PE Consulting / General consulting

Hello, 

Very interesting question indeed! 

To start, for most MBB offices, you can express interest in the “PE” practice (or ring-fence) but they do not directly recruit only for the practice (vs Digital practice). You can then specialize within your “Generalist” role in the “PE” practice (generally well-received as they are always looking for more people). 

1. Selection Process: The interview process would be the same as typical interviews as you are still interviewing for Generalist role. I wouldn't expect specific PIPE cases. 

2. Prestige: 
- Internally: Within the MBB, the “PE” practice is not more prestigious than any other | more a question of interest. It is although regarded as “more difficult/intense” due to the shorter & rush nature of DD projects. 

- Externally: If you have a broader career interest in moving toward PE industry, then it will definitely be more prestigious in addition to bringing more relevant experience (Deal flow / pace / wide variety of projects / dealing with PE firms as clients) 

3. Move to PE practice: As mentioned above, it is typically a preference toward a practice rather than an “official” affiliation. You will become a core member of “PE” practice which is different than being “GAMMA / QUANTUM BLACK / DIGITAL”. Perception not really impacted, more a preference same as selecting an industry practice (e.g. retail). 

4. Move out of PE practice toward Generalist: 100%. As you are still a generalist vs expert track, you can always move to other practices. In any MBB, the key is to be strong performer to be able to select whatever option you want ;) 

Advice: If you want to leverage your interest in PE practice to increase your chances to join MBB, I would recommend networking with PE Practice leads in your target offices that will then push your candidacy as they will want motivated PE Enthusiast to join. => Next step, ace that interview to get the job! 

Best of luck in your recruiting process ! Happy to keep chatting if you have other questions. 
Cheers,
Nicolas

Hi there,

Great questions!

Let me take them one by one. 

Selection process - I would expect it to be more difficult to pass the screening because you should prove some sort of experience or background in PE, but once you get past that it shouldn't differ. It might actually be easier because there's less competition than for the generalist roles. 

Prestige - I wouldn't say it's more prestigious to be part of a practice than being a generalist. If anything, it restricts a bit your possibilities in terms of staffing. 

Moves - Yes, most people start as generalists and then you can ‘try out’ the practice in a 6 month cycle. If you like it, then you can transition there more long-term. You can also transition out. That's totally fine. 

Hi there, 

first of all PIPE/PEPI are usually the fastest moving cases and you may work even harder than a “regular”/generalist. 

To answer your questions:

1. Recruiting process is the same

2. I dont think there is more prestige for a specific center

3. you can do move from Generalist to PEPI/PIPE

4. Yes usually it is possible to switch to other type of the projects unless you are entering expert track

Lucie

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Hi there,

First of all, try to not think in such a narrow/limited window - do what you want to do! The more you try to game the system the more you'll just be disappointed :) Figure out what you truly want and then chase that!

- Is a selection process harder for a specialised team compared to the general track? E.g. ratio of applicants compared to places available

Yes and no. It's harder to pass screening (you need to show genuine expertise+experience) and the interview can be harder (because you often need to be ready for both generalist and specialist cases), but the pool of candidates will be lower. Try not to play this game as the numbers are going to constantly change across office, time period etc.! optimize YOU.

- Is it more prestigious to be in a “PE” team given the hot PE environment and does it boost one's CV? 

No.

- On average, do consultants from inside tend to do generalist → PEPI/PIPE/PE consulting move and how is this perceived internally? 

“Tend to” isn't quite right, but it does happen. I had a colleague or two who did this. It's perceived like any specialization move - i.e. it's “natural”

- If I don't like it there given mostly CDD nature, would it be possible to move within the firm to become a generalist?

You can probably move back but it is easier to go from generalist to specialist. Less so the other way around

The selection process is largely the same. Obviously you should expect some case that is related to investment analysis, PE, and CDD.

It is not more prestigious to be in the PE practice. Actually, I would say the opposite. Most of what you do is just CDD, where most of the work is really boring and repetitive. 
You will not get some operational acumen in being a member of a PE practice.

PE practice professionals are going to do generalist projects once they are not in PE practice. It will be possible for you to move to other practices.



 

For McKinsey, I've seen plenty of successful cases for both paths.  Fundamentally, it comes down to how well you understand PE in terms of personal fit, structuring an LBO model, and formulating diligence questions. 

Moving from PE-dedicated to generalist is extremely rare whereas, for offices where PE is a significant portion of the client work, you can do as much PE as you like as a generalist.  I have seen many PE-dedicated consultants leave because of exactly this.  Based on high demand in many offices, statistically, it's usually easier to secure an offer but the bar is broadly the same.

Good luck!

Hello!

Not to repeat what others have said: both are extremely competitive processes, and all the questions you are making make a lot of sense, BUT the key thing is first to get it. 

See in which one you have the highest chances (for CV, previous knowlege, ability to shine in the interview process) and go for that, and later take it from there. 

Cheers, 

Clara