Starting to lose motivation at MBB, is PE a good exit opportunity?
After 1 year in MBB I am starting to feel some topics that are making me to think twice if consulting will be my career option for the next future. These topics are:
- Feeling that projects are not as enjoyable as I used to think before joining. Usually projects involve many client administration (meetings, task iteration, qualitative evaluation,...). Before I started when I was studying cases I found that consulting was my dream job as you could structure your creative solutions for a company problem and base your insights on data after crunching the numbers. Quantitave or analytical projects is something I enjoy a lot and I am good at
- Lack of "ownership". I feel like you are putting so much time (no complains) and after all your success is not clearly rewarded as an employee. For example, does not matter how you have helped your client with your project, if they are doubling sales because of your project you will have at the end the same established career development which lowers your ambition and motivation
- Unmatching with culture sometimes. I feel that the successful one is like the nerd in the school. The person who puts the more time, the more visible to manager (nerds being toadys with teachers) and the one who takes the best notes is seen as the most succesful and rewarded. No option for extraordinary ideas, unique value in one matter and risk driven mindset. It feels like brain or uniqueness don't matter while is everything working hard
- Difficult to manage life. Although I like to travel I think it will be difficult to maintain this lifestyle in the next years in case you want to form a family and enjoy weekends with friends at home
These are the main reasons I am reducing my initial motivation in consulting after seeing so many of my colleagues also leaving. Apart from that, I usually enjoy work (hours are not excesive, variety of projects, still learning, prestige and people).
For this reason, I am considering valuing to exit into private equity as I think it is more quantitative work, final performace of your portfolio company correlates with bonus, more importance to unique value of associate (instead of another replicable hard working consultant) and no travel.
I don't know if I am gettting confused by PE but I would like to have your opinion especially if you also came from MBB/consulting and you work currently on PE. I read so many negative comments about this career change in the forum so I would love if you could help me with your wisdom in this matter. Also feel free to suggest different career options that could fit for me
Thanks!
Based on the most helpful WSO content, transitioning from MBB to PE is indeed a path some consultants take, although it's less common than the traditional route from investment banking to PE. Here are some points to consider based on your situation:
Quantitative Work: PE involves a significant amount of financial analysis and modeling. If you enjoy quantitative work, PE may offer more opportunities to leverage those skills compared to some consulting projects.
Ownership and Reward: In PE, the performance of the investments you work on can have a direct impact on your compensation, particularly through bonuses. This might align better with your desire for a sense of ownership and reward for your efforts.
Cultural Fit: PE firms can have different cultures, but they often value individual contribution and the ability to drive results. Your unique value as an associate could potentially be more recognized in this setting.
Work-Life Balance: PE can be demanding and often requires long hours, similar to consulting. However, travel is typically less frequent in PE, which might better suit your lifestyle preferences if you're looking to spend more weekends at home.
Skill Transfer: While you may not have direct experience in financial modeling from MBB, it is possible to learn and pick up these skills. Some PE firms may value the strategic thinking and problem-solving skills you've developed in consulting.
Networking: Utilize your network to connect with individuals who have made the transition from MBB to PE. Their insights could be invaluable in understanding what the role entails and how to best position yourself for such a move.
Remember, it's important to conduct thorough research and network with PE professionals to get a realistic understanding of what a career in PE entails. Also, consider reaching out to mentors or career coaches who specialize in this transition for personalized advice.
Sources: Breakdown of Post-IB Exit Opportunities, Breakdown of Post-IB Exit Opportunities, Is BCG a viable path to Private Equity?, From Private Equity Associate to VP in Private Equity, Can someone break down PE Associate exit opportunities?
PE lifestyle is much harder to manage. Please reach out to former consultants in PE
PE probably not for you but commenting on that specifically is not my wheelhouse. However I would suggest a pivot (and unless you have a CS/math degree hidden in your pocket) that might require some legwork like a masters - HF with/and/or data. Data at HFs.
- quantitative and analytical: massive check, almost too much so
- ownership: so much of it that it keeps you up at night from the stress
- culture: HFs are full of cowboys, and quants are oddballs. Together it's a land of misfits. In all seriousness, lots of really intelligent and independent thinkers
- hours are predictable, no travel basically
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