MBB Consulting to Growth Stage Investing Offer - Confused!
I'm a BA/associate consultant equivalent at MBB (~1 year into the job) and have an offer to join the growth investment team (~$30 Mn cheque sizes) of a tier 1 fund (think Accel/Bessemer/A16Z). The role is a 2 year pre-MBA role (very little chance of conversion to a track role) and previous analysts have secured admits at HBS, GSB.
I'm confused about the decision for the following reasons:
1. Deal experience: The fund I'm considering has made only 1-2 new investments over the last year, and have not been bullish on growth stage investments. There is a high likelihood I only get to see a single deal or no deal during my tenure. I'd like to understand how this will impact:
- Exits to other VCs (will they prefer someone with more deal experience?)
- Learning (will it be limited to sector research and theses, but no live deals?)
2. Alternate exits: My understanding is that I don't have a strong candidature to move to PE from consulting. 3 tier-1 funds have so far not shortlisted me. Would it be a better option to move to a tier-2 PE fund and work my way up from there? This option would guarantee deal experience and learning, with key trade-offs being comp, and MBA exits (should I decide to pursue an MBA)
If yes, is it wise to reject the current offer, and/or continue interviewing with other funds?
Further context:
I'm unclear about my MBA goals at the moment, and am considering the decision assuming that I will not pursue an MBA. My primary motive for this move is to understand if investing is the long-term career for me, and to learn investing from some of the best in the industry.
I am to pursue one of the following post my VC role:
- Exit to another Tier 1 fund in the same industry (or possibly move upstream to larger ticket sizes. A full-fledged PE exit is not possible from what I understand, but there are funds that deploy capital from early stage to late stage)
- CEO's office or another strategy role in a Series B+ startup or a larger corporate/technology company
- Return to MBB (the partners have liked me and have told me this is possible)
- Stay in the same fund if a track role materialises
Would appreciate any inputs on both of the above questions, and in how I should be thinking about such a move. Thanks in advance!
Based on the most helpful WSO content, here are some insights to help you navigate your decision:
Deal Experience and Impact on Exits:
Alternate Exits:
Considering the Current Offer:
Post-VC Role Considerations:
Final Thoughts:
By weighing these factors, you can make a more informed decision that aligns with your career goals and aspirations.
Sources: [Experience] Road to PE - Investment Analyst in a MegaFund, Doing a second pre-mba Associate stint at a larger PE firm, Moving Upstream in PE, A Tale of 3 Offers: What should I consider?, Would you leave in this situation?
Dude you have the dream offer at any of those three firms. I personally would do it 100%, life is too short not to. You'll look at the most interesting deals in the world with a semblance of WLB and then walk into a top MBA. Don't think for a second you'd be better off at a T2 PE shop.
How did you get the offer and what was the interview process like?
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