Out of curiousity..Consulting into IB into PE - possible? In IB currently
**Experience **
2.5 years of consulting (mix of operational, restructuring & IT strategy) at think PwC, Deloitte. Post this, I made the switch into BB LevFin (2 years here) think JPM,GS,DB. I'm currently a top bucket analyst.
In order to switch from consulting into IB, I studied for a masters in economics from a school well known in this field. However, as it was not an MBA, I had to start as an Analyst.. which was pretty annoying. I work in Europe, with experience in working in Asia as well.
Though I like my banking job, I'm pretty sick of all the regulatory BS & internal control processes that I have to manage on every deal as the junior most member. Plus, having worked in levfin, I've started to gain interest in PE for all the obvious reasons..
Question
How do you guys think I stand in regards to PE recruitment at megafunds?
Thanks
Why are you only interested in megafunds?
Given your background and your focus on megafunds, you will probably have to aim for associate positions. Keep in mind that you will most likely still be one of the most junior member in your future PE fund, unless you are able to spin your career very well. It will also depend on your fund's investment strategy and how lean their teams are, but I'd say that it will probably be quite hard all in all.
Oh, I stated megafund mainly as a barometer of difficulty, since their the toughest to break into presumably.
Can you explain a little bit more about your transition and how you jumped ship from IT in to Fin? Currently in a similar situation EU Big 4IT Consulting as well.
Top notch uni, a little networking, some luck and a bit of compromise in terms of starting from scratch again.
I know I'll be in either IB or a buyside role for the rest of my career, so starting from scratch wasn't that big a sacrifice. I'm a lot happier with my day to day work now than I ever was in consulting
I think your chances are decent, but keep in mind that there are only a few MF positions in Europe so competition for those is fierce (and not going to lie, there are some PE professionals that will be put off by the fact that you went to a 2nd tier consulting firm straight out of college while your consulting experience could be valuable for others). You are 100% getting in as a first-year associate though.
Megafunds is likely going to be very difficult. But MM PE is definitely possible. And if you're sick of regulatory and internal control processes, you're going to be very upset when you move to PE. Doesn't get much better...
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