MBB to PE mega funds??

Hello, 

That is a great question and actually not asked often enough. 

1. Yes joining MBB in Dubai will enable you to discover a lot about business / industries / functions / etc and to brush up your strategy & consulting toolkit. 

2. MBB path to PE Mega Fund is typically quite difficult 

- You compete with Ex-Bankers / Other PE that have more directly relevant experience 

- View of consultants is that you lack direct Financial Modelling (LBO) / Due Dilligence / core quants competencies 

3- Potential way to bridge going from MBB to PE / Mega PE

- Specialize in PIPE / Due Dilligence practice at MBB (e.g. ring fence) to get relevant & specific expertise

- Do extra certifications / trainings to develop core quant skills (e.g. wall street prep / CFA / LBO modelling)

- If doing an MBA, do internship in Banking mid-MBA to strengthen your post-MBA profile toward PE

- Focus on your network (During & After MBB): Most PE opportunities are not posted online but filled directly by people's network. Developing the right relationship will facilitate a lot your potential transition there! 

Hope this helps! Happy to keep chatting if you have more questions. 

Cheers

Hey there,

Well done getting into MBB consulting! 

Just wondering: Why does PE seems like such a logical exit opportunity if consulting has been your dream and you're having a hard time establishing a link to PE? 

It's certainly attractive from a benefits perspective (and a very interesting job in general - don't get me wrong). Regarding the nature of the job though, there's generally not too much overlap.

Three important factors come to mind:

• If PE is what you want, get plenty of DDs under you belt! They are tough and lots of people would rather not do them, so you'll be able to break into that area very easily.
• If you have a target industry, become an expert in that industry - as opposed to jumping around too much, which MBB consultants do a lot of. This will come in handy for industry specific PE work.
• MBB have very active global interest groups and, through a bit of networking, you will be able to do some relevant extracurricular things in whatever area you're interested in (and ideally with time, dedicated and relevant projects that are not just DD - they will drain you too much).

All the above means A LOT of work! But that's life in MBB and I wish you all the best!

Dear candidate,

a) from an MBB firm it is fairly easy to switch to PE, compared to many other career switches. So definetely easier than if you had worked in industry before. In particular since if you work for MBB you can join their PE practices and get a head start doing due diligences already. 

b) However the entry is easiest at junior levels at the fund (so it is “easy” to enter as a PE associate/analyst and more challenging to join at below-partner level, but of course the more MBB experience you gain the better. 

c) I would just advice to really understand what working in PE feels like first, for example once you are at a fund it may be difficult to switch to another fund in case you dont like it where you are, there is much less career mobility. It is a great, challenging, stimulating role, but think whether it makes sense for you long-term. Some funds also expect you to work as an interim manager more than others do and you get to do less analysis work and a lot of hands on work with extensive travel stays. It depends on the firm. You may actually enjoy consulting so much, that you do not need to switch at all. Of course, if you love PE, go for it.

Best regards,

Charlotte

Hi there,

First of all, congrats! :-)

It is possible but not a standard career move / switch, hence a bit more difficult.

My two tips on how to maximize your chances to pull it off:

1. In your MBB firm, dedicate your work and specialize early on in the CF/PE sector (be prepared for a tough lifestyle)
2. Start networking with folks from your target firms early on and build a network over two to three years to get their help and support with the move

I have seen people do it so you should definitely be able to pull it off if you are laser-focused in your project selection and network building right from the start.

All the best!

Cheers,

Florian

Congratulations on the offer!

As a former consultant (+8 years in Dubai), now into a Sovereign Wealth Fund, I would advise that you make a big push since the first months into getting projects focused on relevant topics for PE and other financial institutions (e.g. quantitative areas such as Corp. Strategy/M&A support/CDD…), and try to get a less exposure to certain government projects (which are way more qualitative) 

From what I have seen, the edge that consultants bring vs. bankers in PEs is to combine both the investment and strategy perspective (while bankers have only the former).

Happy to address additional questions on that!

That move is not very easy. Indeed you will have to resort to extensive and intensive network - and start right away planting the seeds, while you don't need them.

Congratulations on the offer. Dubai also has great varied work experience at MBB, I would not worry about competing with London etc. in terms of the depth of experience.

PE firms do recruit from MBB but not as much as from I Banking because they typically need people with a lot of hands on DCF modeling experience which you get in Banking. If you are very keen on PE, I suggest you try and do as many due diligence studies as you can during your time at the MBB firm. Once you have a few of these under your belt you will be a lot more attractive candidate for PE.

All the best,

Udayan

It's a very competitive move and so starting to network early as well as getting some deal experience is always a good idea.  I've had the sense that Dubai has very limited large cap PE opportunities.  You might need to find an intermediary step in London/NY/SF to be considered a serious candidate.

Hi there,

So the honest answer is that it's do-able but not common/easy. If you truly want to make that switch, Bain is a better option AND focusing on PIPE and DD is the way to go. Make sure to get exposure to topics that will make your resume logical for a Mega Fund to hire you!

Hello!

I know someone who did it, but this person was extremely focused from the very beginning in McK in PE cases, and built the right expertise and network. 

That is the key, I recommend doing the same from minute 1

Hope it helps!

Cheers, 

Clara