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Consulting to Private Equity – TCO Spin-Off

Private Equity remains the single most popular career destination for Firmsconsulting alumni who join McKinsey, BCG and Bain. In fact, a substantial proportion of our clients intend using McKinsey as a springboard to a private equity career since they cannot directly make the transition without the consulting experience.

However, a strategy consulting background is not enough. Most do not make the transition.

In the last year, we have helped several clients move from McKinsey, BCG and Bain into PE, and are currently helping a substantially higher percentage than normal. Given the enormous success of TCO and given the popularity of this career option, we will be creating a TCO Spin-Off to help consultants transition into private equity. If you are interested in becoming a participant of this program, please read below and feel free to apply.

The most important thing to remember is that, like TCO, we are looking for applicants who want to join the very best, most elite PE firms. If you intend on applying to a boutique PE firm as a stepping stone to a major firm in a few years, this is not the program for you. We want to work with the best applicants who want to work for the very best firms.

Note, applying here does not mean you are simultaneously applying to TCO III. Though the format of the programs are the same, their objectives, contents and technical skills are very different. TCO III is a separate program, with a different application process, intended for applicants pursuing a consulting career at McKinsey, Bain, BCG or Roland Berger.

The PE program is for those already at a consulting firm looking to move into PE.

Application Requirements: If you would like to make the transition from McKinsey, Bain, BCG or Roland Berger to PE, this is what you need to do. On a case-by-case basis we will consider applications from outside these firms:

  1. Send your resume (any word format is fine)
  2. Send any cover letter you used (you do not need to create one for this application)
  3. Send us a detailed letter, mp3 or video explaining why you deserve this opportunity to be trained by some of the most senior partners in consulting and corporate finance. In particular, explain to us why you want to be in PE. Applicants who submit slighted edited university essays or very basic letters will be automatically rejected.
  4. A photo of yourself
  5. Please send these to [email protected]

There is an application cut-off. As soon as we find the candidates we will accept into the program, we cut-off applications. That could happen in a day, week or a month.

Are you eligible to enter?

  1. You must be applying to US, Canada or UK.
  2. You must be a current consultant or alum of McKinsey, Bain, BCG or Roland Berger.
  3. You should be in possession of a passport or eligible to receive one by early January 2015.
  4. You should be trying to interview around July 2015 – September 2015 so we can have an entire year to train you. For UK applicants this extends until January 2016.
  5. The time you have already spent at McKinsey et al is largely irrelevant. Someone who spends 2 years at McKinsey is not a stronger PE applicant than someone with 11 months experience.
  6. Consulting firms conduct due diligences in their own way. This is different from PE firms and consultants tend to focus on market sizing, synergy analyses and multiples-based valuation. While PE firms will test for LBO and DCF skills, you need not have this particular experience when you apply to this program. We will teach these skills to you if you are admitted to the program.
  7. A degree or background in finance or accounting is not necessary. Neither is having an MBA.

A couple of other things to note:

  1. Firmsconsulting bears the full cost of this program. Candidates successfully admitted into this program will not be required to pay for anything directly related to the program.
  2. Like TCO, everything will be recorded.
  3. The training will take place virtually, with likely in-person sessions in Toronto. This is similar to TCO II where the majority of the training took place virtually followed by a final session in Atlanta.
  4. We actively support minorities, females, LGBT and low-income clients. We encourage you to apply.

If you have questions or comments, please do so in the comments below. It is difficult to respond to the many individual questions emailed in. To submit an application, please do so by emailing your full application package to [email protected]

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