PE preference for Consultants in India

Folks,

Long time lurker recruiting for PE here and have observed a curious phenomenon - a high number of "Friends of friends" in India get into MFs with consulting backgrounds, most of which are not MBB firms - can anyone shed some light on why consulting candidates are so highly valued in India?

Also, are non-MBB consulting firms more valued in India vs their global counterparts? Just to illustrate, there haven't been that many candidates from ATK, Strategy&, etc outside India transition into MF PE - a quick LinkedIn search will confirm this. All thoughts welcomed.

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The pre-MBA candidate pool, which is the feeder for PE associate roles, is much more robust in India for consulting versus IB. Most investment banks in India still prefer to hire post MBA for front-end roles and hence don't have structured undergraduate hiring programs. This is why consultants are the key target pool for PE employers

The answer to your second question is due to the scarcity of consulting roles on offer versus capable undergrad candidates, the difference in strength of an MBB hire vs. an ATK hire isn't assignificant in India. In fact, oftentimes firms like LEK, Strategy&, and Parthenon manage to recruit the best candidates through internship return offers (MBB firms don't have undergrad internship programs). Also, PE recruitment processes usually involve several rounds of case study interviews / tests which provides an opportunity to overcome a weaker brand on your resume.

 

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