Consultant Lateral to IB -> PE
Currently a Senior Consultant (2 YOE) at a T2 consulting shop that specializes in PE Advisory (e.g. LEK, S&) and looking to make the jump to PE.
I’ve already gotten to 3rd/4th round (positive feedback on all modeling) at 3-4 MM PE funds only to hear some variation of “You were a top applicant for the stack of consultant resumes we received but our team is ultimately more comfortable with IB backgrounds”.
Should I consider a lateral for 1-2 years in IB if I want to break into MM buyout PE?
Ex-Consultants who made the jump to PE, how was your recruitment experience different (if at all) from the typical IB posts on the forum? Do you recommend only accepting interviews at shops with ex-consultants already? Worried that these rejections may eventually sour my HH relationships.
My current thought process is to prep heavily for the upcoming on cycle. If I can’t materialize any offers from that then I would start recruiting for IB lateral opportunities.
You already know the answer.
Are you targeting PE firms that have significant number of ex-consultants, especially at a Partner level?
Driving revenue / EBITDA growth is an important part of value creation playbook (along with debt pay down, some multiple arb) so your background should be relevant.
The headhunters I am working with know my shortlist of firms that I’m interested in which are all shops with ex-consultant presence.
So far (4-5 months), they have only passed me a number of opportunities with MM shops with no ex-consultants. These are the 3-4 I mentioned. I am worried by taking these interviews and being rejected, I might be souring my HH relationships.
The firms I have interviewed with are very interesting and I would love to work at them. Should I just not accept interviews at non-ex-consultant shops to preserve the relationship for on-cycle when the shops that I shared interested in begin their processes? Or should I continue interviewing at these less likely opportunities?
Thank you for your response
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