CDD consulting exit

Question

Hi community,

I'm about to work in a small consultancy in the US in its CDD practice. The firm is really small and doesn't have a strong brand name, but we have many big clients(PE mega funds), interesting projects, and tier 2 level salary. I wonder how hard it is to break into a reputable PE shop after 1 or 2 years at the firm, as PE is a potential exit option for CDD consultants. Or if it makes more sense for me to switch to a bigger consultancy(Bain, LEK, etc) and then make the switch to PE? Thanks.

Answer 1

Hi there,

I think this is an interesting question that may be relevant for many people. I would be happy to share my thoughts on it:

First of all, I would highly advise you to focus on onboarding with your future employer first before thinking about when and how to leave again. While it is good to have mid- and long-term goals, I feel contemplating the next step after your next job might be rushed at the moment.
Moreover, I would advise you to simply try when the time is right. If you get rejected without being invited to the interviews, this will be a clear indication that your profile is not strong enough, and that you may need more work experience, a more reputable employer (which is something I feel most people overestimate), or both.

If you would like a more detailed discussion on how to address your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

Answer 2

Hi there,

Congratulations on the offer. In terms of you question:

Q: I wonder how hard it is to break into a reputable PE shop after 1 or 2 years at the firm.

Very difficult to say without knowing which is your current firm.

In general you can check exits for different companies as follows:

Look for alumni of the target companies on LinkedIn
Check how many moved to your preferred exit in your target region
Normalize for the size of the companies in the region

Best,

Francesco

Answer 3

Hi there,

you will have a better view on that once you have worked for your new company for a while. It also depends on how much direct client exposure you can get.

Do you get to interact with your clients a lot and get the proper facetime or are you just kept in the backoffice to grind and hustle?

Consider, your clients might become your future employers if you can build the right relationships. So there is not necessarily a need to first switch from a small CDD shop to a bigger CDD shop to then land where you actually want to be.

Good luck

Answer 4

Hi there,

I think it is possible but would not be very easy as the PE funds would usually prefer MBB consultants, especially BAIN as they have the strongest CDD arm (PEG).

I would suggest to try to get as much client exposure as possible at your current firm and try to establish good relationship with the client/ do a great job (if you will have enough exposure, depending on your level and the team setup there). That would be the easiest way to move to one of your clients.

If you find it difficult to switch, you can try to break into MBB (esp. Bain) to improve your chances. I certainly see lots of people from my team moving to PEs.

Best,

Lilit

Answer 5

Hi there,

You have a job.

You're going to work there.

Why don't you just fully commit to it and enjoy it?

Cross the PE bridge when you get there, especially since you are clearly already commited to this firm.

And, remember, the answer to these question is really the same regardless of the type of switch: any switch is hard. Any switch is do-able if you get a killer resume, plan ahead with relevant experiences, and network effetively.

Answer 6

Hi there,

I'll say it really depends on the firm you're actually with, its recognition in the industry, and where in PE you want to end up eventually.

Generally speaking, of course it helps to have worked in a PE / PIPE practice of the big firms (Bain, BCG, LEK but also others), as PE firms know what they get, when hiring from those firms. That said, many small and mid cap funds do hire from smaller CDD shops, especially they if they frequently to work with such firm. So it's really hard to say what's better without further context.

Hope this helps - feel free to reach out via PM and share your current employer, if you'd like to get more specific advice.

Regards, Andi

Answer 7

The easiest way to answer this is to talk to people in the pe shops you're interested in and get their point of view

Answer 8

Just look where the former employees of your firm went to (LinkedIn). That's the only way to get a good answer to your question.

Answer 9

Hi,

Sharing some perspective having worked in BCG's PE practice.

Typically it is difficult (not impossible) for consultants to jump to the deal team. IB is still their preferred profile. The longer you stay in consulting, the harder it is to make the switch to deal team.

If you are talking about ops/value creation, then consulting is a more preferred background for this role.

Based on what I see for the top PE shops/MF PE in Asia, most of the ex-consultants in PE (either deal team or ops) come from MBB. For MM PE, I have seen some profiles from Big 4.

So i would say yes, it will be easier to go from MBB.

Answer 10

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