I'm currently a consultant in a post-MBA role at one of MBB. Recently I rolled off a performance improvement case for a private equity backed client. The case involved working with both the management team at the client company, and with the investment team that sourced and executed the original deal. Based on this (admittedly somewhat limited) exposure to the world of private equity I think that this could be a potentially interesting future career direction. As someone who took a very non-traditional path to my current firm, I'm acutely aware of the role that path dependency can play in finance & consulting careers (right school, right early career experience, etc...) so I'm looking for some tips related to how to set myself up for a transition into the private equity field 2-3 years down the road.
Has anyone on this forum made the transition from a post-MBA role at a top tier consulting firm (MBB, Parthenon, Monitor, etc) into private equity? What's the best way to get smart regarding PE careers/recruiting? Other then working the staffing process to maximize my exposure to private equity clients, any other tips for networking? Are there any PE related professional associations it might be useful to join?
Thanks in advance
Bump for any input.
Glad to offer up advice/information re: consulting at MBB in exchange.
It's possible but not the norm, unless you have previous experience. I dated a guy once who did McK --> small PE --> b-school --> McK --> MM PE. I think he just went through a headhunter but private equity shops very rarely recruit at post-MBA levels unless you have some experience. Post-MBAs are usually pretty expensive and sometimes have entitled attitudes.
I'd imagine some of the more traditional 'feeder' shops that normally take consultants would be a good place to start (Bain Cap, Golden Gate, Audax, etc.).
You may be able to get in by playing consultant to a portfolio company and then transitioning that way.
Thanks for the info HerSerendipity.
Unfortunately, I have no previous PE experience on my resume. Prior to business school I was purely a science/engineering guy. On the other hand, as a result I definitely don't have an entitled attitude either. Quite frankly I still shocked that MBB are willing to pay as much as they do for what is really relatively simple work (under tight time constraints and heavy pressure, but still). I'd gladly be willing to work for a smaller financial reward if the job was challenging/stimulating enough.
A couple of quick follow-up questions:
1) Are there any headhunters which deal primarily with post-MBA level candidates?
2) Assuming that I'd be looking to make the switch in 2-3 years time, how long in advance would I need to start interviewing? Do PE firms hire a year in advance like consulting firms do, or do they primarily do just-in-time hiring like the rest of the world?
Thanks IU Hoosier. Very informative article.
@reset, would you be able to share any private responses you received? I am in a similar situation. Many thanks
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