{ "media_type": "text", "post_content": "I’m looking to exit into private equity after 2 years in consulting and will be applying this cycle. Does anyone have any materials, advice or best practices they would be able to share? Thanks!", "post_id": "5b9a0a512ecc73001471b157", "reply_count": 6, "vote_count": 4, "bowl_id": "5ae4a4f739e7cb001391ec8b", "bowl_name": "Consulting Exit Opportunities" }

I’m looking to exit into private equity after 2 years in consulting and will be applying this cycle. Does anyone have any materials, advice or best practices they would be able to share? Thanks!

likesmarthelpful
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^you said so much without even coming close to answering OPs question - quite impressive! OP I would check out Wall Street Oasis if you haven’t already. Mergers & Inquisitions might have something but they’re more IB focused

likefunnyhelpful

Wtf is that title @we

likefunny

“Private Equity” has huge variability of opportunity driven by role (deal vs portfolio), size/sector focus, fund performance, etc. Break the assessment process down into two parts: 1) The work. Start with Glassdoor to see what people have been willing to share. For small firms, probably not a lot. You are much more likely to get a candid perspective via direct conversations. Don’t be shy about using your college/business school network to find someone willing to answer your questions about the day-to-day reality, and what it takes to be a star. 2) the rewards. Your probably not moving for base/bonus; you want your fair share of the Carry, which still gets capital gains treatment for tax purposes. It won’t be easy to get solid data on private fund performance, but you will want to build your own assessment of how that critical layer of your comp package will perform. As you get deeper in the process, ask about the mechanics for the relevant funds. Sometimes LPs get a guaranteed return before the GP starts to earn Carried Interest. This can impact both the absolute value and timing of payout

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To not waste anyone’s time, make sure your technicals are rock solid to start. Concurrently when your story is nailed down get in touch with every recruiting firm out there. There’s a good list on wso if you just search for PE headhunters

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Also, be prepared for the process to kickoff by mid November. I went through last year when it started in December and was caught off guard. I ended up with an offer, but I was way under prepared on the technical side.

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OP - if you started in consulting from UG this year, my advice is that you’d be a better candidate if you waited a year (unless you did an IB internship and / or are doing some DD / corp fin work right now). You’ll be a much better candidate in a year’s time. +1 on the modeling piece but only to the extent that you’re able to produce a functional LBO. It’s no secret that you’ll have worse technical skills than a banker at first. Don’t necessarily kill yourself over that.

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