McKinsey & Company Currently a college student and have an offer from a too PE fund. I really want consulting since I feel like I’d enjoy the work more, and I’m also not super passionate about finance - but I didn’t get any consulting interviews lmao.
I was gunning super hard for McKinsey, but just about everyone I’ve spoken to has just told me to stay in PE since the hours are about comparable, but my comp would be higher in PE. Does anyone have any insights? Am I crazy for wanting MBB?
McKinsey & Company Boston Consulting Group @
Rising Star
Go to PE and make a lot of money!
I do think this is completely the wrong insight though. Money can only buy you happiness to a degree - and imo the 1.5-2x in PE is only worth it if you also enjoy the work. Maybe you will, doesn't hurt to try given you don't have consulting offers. But if it's consulting that you're interested in, might be worth applying again in a year or two
Rising Star
You can very likely go to consulting after PE. It’s very hard to do the reverse. I say try it then after a year or two apply to McKinsey if that’s what you want.
Okay, this is actually super good insight - thank you!
Rising Star
I would recommend to do PE as well.
However, your exit ops might be more limited than McK. If you wanna stay in finance, deals, corp dev … then PE is the way to go
Since you might be too young to know what you want. So in case you wanna change your mind, PE to MBB is more doable than the other way around
Okay, this seems to be the general consensus - thank you for the detailed response!
Crazy for wanting MBB? no
Crazy for wanting MBB (no offer) while you have a PE offer? yes
One of the most preferred exits for consultants is PE anyway. Why not just skip the middle step and try it out? If it doesn’t work out, you use the prestige/network etc. to move into consulting or masters degree
Thanks a ton - this is actually super helpful. Really appreciate the response
Chief
You can easily go PE > MBB while MBB > PE is not nearly as easy
Okay this is extremely fair - thank you!
I will be a contrarian here (have experience both in MBB and PE)
I would do MBB or IB as these firms have large scale training and structured on-boarding for more junior folks.
Most PE firms (outside of the largest one) are really nascent in their people process. Not to mention that most PE programs are 2 years only. If you do that, make a few bucks but don’t actually learn and fundamentally do work, it might harm you in the long run.
Thank you for this insight! That was actually one of the things weighing pretty heavily on my mind - the MBBs have a more structured training & staffing process, whereas with the PE fund - it’s not really been through many cohorts.
There are tradeoffs to both (differences in types of work, hours, comp, exit variety), but you're in a very good spot. Plenty of folks would prefer your offer over their consulting offer so I wouldn't look back
Also, if you really don't like it and want to pivot to consulting you'll have multiple opportunities to do that in the next 2-5 years, so I wouldn't feel like the door is closed
Okay, this is actually a super fair point - it still preserves optionality for myself down the line. Thank you for the response!
You got a deal team role from kkr, Blackstone, etc? And you want consulting? Hahahaha
@ Engagement Manager - it’s at a mega fund - but the analyst program is relatively new, so it’s not as comprehensive/structured as it might be at the MBBs
Let’s switch roles
Lol yes please 🥲
All consulting firms have PE practices that you can pivot to
Actually CDD and VDD are probably the best part of PE (leaving aside the salary) - I’m with OP the heavy level of finance (and tax) you need to go into make PE not very appealing
Chief
Do PE. Don’t look back. Well, at least not for 2 years then you can reconsider.