Recommendations on how to transfer from a mid-tier Consulting firm into Private Equity

consulting Private Equity
New answer on Feb 28, 2021
8 Answers
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Anonymous A asked on Dec 16, 2020

I'm currently an analyst at Huron Consulting Group and am interested in going into Private Equity. Given the competitive atmosphere behind PE recruitment, how can I stand out since PE prefer consultants from larger consulting firms (MBB or Big 4) and banking backgrounds? Should I apply to MBB first and then go into PE? Would getting an MBA while working at Huron help my chances?

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Udayan
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updated an answer on Dec 17, 2020
Top rated McKinsey Case & PEI coach/Multiple real offers/McKinsey EM in New York /6 years McKinsey recruiting experience

I am very familiar with Huron.

The reality is going from Huron to PE is severely limited - you would most likely have to only look at healthcare funds and even there you would need to look at the lesser known ones as the others have their pick of candidates.

Going into PE at this point would require an MBA. I would NOT recommend doing a part time or executive MBA, those are not great for MBB. Aim to go to a top 8 full time (2 year) program in the US and you will have a good shot at making it into PE.

Best,

Udayan

(edited)

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Adi
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replied on Dec 17, 2020
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Hey, this move will be very difficult at this stage from Huron and also given COVID uncertainties. Consider following options:

  1. Stay put for little longer at Huron and try and get into a large deals project over next 6-9 months and move into a smaller/boutique PE firm after
  2. Apply for MBB or Finance Strategy/Deals teams at Big4/Accenture and get into bigger PE after a few years. Also have a look at Accenture Ventures (their inhouse PE arm)- Accenture is very big on internal PE deals i.e. they are acquiring companies all over the place
  3. Getting into a high perfoming start-up or tech firms (Salesforce etc) can also be great route into PE after few years

I will advice against an MBA unless its from a top 5 school which will open PE doors for you.

Good luck!

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Raj
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replied on Feb 28, 2021
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You could try working on deals/due diligence work at Huron or the Big 4. Alternatively, working in the PE ringfence in MBB would be an attractive entry route into PE.

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Ian
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updated an answer on Dec 20, 2020
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Hi there,

First: I would not recommend going into MBB just to then transition into PE. Seems far too roundabout of a path!

Now, how to do this directly? I have a few tips:

  • Get put onto PE/DD cases at Huron (if possible)
  • Get put onto any form of work that has anything to do with PE
  • Get an MBA
  • Get certification/education in anything PE-related (valuation, etc.) - Aswath Damodaran (the king of valuation) has a $2k course at Stern, for example
  • Network aggressively with PE firms

Some additional Q&As here

https://www.preplounge.com/en/consulting-forum/transitioning-from-consulting-to-private-equity-w-vs-wo-mba-8422

https://www.preplounge.com/en/consulting-forum/from-strat-to-pe-6962

https://www.preplounge.com/en/consulting-forum/exit-opportunities-for-ma-strategy-dd-focused-teams-tier-2-consulting-7450

Good luck!

(edited)

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Clara
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replied on Dec 17, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

A priori I would agree with you that others may have better cards, but yours should not be bad either tbh.

First of all, the key is exhaustive prep for the interview, which is modelling and math heavy.

In order to have a more appealing or aligned profile, you could always do an MBA, that is one of the classic ways to change carreers. However, I have never been a fan of doing an MBA only to secure a job offer that you don´t know if you will get at the end.

Hope it helps!

Best,

Clara

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Vlad
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replied on Dec 17, 2020
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Hi,

Only top MBAs can really increase your chances (I doubt that you can do a top MBA and work in parallel).

What can really help you is networking. I would try to find a partner to work with and do some project work for free.

Best

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Gaurav
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replied on Dec 17, 2020
Ex-Mckinsey|Certified Career Coach |Placed 500+ candidates at MBB & other consultancies

Hi there,

I agree with Udayan.

Based on my experience, I can point out a couple of factors that could help you sell yourself to PE:

  • Master your financial modelling skills
  • Train yourself to spot/calculate the eventual value
  • Broaden your perspective and start think bigger regarding your actual cases, since PE's projects are usually wider
  • As a result, be ready to give up on quality in favor of quantity.

Hope it was helpful. Any questions left?

Best

GB

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Francesco
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replied on Dec 17, 2020
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Hi there,

The MBB brand would help for sure. To maximize your chances while working there you should:

  1. Ideally be staffed on due diligence projects
  2. Find an internal referral (you can find more on referrals here: https://www.preplounge.com/en/consulting-forum/hey-everyonehope-all-is-well-3176)

If that doesn't work, you may target a top MBA after MBB to have another chance applying after it.

Best,

Francesco

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Udayan gave the best answer

Udayan

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