Seeking Guidance for Transitioning to Management Consulting in Private Equity Sector

Question

Hi,

I wanted to seek some guidance and advice regarding my career transition from equity research to management consulting, with a specific interest in the Private Equity sector.

To provide some context, I have several years of experience working as an Equity Research Analyst, and after completing my master degree in economics, I am now looking to make a shift into the world of management consulting specifically for a role in PEPI sector.

I have noticed that the consulting function for PEPI is predominantly located in Madrid and Lisbon within McKinsey. There's a slight concern as I am currently based in Southeast Asia and do not speak Portuguese or Spanish. I'm unsure if applying for these positions would be feasible under these circumstances. Interestingly, I did come across a position for Private Equity Analysts based in Lisbon that explicitly requires proficiency in English, which has sparked my interest. Nonetheless, I am aware that the competition for such positions may be intense, and chances could be slim. Despite that, I am determined to explore all avenues for pursuing my passion in the Private Equity sector through management consulting.

For those familiar with the recruitment process at Bain, I would appreciate any insights on how to apply specifically for an Associate Consultant position within Bain PEPI. I've primarily come across openings for generalist consulting roles on their website, which has led me to wonder if there are separate opportunities for specialized positions in PEPI. Should I apply as a generalist consultant initially and then express my interest in PEPI during the process?

Any advice or personal experiences you can share would be incredibly valuable to me.

Thank you

Answer 1

Hi Nor,

Thanks for your question and glad to hear about your passion and motivation. Sharing some perspectives having helped build BCG SEA's PIPE practice.

McKinsey's PEPI → I'm not sure if you mean that the only openings on e.g. LinkedIn you saw were based in Lisbon/Madrid. McKinsey does also do PEPI work in SEA and in Asia, it's just that there may not be openings right now
If you are based in SEA, you arguably have an advantage by knowing a local language (assuming you are not from Singapore) that can be helpful, especially in the hotter markets like Indonesia
There typically are specific opportunities for PEPI (or PEG in Bain's case/PIPE for BCG) typically works either through a specific job ad (normally on LinkedIn,for BCG), or through experienced hire recruiters (specific people that recruit for practice areas or experienced hires)
- However this very much depends on the demand/state of business, and unfortunately SEA is not doing too well right now. Deal flow is very slow and no one is really deploying capital
You could of course raise your hand after joining as a generalist - for a firm like Bain, it is not uncommon to do a stint in PEG given how big/significant a practice area it is for them

Happy to chat and share more insights on the nature of work/type of projects and interview process - just drop me a dm

All the best!

Answer 2

Hello,

My advice would be to try to talk to some people in the PEPI practice in the office you want to apply to, to better understand their needs and the recruiting process (both consultants to network, and HR reps to understand the application mechanics). Given your background, it seems like you would make a great candidate for PEPI specifically, so I would look out for open positions within the practice and apply for those. If not, it should be feasible to go in as a generalist and eventually transition to PEPI.

Answer 3

Transitioning from equity research to management consulting, especially in the Private Equity sector, can be a rewarding career move. While there may be some challenges in terms of location and language proficiency, it's essential to approach the process strategically and leverage your experience to stand out.

Regarding McKinsey's positions in Madrid and Lisbon, it's worth exploring opportunities even if you do not currently speak Portuguese or Spanish. Many multinational consulting firms, including McKinsey, often have teams and projects that operate in English. Additionally, your expertise in equity research and economics could be valuable in cross-border transactions and investments.

If you've found a Private Equity Analyst position in Lisbon that requires proficiency in English, consider applying for it as it aligns with your interests. Tailor your application to highlight your relevant experience in equity research, economics, and any transferable skills you possess.

As for Bain's Associate Consultant position in PEPI, it's essential to keep an eye on their website for specific openings in that sector. While you may come across generalist consulting roles, it doesn't hurt to apply and indicate your interest in the Private Equity sector during the application process. You can express your enthusiasm for PEPI in your cover letter and use any networking opportunities to connect with consultants working in that area at Bain. Demonstrating a genuine interest in the sector and showcasing how your background aligns with the demands of PEPI can make you a more compelling candidate.

To improve your chances of success, consider networking with professionals working in management consulting and the Private Equity sector. Attend industry events, reach out to alumni, and engage with consultants on platforms like LinkedIn. Networking can provide valuable insights and potential referrals that might increase your visibility during the recruitment process.

While competition may be intense, don't be discouraged. Your background in equity research and economics can bring a unique perspective to management consulting, especially in the Private Equity space. Focus on highlighting your strengths, staying proactive in your job search, and being persistent in exploring opportunities that align with your career aspirations.

Lastly, be prepared for case interviews that may be a part of the consulting recruitment process. Practice case interviews, especially those related to Private Equity scenarios, to demonstrate your analytical and problem-solving skills.

Remember, career transitions require patience and perseverance. Keep an open mind, stay dedicated to your goal, and continue to refine your skills and knowledge in both management consulting and the Private Equity sector. I wish you the best of luck in your pursuit of a career in management consulting with a focus on PEPI.

Answer 4

Hi Nor,

You need to network. Plain and simple.

Talk to people at the firm, specifically in that office and that practice. From those conversations you'll be able to find out what makes sense and if they'll value your application. You'll also discover other options that you had not even considered.

Answer 5

Hi!

Several great suggestions below already, so no need to reiterate them.

I would just recommend that you start networking directly with consultants at Bain in your target role and office.

They will be able to give you a granular understanding of the current recruitment process, what to expect and any specific tips. They might also be able to help with a referral.

Here's a guide on how to lead these discussions:

Free Guide: How To Handle Networking Calls and Get Referrals

Best,
Cristian

Answer 6

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