I’m at McKinsey in consulting right now but want to move into PE. What's the best way to position myself? Are the expectations higher in the interview and should I prep differently than for the case interviews I went through to receive the McK offer?
Thanks a lot!
Hey! Great question.
The expectations in PE interviews are definitely different from consulting ones. While problem-solving and structured thinking still matter, the focus shifts much more toward financial modeling, commercial judgment, and whether you can think like an investor.
To position yourself well, highlight how your consulting skills translate into evaluating businesses, working with data, and communicating insights clearly. For prep, go beyond traditional case interviews. Focus on LBOs, investment theses, CIM analyses, and understanding what makes a good deal. It’s a different angle, but with the right prep, totally doable!
Transitioning from McKinsey consulting to private equity (PE) is a well-trodden path, but it requires strategic positioning and tailored preparation due to the competitive nature of PE recruiting. To position yourself effectively, leverage your McKinsey experience by emphasizing deal-related projects, such as due diligence, M&A strategy, or operational turnarounds, as these align closely with PE’s focus on value creation. Highlight quantitative impact—e.g., “Drove $50M in cost savings for a client through operational restructuring”—and showcase your ability to think like an investor by tying your work to financial outcomes. Network aggressively with PE professionals through McKinsey alumni, LinkedIn, or industry events, targeting middle-market or growth equity funds, which are more open to consultants than mega-funds. Secure referrals to bypass initial resume screens, as PE firms often prioritize candidates from top-tier banks or consulting firms like McKinsey, with only ~10-15% of hires coming from consulting.
PE interviews differ significantly from McKinsey case interviews, with higher expectations for technical depth and investor mindset. Expect rigorous LBO modeling tests, investment case studies (e.g., “Should we invest in this company?”), and questions probing your commercial judgment, such as assessing market trends or exit strategies. Prep differently by mastering LBO mechanics, valuation techniques (DCF, comps), and industry analysis using resources like Wall Street Prep or Breaking Into Wall Street. Practice 2-3 LBO cases daily, focusing on speed and accuracy, and prepare to discuss 1-2 McKinsey projects as “deal stories” that highlight your financial acumen. Behavioral questions will focus on your drive, resilience, and fit with PE’s high-stakes culture, so weave in examples of working under pressure or influencing clients. With your McKinsey background, you’re well-positioned, but success hinges on demonstrating technical fluency and a genuine passion for investing.
Interviews in PE are more technical in nature than in consulting. You will need to build LBO models, do accounting and make investment decisions. They know you can think structurally, but you need to show an investor mentality. If you have worked in PE at McKinsey, you should emphasize this. Prep will be tougher, so extra practice helps.
