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How can I switch from corp strategy (healthcare) to corpdev/m&a consulting? Doing MBA in Germany now.

Bain & Company corporate development Private Equity
Neue Antwort am 5. Aug. 2023
7 Antworten
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Anonym A fragte am 6. Juli 2023

Hello all. I am a current MBA student in Germany (one of the top bschools here, but still a non-target consulting school), studies are going well. I want to pivot from corp strategy (in healthcare org) towards corpdev and M&A consulting, focusing on strategic deals. Example would be corpdev team in a large firm, PE consulting, VC/Corp VC team.

I really want to focus on strategy, corporate portfolio, acquisitions; and I wonder if i could apply to generic PE or consulting roles, e.g. Bain PE, but add in that I can specialise in healthcare investments if needed. Does that work? Not all consulting firms/funds would have a healthcare portfolio.

 

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Sophia
Experte
antwortete am 6. Juli 2023
Top-Ranked Coach on PrepLounge for 3 years| 6+ years of coaching

Hello,

My #1 piece of advice for you would be to network. If PE or consulting companies do info sessions at your school, go to those and talk to people. If not, see if there are events in your area and go to those, cold email people to ask for a coffee chat. It's great that you know exactly what you're looking to do - the next step will be to reach out to people to understand what kinds of roles and opportunities are available for someone with your background and interests.

Regarding your question about applying to generic PE/consulting roles and explaining that you can specialize in healthcare, you are spot on. It's a good positioning as a candidate, but make sure that the firms you apply for who you pitch yourself in that way to work with healthcare clients. If not, tailor your pitch accordingly.

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Ian
Experte
Content Creator
antwortete am 6. Juli 2023
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Well done on getting the MBA. This is a very helpful step!

Make sure you follow their recruiting channels, including application drops, networking events, etc.

Now, to optimize your chances:

  1. Get as strong a resume as possible (tailored to consulting)
  2. Get some “easy” consulting-related experience (can be done on the side, especially through MBA experiential learning programs)
  3. Network a ton

Here are some more tips (fulltime tips essentially same as internship): https://www.preplounge.com/en/articles/how-to-get-a-consulting-internship-tips-and-tricks

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Cristian
Experte
Content Creator
antwortete am 6. Juli 2023
#1 rated MBB & McKinsey Coach

Hi there, 

You have a cool profile!

It's somewhat difficult to give you really targeted feedback about crafting your story without having all the details on your background, but high-level I would say the following:

1. The fact that you're doing an MBA is sufficient enough to enable an industry transition. That's what MBAs are for and it's great that you're doing one. 

2. Use the MBA to collect any sort of evidence that you're interested in corpdev/m&a - that means getting involved in anything that is associated with these topics so you could then have them on your CV and be able to talk about your experiences of being involved in these 

3. Start networking with people from your target firms. Don't set high expectations from these discussions and instead approach them with curiosity. Here is a guide on how to do this effectively and potentially land referrals in the process:

4. Develop a good application strategy early on. Apply broadly. Apply sequentially. Have an amazing CV and Cover Letter and consider working with an expert to make sure that you're within the top 10% of candidates. Here's another resource on how to set this up for success:

Best,
Cristian

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Francesco
Experte
Content Creator
antwortete am 7. Juli 2023
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

Q: I want to pivot towards corpdev and M&A - large firm, PE consulting, VC/Corp VC team. I wonder if I could apply to generic PE or consulting roles.

For sure you can try - applying as a fresh MBA should help with some of the options.

  • Consulting should be the easiest, as you might join as a generalist and then specialize in due diligence / PE. After a few years there, you can try to move to PE.
  • PE is very competitive so if you don’t have a background related to PE/M&A already it will be tough to get into – although not impossible.
  • VC is quite different from PE and consulting and even more niche. You can still get in of course but I would double down on networking for that (it took me 3 good months of networking to break into).

I agree with Udayan that doing IB for a few years is probably the easiest way to then move to PE/M&A. You don’t have to pick one option though – you could apply to both IB and the roles above and then pick the best you can get.

In all cases, I would recommend a referral. You can find more on that at the links below:

▶ How to Get an MBB Invitation

▶ The Exact Steps to Get a Referral

Good luck!

Francesco

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Anonym A am 7. Juli 2023

Franscesca, your answer really makes sense, and covers all the strategic options I have in mind. Thank you for the links, which I will explore.

Daniel
Experte
antwortete am 6. Juli 2023
Ex-Bain | Effective case prep for DACH & Middle East | Offers from 5/6 recruitment processes (3 regions, '20 & '23)

Hi there,

great profile and congrats of pursing an MBA. Also interesting that you want to switch from corp strategy to consulting, it's often the other way around.

To answer your question, Bain does typically not allow for specialisation (after MBA) as they prefer a generalist approach. You might not even end up in the PE practice. You could try to focus on other firms that allow specialisation (LEK might be a good fit) and then network your way in. You could also focus on general M&A consultancies and specialise on healthcare once hired (which will likely happen by default, given your background). 

Either way, I would refrain to apply without referral / head hunter since you are not recruiting through the MBA recruitment channel and for a mid-level position. 

Hope it helps as a starting point. Happy to elaborate on each point and let me know if you have more questions.

Best,
Daniel

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Anonym A am 7. Juli 2023

thank you so much! Yes, the grass is greener the other side...I like corp strat, tbh, but it is more focused (less diverse cases), "slow" and limited to that company. I thought consulting/M&A would be a good diversification strategy for my career. I will network and if needed will reach out for your perspectives.

Udayan
Experte
Content Creator
antwortete am 6. Juli 2023
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

If you want to do corp dev and PE type roles, your best bet is to start with investment banking and then pivot to corp dev. A lot of those roles need banking skills as they focus more on the model building part and less so on the narrative/strategy part at the junior levels.

 

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Agrim
Experte
Content Creator
antwortete am 5. Aug. 2023
BCG Dubai Project Leader | Learn to think like a Consultant | Free personalised prep plan | 6+ years in Consulting

The best thing is that you have great clarity on what you want to do. So many people lack on that before applying for jobs during their MBA.

Your target profiles should be available in both the options you are thinking. The more you talk to the people from these companies, the more clarity there will be - for both you and them.

Given how scarce and less publicised the roles are in PE domain - networking is going to be perhaps your ONLY bet. Given your clarity, you can perhaps help yourself much more than the campus services.

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Sophia gab die beste Antwort

Sophia

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