I started summer 2017. I want to recruit for VC/PE but it feels like an uphill battle since I missed the mark on this year's recruiting timeline. I do only PE due diligence at work, which is a plus. I hate being underprepared and consulting in hindsight was a mistake (I figured it would be easier to move to VC/PE and I could just skip the horrible IB part). I mean, I'm not a dummy who couldn't get a job in IB -- I was cum laude from a target --
so I feel really stupid and like I'm falling behind in a marathon at only mile 2. Should I just bite the bullet and recruit for banks this summer or get referrals to interview now?
Bonus question I guess, a little too specific, I'm in a sector specific group at my consulting firm, and want to move to the same sector specific VC/PE. Should I try to recruit for a bank that has a sector coverage group?
Hey Making Gravy, I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:
If we're lucky, the following users may have something to say: bojumbo92 justin1 Jeffrey-Gordon
If those topics were completely useless, don't blame me, blame my programmers...
Bump
If you’re interested in MM PE, there are a lot of consulting-friendly shops. See this thread: https://www.wallstreetoasis.com/forums/consulting-friendly-mm-pe-firms
If you’re looking at MFs, there have certainly been successful transitions (but largely from MBB, and doesn’t happen as often as banking). So if you’re looking at MFs, you could consider doing a lateral to IB first, and then recruit for PE. I’m not familiar with the recruiting cycle on PE for IB analysts that are laterals and spend a bit more time, though if you only just started in 2017, I’m not sure if you’d get credit for your time in consulting. I’ve seen people get the credit for say CF advisory in Big 4 + audit (as in they come in as second yrs), but less than one yr consulting, you’d probably go in as a 1st yr IB analyst.
As for “falling behind”, I wouldn’t worry too much about it. In the grand scheme of things with regards to your career it’s a year. A lot of people pivot after they try something and decide it’s not for them. Moving to MM PE, or IB then PE is possible. Also, if you plan on doing the lateral to IB, you can pitch having both IB and consulting experience provides you a more well rounded profile for PE - big picture perspective + deep dive analysis / valuation / modeling.
Top 10 MBA?
No.... At least not without pre-MBA PE experience. Typically people going to PE post-mba have pre-MBA experience. Not to say it doesn’t happen, but it’s not that common. And even for people with pre-MBA PE experience, they still have to look around and hustle.
I’ve seen CPPIB hire people without pre-MBA PE experience out of top US programs (T7), and I’ve seen them take people with strong prior banking experience post-mba. But I think it’s because CPPIB has been growing for some time and has slots (assuming Americans/others are cool with most likely their Toronto office). But MFs will want people that have the prior exp, and with MM funds, it’s if/when they have a need. Summers at such shops may not translate to a slot for FT.
If you don't mind me asking, are you at MBB or a lower "tier" consulting firm? I think that makes a difference here
I’m at a tier 2 consulting firm in a PE DD practice
My understanding is not that consulting cannot lead to PE, but a certain tier of consulting cannot. As in, if you were at MBB, you would not be having the same issue.
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