Hey everyone, I am currently running a pre-seed startup in the US. I've been doing it for nearly 3 years and covid is really crushing me. I'm looking to the future and my end goal is to join a PE firm. I have a finance degree from a non-target and some pretty cool startup experience that I am planning on leveraging to get a job with a Big 4 firm.
From what I've read, advisory (consulting) and valuations are the best Big 4 jobs to exit to PE from. Of the two, which would be more desired by a PE firm?
Thanks
Very, very unlikely that you will be able to directly make the jump from big 4 valuations/consulting to PE (unless it's a very unique, likely LMM opportunity). I would try to get a solid 12 months of experience under your belt at one of the big 4 roles you mentioned and then starting gunning for a lateral move into IB. That part of the process alone will be quite difficult, so I want to make sure that it's not understated. Once in an IB analyst seat (hopefully 12-24 months from now), you will likely have a more realistic shot at breaking into PE.
Okay, so if I understand correctly PE wants to recruit primarily from IB. If that's the case, would corporate banking be a better way to break into IB compared to the Big 4 roles I mentioned?
Also, where would an MBA fit in all of this? I'm assuming IB > MBA > PE or IB > PE > MBA?
Thanks
On your first question -- I'd say it depends on the gig... hard to say without getting into specifics. For example, I'd say that working in Big 4 valuations would probably be better than working at some small regional bank's corporate banking practice. Conversely, if you were in the corporate banking group at a bank like JPM and also within a specific/niche sector group (such as lending to energy companies), it would probably be easier to then lateral into an IB group that covers the same sector. If you can make it into IB without an MBA and your ultimate goal is PE, you'll want to get pre-MBA experience at a PE firm before applying to business school. It would not only make your app more competitive when it comes to applying to the top ~10 schools but is also the only way to give yourself a reasonable shot at going back into PE post-MBA.
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