McKinsey vs. Bain for Private Equity MF Exit
The options are between McKinsey and Bain, both in a major office. McKinsey would be with their digital group, which allows me to have a bit of preference on tech cases but I can definitely work on anything outside of tech, such as PE diligence. Leaning towards McKinsey since Bain forces you to be a generalist, doesn't let me do as much tech work (if I do PE, I'd prefer to do it in TMT), and if I decide against PE, McKinsey exits are better. On the other hand, Bain has a better alumni network in PE and more placements there since most people interested in PE pick Bain. Any thoughts on whether there's a wrong choice here?
You guys in the comments have not been helpful. He clearly asked a question about which offer to take and the only thing that has been said is the obvious "IB is better for PE" line.
I'm at an MBB and signed at a MF/UMM firm. Yes, obviously it was more of an uphill battle and that extra battle has been well documented on this website. However the exits most certainly DO happen. I know of at least 4 MFs that have signed MBB ppl in the last few years (Advent/Bain/TPG/H&F). There are probably more, and this is ignoring all of the fantastic UMM funds, many of which heavily recruit consultants.
To actually address the question that was asked: you will get equal looks from both firms. Your thought process around digital is irrelevant. If anything it's just a constraint on you that can potentially pigeonhole your story and what you are able to work on. However, I personally know of many more Bain people moving into PE and I think there are two main reasons for that: self selection and the strong PE-focused culture. At McKinsey PE recruiting can come and go and most people will have no idea it happened. And most won't care.
Hope this helps. My strong advice is that there is nothing you'll be able to get from this anonymous forum that will meaningfully help you decide. The decision will almost certainly have to come to details that we can't get into here. With that said, feel free to message me--happy to talk to you about this.
Btw, you'll notice in my post history that a couple years ago I asked almost this exact question when I was in your shoes. Happy to give back having been through it.
I want to make it clear that I am all about being helpful. I said Bain for my reasons. We actually match up there.
But cmon when you say “MF PE firms like Advent, Bain, TPG, H&F” as some of the top exits you know MBB consultants have exited to its kinda shows wow - they’re not that great for PE.
I think consulting is great and a lot of exits are amazing. But Bain Cap takes Bain consultants because of the pipeline that I mentioned. Advent and H&F are most definitely NOT megafunds. TPG is the only one that counts, and I know that TPG hires associates in far greater numbers from IB. And IB doesn’t even need to be ultra prestigious or whatever. Like Barclays/citi/baml, firms that if you’re at MBB you probably could get into anyways.
H&F is arguably one of the highest paid, most well-regarded funds out there. Would take it probably over most of the traditional MFs like KKR, BX, WP, etc...
First off, congrats on the offers! You can't go wrong with either firm, and you've outlined the pros of each well. For context, I'm an BA/A/AC heading to an UMM/MF in a few months.
Benefits of Bain: More people tend to recruit for PE from Bain, so you'll likely have a Bain alum who's an associate at every UMM/MF that hires consultants (McK alum are at most, but slightly less than Bain). They'll be helpful in getting you interviews if you impress them. Also, since Bain is the leader in commercial DDs, you can probably get partners to make intros + recommendations to their network at PE funds more easily (assuming you're a top performer).
Benefits of McKinsey: Better and more global network outside of PE. You'll be doing digital, and will develop a better skill set (+network) for tech investing. Will likely be easier to choose which projects you want to work on versus Bain.
Given that you're interested in TMT, I think it makes more sense to go to McKinsey for the more relevant experience (if you're confident you can also get a few DDs under your belt before recruiting for PE).