My background: I graduated from top 15 U.S. university in spring 2015 and began my career as an analyst at [think&O / ] in fall 2015. I've had a positive experience thus far at the consulting firm and could see myself staying there for a few more years, going to business school, and returning for a few more years before heading into a different industry or to a different consulting firm. However, I'm very interested in private equity (PE) and just received an offer from a local mid-market PE / PE advisory firm.
Major pros of joining PE firm:
- Opportunity to work in the PE space prior to business school, which is quite rare as I understand
- Increased level of interaction with clients and more responsibility over deliverables and workstreams
- Higher compensation (25-40% increase)
- Join a small, tight-knit team of 10-20 practitioners
- Reduced travel schedule and potentially enhanced lifestyle due to less working hours, spending every day of the week in the same timezone, etc.
Major cons of joining PE firm:
- Potentially no financial assistance for business school
- Leaving tight-knit analyst class
- Decreased mobility related to residence (the consulting firm has offices in every major American city and would most likely allow me to eventually move to [think NYC, Chicago, SF, for example] if I wanted to; the PE firm has one office in the U.S. and one in Asia)
- Limited travel perks (say goodbye to hotel and airline status & points)
Should I accept the offer? Did you or do you have friends who spent time in PE after consulting? How do you / did they feel about their experiences?