Is it still worth to go from MBB to PE?
I always was set on doing PE after my MBB stint.
Right now, I have decent traction in various processes with UMM/LC shops.
However, my head and heart is not fully in it.
I am struggling with all the negative talk surrounding the industry and also the relatively unimpressive economics. I have a relatively easy / clear path to EM soon at which point my base salary would be 50-60% above PE assoc and total comp slightly above with tons of more perks. From the numbers I hear PE pay seems astonishingly “meh” especially when compared to IB.
Also all the negative talk gets to me. My greatest fear is that I now move of a path where I would have quiet a good path to a good exit into a large PharmaCo to trade that with an investing seat at a MM/UMM fund locking me into a PE career in which economics will may only go more south from here.
It’s hard to express and maybe I’m overthinking but I personally feel that my next career move could set me up to two completely different live realities (als personally) and I want to get this right.
if PE is meh then consulting is atrocious. Consulting will be disrupted very badly with AI (already is). PE also pays better than consulting by a mile
PE pay can great, and can be shit.
Consulting pay is less varied.
Does it? Considering the lack of upward mobility, compared to a relatively secure path to EM...?
PE associates often get paid similar to Associate Partners, so yes
You don’t really get my post. I’m not comparing consulting vs PE in the long run but rather try to gauge my near term trajectory.
If I stay a little longer in consulting I’m EM with arguably the best package of (pay + perks / working hours) given my age.
If I then exit, I will have a direct pipeline to cushy roles in large PharmaCos (I mainly do healthcare).
Now I’m contemplating to go into PE but every time I talk with somebody in PE or look up information online literally everybody is complaining (see recent thread here on how live deals in PE are hell).
I’m just trying to evaluate whether things in PE are really this bad or whether I should shut down all the voice and go look for myself.
How is being a junior mgr at a consulting shop ‘arguably the best package for your age’? You’re a lackey, have no leadership or P&L or decision making experience, etc. Consulting skillset is not very valuable in the real world beyond the first 3 years or so. The pay is also very mediocre compared to actually high paid careers
But yeah if you want to do some random job at a PharmaCo long term there’s no point doing PE. So from that perspective you’re right
You’re clearly very junior and it looks like they’ve done a good job selling you the koolaid but if you want more considered responses you need to be more mature and grounded in reality
“You’re a lackey, have no leadership experience, P&L etc.” reads like someone who very clearly has never been an associate in PE lol. Or maybe you have been and are guzzling the “masters of the universe” Koolaid when you’re simply doing a different flavor of the PPT/Excel work you do in consulting.
Used to work in MBB and went into MFPE. I would only recommend going into PE if you think you want to be an investor (I.e. does the role actually seem interesting to you / intellectually stimulating). If this is just a prestige chase, I would stay in consulting for all the reasons you mentioned (at EM level your making a comparable / slightly lower amount to MFPE associates for orders of magnitude better lifestyle).
I don't understand. If things are going well in consulting why break it?
PE really is that bad. Don’t make the move. Stay in consulting, get EM. When you want to start a family, go coast at a PharmaCo.
You should stay in consulting. You seem like you’d be a shitty associate and will likely have more runway with the EM to PharmaCo route.
Are you at M? I just lateraled to one of the other two from IB and was curious about the kind of looks you’re getting rn
You wrote a lot but you never actually explained why you’re considering PE. Is it the skill set? The carry? A genuine interest? Or do you just hate your current role? If you’re not clear on what you want from your career and life it’s hard to give any meaningful advice
Regarding pay, I don’t think MBB is better especially since you’re not a EM yet.
Your currently on 200 + 20-50% whereas in PE it would likely be much higher in bonus.
You will learn far more in PE than staying in consulting. Even if you hate PE and go back to consulting, you will be far better than your peers by virute of the training you received.
If you go into corporate, ex PE people absolutely blow ex consulting and ex IB people out of the water and there are certain finance / corp dev roles that will only hire people with PE experience. Take a look at the CFO of Anthropic as a case study here - he exited more senior and progressed far faster than folks without a PE background.
It is a shitty grindy existence, so do some soul searching on if your mental and physical health and relationships can survive a two year meat grinder experience.
OP, take responses here with a grain of salt, as most people on WSO work in IB, PE and are already biased / anti-consulting to begin with
Kind of hijacking the thread but curious to get perspective. For the consultants and ex consultants here, is it possible to make the jump to a senior associate or VP seat post MBA from MBB? I was thinking of targeting MBB instead of IB post MBA as a plan B if I don't get any traction with MBA buyside recruiting.
I'd target groups that work mostly on commercial due diligence engagements vs. general strategy work (although I know many have a mix of both).
I think that’s virtually impossible and even if you do you’ll be at a huge disadvantage compared to peers who have come from PE
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