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!
Ut porro voluptatum dolores a tempora. Quisquam eos illo recusandae eos deleniti cumque est. Quia officia exercitationem iure sint maxime. Omnis assumenda delectus aut nihil labore a architecto.
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...