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Coach
You should definitely take PE. It is almost impossible to join a PE firm post-MBA without prior PE experience.
Even Project Leaders at BCG who lead multiple DD and growth strategy projects for PE firms have nearly zero chance of joining the investment team ever.
PE has very narrow openings and is quite rigid in terms of the pool of candidates they consider.
You can work for MBB at any time and with any background. And I will note there’s a reason MBB associates are breaking their neck to exit to PE and not the other way around.
Coach
This is very true
Your chances of PE roles out of school are 0% (even at HSW) unless you have pre-MBA investing experience
The myth of b school is that it usually enables a slight transition, not a 180*, unless for certain industries that don’t care about your prior background (like consulting). Nothing wrong with that - just know what it means to do PE now vs “maybe later”
Take the PE job. You can go to an MBB at various points in your career. PE is extremely difficult to enter unless you go in now.
Why not get offers first and decide? Both are different and none will guarantee M7
If you want Pe in the future then it’s the way to go.
Mentor
S1 - I would argue they may be outliers or applied under 2 years. In the US anyway, my entire start class that applied after the first promotion got into multiple M7’s. I’m struggling to think of even one person from undergrad at mbb that couldn’t crack M7
But sorry disagree with BCG1 on reneging. You can renege an MBB offer, but finance bros can be vindictive and is a much smaller street. Understand the double standard here of the firm can fire you at any time...but with that said reneging an offer is viewed extremely poorly in finance and word can spread. End of the day you gotta do what you gotta do, but strongly preferable not to renege.
Agree with Principal 1, PE is a very small space. Everyone knows everyone, if a candidate reneges, it’s very easy to spread the word.
Not to forget the Headhunters will get bashed for bringing in a candidate who had potential but eventually moved to a different industry altogether, which would make the HH look bad in the eyes of the shop/s, which can lead to a blacklist.
If your end goal is PE, take the PE offer no doubt. MBB will always be there.
As someone who was in the same T2 boat almost 2 years ago I chose PE. I would say, assuming the fund is of a certain size ($1b aum+, writing 100-300m+ checks) and is in good standing (no fundraising blow-ups, major turnover) - you should take the PE offer. After exiting consulting at post-MBA level and doing an associate stint - I know I can lateral easily to MBB as a PL - the PE bona fides are very rare in consulting. However, you should make sure PE is for you because it is a true meat grinder with little of the touchy feely stuff we are used to in consulting. If the fund is LMM or first time fund I would take MBB. As mentioned above you will have 0 shot at PE after an MBA.
Another vote for PE here. If it’s something you want to do after MBA you really need the experience now (or IB). You can always go to MBB post MBA or even later in your career. Not so with the investment side of PE. This is an easy choice - no question!
PE
MM PE is an investment role that offers 40-60% higher TC but it is a fixed two year role with no guarantee of continuation.
MBB has faster career trajectory / wider exit options but likely decrease or same comp due to leveling down.
Potentially looking to do a M7 MBA down the road as well and PE in the future. However, not sure whether MM PE will guarantee my chances for either one. I heard that the PE bucket is very competitive bucket.
Looking for advice as the PE offer will be an exploding offer. So I will have to make the decision before I have my final rounds for the MBBs.
Unfortunately, having all the interviews this week is not an option because of the amount of prep that is required.
Coach
Take the PE offer initially. Because there’s a high chance that you won’t even get the job at MBB.
You can always renege later. And don’t feel bad about it. Companies don’t hesitate to layoff people or fire them for poor performance, when a life crisis happens.
Employees should give companies the same loyalty they offer.