href="https://www.wallstreetoasis.com/forums/why-investment-banking-0">How to Answer: Why IB?</a></li><li><a href="https://www.wallstreetoasis.com ... href="https://www.wallstreetoasis.com/salary/investment-banker-compensation">Investment Banker Bonus</a></li><li><a href="https://www.wallstreetoasis.com/forums/investment-banking-hours-what-to-expect">
  • Which major is best to get into Equity Research/ Asset Management/ Private Equity? a non-target as an Econ major? Is it very difficult to get an i banking/ equity research / Asset Management ... ops? Change Major? Equity Research i banking College major asset management business major ... a non-target, but have the opportunity to enter into the Accounting program. While my school is not known for ...
  • More suggestions...

Who will rescue this thread? @Darren-Miao" Carzo theateam

I hope those threads give you a bit more insight.

Apr 17, 2018 - 7:40pm
plskystks, what's your opinion? Comment below:

I'm in the exact same boat as you in terms of wanting to leave finance for more of an ops role but haven't seen very many people go PE to consulting (have seen quite a few do IB to consulting). I'm thinking of going straight to industry post b-school, or failing to get into school, do an industry role. Why are you thinking of doing consulting? Just broad exposure before you select what you want to focus in? Figure you can move directly into an industry role with your background

Also you might have more luck posting in the consulting section of the site? Figure most of the people in this forum are PE hardos who don't want to leave

Apr 17, 2018 - 7:41pm
HarvardOrBust, what's your opinion? Comment below:

I think if you went MBB before doing some strategy or ops role at a corporate that would definitely increase your chances. For some strange reason corporates in Silicon Valley and other hot markets don't really understand private equity and gravitate towards consultants. The other route is trying to work for a PE portfolio company where the PE firms know the quality of PE professionals and won't undervalue them

Apr 17, 2018 - 7:42pm
td2013, what's your opinion? Comment below:

Thanks for your responses. I'll also post this in the management consulting section.

I'm considering consulting first rather than straight into an industry role due to a few reasons. Lateral at MBB have more frequent openings, I'm at least one step closer than staying at my PE firm. It's more global so it'll allow me to travel and get exposure to the industry before I make a bigger leap into it. Also, if I realize it's not what I want to do I think still have an angle for MBA. Finally, it'll help me bridge the gap between when I get my PE bonus (May) until when I want to relocate (December).

Apr 17, 2018 - 7:45pm
td2013, what's your opinion? Comment below:

I have and also considered PE-owned portfolio companies. The problem is that those openings are very limited in Canada and mostly in less-ideal industries.

Apr 17, 2018 - 7:44pm
Whiskey5, what's your opinion? Comment below:

have you worked in an ops role before? as in - have you had the chance to step in as interm CFO or something of that nature for a portco?

i may have been spoiled in PE - ops is tough man, its another kind of day in and day out grind... i can't ever go back to client facing role either and live my life by their terms. lol i adore private equity and i love the view from 35k ft high.

but then again, i would definitely be open to the ops grind if it was my business i'm working on

edit: should have read more closely, sorry. what about directly asking your fund for a portfolio co position to see if you really like ops or not? or is this entirely not possible? if not, MBB probably best bet

Apr 17, 2018 - 7:46pm
td2013, what's your opinion? Comment below:

I have not worked in ops. As for my fund, ops and strategy related work for portfolio companies are mostly outsourced, so we can focus on capital deployment and realizations.

Apr 17, 2018 - 7:49pm
Matthias, what's your opinion? Comment below:
  1. MBB is extremely difficult to break into from industry. If one is in industry it is generally much easier to apply to grad school and apply from a target masters program. Based on your profile it sounds like you would be a competitive applicant to top MBA programs.

  2. Having a CFA will not be a deciding factor in whether you are hired/chosen to be interviewed by MBB

Apr 17, 2018 - 7:52pm
Bankn, what's your opinion? Comment below:
Matthias:
1. MBB is extremely difficult to break into from industry. If one is in industry it is generally much easier to apply to grad school and apply from a target masters program. Based on your profile it sounds like you would be a competitive applicant to top MBA programs.
  1. Having a CFA will not be a deciding factor in whether you are hired/chosen to be interviewed by MBB

I've heard that it's very common for MBB to hire manager/director level and above from corporations in order to have industry expertise. Then on the flip side, it's very common for MBB managers and above to jump into their given industry of practice. I somewhat doubt that MBB would scoff at a person with 5-10 years of solid industry experience, especially if they have a solid MBA under their belt.

Same thing with I-Bankers, I work in high-level FP&A and I've met multiple former I-Bankers working in FP&A, Corp Dev, and strat.

  • 2
Apr 17, 2018 - 7:50pm
wolverine19x89, what's your opinion? Comment below:

Curious as to why you want to go for consulting over corp. dev... I mean, it's probably very common, I feel like corp. dev. would be pretty badass overall compared to consulting though, except for maybe the $$$ part

If your dreams don't scare you, then they are not big enough. "There are two types of people in this world: People who say they pee in the shower, and dirty fucking liars."-Louis C.K.
Apr 17, 2018 - 7:51pm
State of Trance, what's your opinion? Comment below:

I just like how strategy consulting exposes you to many different industries and areas and is so broad in nature.

Apr 17, 2018 - 7:53pm
Bankn, what's your opinion? Comment below:

My two cents is that you should really try to make friends with some of those consultants you work with so you can get an in. I also don't think you NEED an MBA (in fact I have a good friend who moved from a corporation as an engineer into Bain w/o MBA and only 1 year of experience), but a top MBA certainly would put you in a good position to get a foot in the door.

Finally, I doubt the CFA will do anything at all to help you get a MBB strategy/financial position. In fact, I honestly believe the CPA would be a much better choice (if you want to work in U.S. for MBB); it shows you have a deep knowledge of the way a business runs and it's much more specific to corporate strategy/finance than is the CFA which is almost exclusively focused on asset management. That being said, I don't think getting a CPA is critical either.

  • 3
Apr 17, 2018 - 7:55pm
anonanonanon, what's your opinion? Comment below:

Consectetur impedit facere blanditiis vel at. Praesentium et facilis eaque nostrum est accusantium corrupti. Est explicabo ipsum voluptatem sequi voluptatum.

Qui expedita cum voluptates voluptates. Iusto voluptatum cum voluptatum unde explicabo asperiores est.

Omnis enim at saepe et tempora exercitationem quisquam. Rerum eos qui praesentium ipsam voluptas omnis. Illum temporibus et occaecati eius minus suscipit incidunt.

Officiis harum assumenda sequi earum. Sunt odio doloribus praesentium facilis cum quo. Sunt velit voluptate consectetur. Natus iure nihil quia rerum quae rerum laborum.

Apr 17, 2018 - 7:56pm
WalMartShopper, what's your opinion? Comment below:

Et et possimus officiis enim. Ex voluptatem inventore placeat sit at veritatis. Voluptatem molestiae ex quo debitis doloribus debitis in. Eius tenetur dolorem harum eos ut. Perferendis repudiandae consequatur aspernatur.

Exercitationem est est doloribus qui laboriosam et. Et tempora eligendi dolor eos doloribus quisquam esse.

Alias facilis provident ad cum mollitia reiciendis incidunt. Cum deleniti aut ad quos recusandae ipsam perferendis ut.

If the glove don't fit, you must acquit!
Start Discussion

Career Advancement Opportunities

September 2022 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.8%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.1%

Overall Employee Satisfaction

September 2022 Consulting

  • Cornerstone Research 99.4%
  • Bain & Company 98.8%
  • Boston Consulting Group (BCG) 98.3%
  • McKinsey and Co 97.7%
  • Oliver Wyman 97.1%

Professional Growth Opportunities

September 2022 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.8%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.1%

Total Avg Compensation

September 2022 Consulting

  • Partner (4) $368
  • Director/MD (51) $269
  • Principal (24) $267
  • Vice President (43) $246
  • Engagement Manager (88) $221
  • Manager (141) $168
  • 2nd Year Associate (141) $139
  • 3rd+ Year Associate (103) $130
  • Senior Consultant (305) $129
  • 1st Year Associate (496) $117
  • Consultant (548) $116
  • Engineer (4) $110
  • 3rd+ Year Analyst (129) $110
  • NA (12) $109
  • 2nd Year Analyst (289) $98
  • Associate Consultant (154) $96
  • 1st Year Analyst (955) $85
  • Intern/Summer Associate (162) $81
  • Intern/Summer Analyst (455) $67