Hi there,

First, good luck with the transition!

Second, leverage your network. These are all great questions (and excuses) for talking with consultants as well of those who made the switch.

1. What is the equivalent associate role in private equity and equivalent consultant role?

It's going to depend on the firm and where they see you. Get talking to them!

2. What is the best time/level to transition from consulting to private equity? I’m trying to weigh leaving BCG at senior associate level vs at consultant level 

I'd actually say consultant level. But, ultimately, it's when your networking reveals there are open roles and someone will refer you.

As in…when you CAN (if you want to now)

3. How much would my tenure at BCG count in terms of the role I would be eligible for at a PE firm? Would I be going into the entry level role or something els?

The more years, the higher the tenure. Don't overcomplicate this :) But, of course, they're not perfectly transferable skills, so, you need to expect a lateral or downwards move. Depends on the firm and how well you recruit/interview

4. Would I be expected to PE take a pay cut if I transition from BCG consultant level?

Totally depends on the firm.

5. Is there a preplounge equivalent for private equity application?

Leland has a wide range of coaches. Wall street prep is another off the top of my head

Hi there,

These are all great questions and I would use them as discussion starters for networking efforts with relevant folks in PE.

1. In private equity, the equivalent role to an associate in consulting like BCG is often an 'Associate' as well. For a consultant, the closest equivalent could be a 'Senior Associate', depending on the firm's structure and the individual's experience.

2. The optimal time to transition from consulting to private equity varies. Transitioning at the senior associate level can be beneficial for gaining more responsibility early in your PE career. Transitioning at the consultant level might offer a higher position and potentially more strategic input from the start. Generally, it is easier to transition at an earlier stage of your career.

3. Your tenure at BCG will be valued, particularly in terms of the skills and network you've developed. You're likely to enter at a level above entry, but this depends on the specific PE firm and the relevance of your experience. The more time you have spent on PE projects at BCG the better for your story of course.

4. You would earn more due to the bonus structure. For exact figures, I would check Glassdoor or levels.

5. There isn't a direct equivalent of Preplounge for private equity. However, there are resources like Wall Street Oasis, Mergers & Inquisitions, as well as networking groups on LinkedIn, as well as mentorship programs, and forums that focus on private equity careers.

All the best with the move!

Cheers,

Florian

(edited)

Hi there,

First of all, congratulations on your career trajectory thus far!

I would be happy to share my thoughts on your questions:

• First of all, the equivalent roles in private equity generally align with your experience level. For a 2nd year associate at BCG, you might look at Analyst roles in PE.
• Moreover, the best time to transition from consulting to private equity depends on your career goals and the opportunities available. Transitioning at the consultant level might offer more leverage given your experience and network. However, transitioning earlier can give you more time to grow within the PE industry.
• Lastly, your future salary obviously depends on the PE firms you apply to (and potentially any negotiation skills). However, I do not know of any equivalent to PrepLounge for PE (or even IB).

You can find more on this topic here: Salaries in the consulting industry.

If you would like a more detailed discussion on how to best prepare for your upcoming transition, please don't hesitate to contact me directly.

Best,

Hagen

Hi there!

I see you've received great answers already. 

I would strongly advise you as a next step to actually have conversation with people who are in private equity. This way you can learn directly from the source, develop your network and even find out about job opportunities in this space. 

One starting place is to look at people who have moved from your firm and office into private equity and understand from them how they made this transition.

Best,
Cristian