Q&A: Strategy consultant leaving for private equity
I was a (pre-MBA) strategy consultant (Deloitte/Accenture/PwC) for 2-4 years since graduating from undergrad at a top 25 school (think Michigan/UVA/NYU/Tufts or something similar) where I majored in math.
Most of my projects were centered around financial transactions where we performed due diligence of targets or advised clients on potential cost restructurings but I have also been exposed to revenue growth strategy and large enterprise transformations.
Most recently, I went through the PE off-cycle recruitment process and secured a lower/middle market PE role in NYC. I was slotted for a lot of roles that were for the due diligence or operations team at larger funds but what attracted me to this fund was the more blended role across investing and operations.
I'm thinking this thread could be helpful for two groups: 1) Undergrads/ industry professionals interested in consulting * Strategy consulting recruitment (undergrad & experienced hire * Day-to-day insights, how to excel once you get the job, how to acquire the skills/ background that you want for your future career 2) Current consultants looking to move into finance * Project experiences & skillsets that are most relevant for making the transition * Networking and recruiting techniques for moving out of consulting into a different industry
My process lasted ~6 months across three main phases:
1) October / November - Modeling Practice / 1st degree contacts catch up
Completed WSO PE course along with CFI Financial Modeling course
Met with friends in finance and former consultants to begin laying the foundation for growing my network
2) December / January - Met with almost all major recruiting firms / 2nd degree contacts
I would highly recommend getting connected with recruiters by a friend who has already worked with them
If you don't have a connection, be persistent with your emailing and only ask for 15 minutes of their time
Once you get a hold of them, make sure you meet them in person to maximize your chances of impressing them
Ask to be considered for roles that are aligned with your background and interests
Same advice applies for meeting with industry contacts as well
This is a numbers game so be persistent and don't get weighed down by rejection
3) February / March - Interviews / Picked mentors within the recently built up network
The first two steps were all about building a lead funnel. Once this was in place, by February I was able to get a good amount of leads from recruiters and contacts for first round interviews
I probably met with about 60-70 recruiters and contacts -> from them, I got about 15 first rounds / meet and greets -> 5 of them went to later rounds -> 2 were final rounds -> 1 offer
This process was a bit nerve wracking, which is why I relied on the mentors I found in my networking for advice on navigating and negotiating