I keep seeing people get excited about PE and then realize mid-interview process that they’re not really ready. And I’ve also seen people undersell themselves because they think they need to stay in consulting longer than they actually do.
So here’s what I’m trying to figure out: Is there an actual way to assess whether you’re interview-ready for PE right now, or is it just a gamble?
I’ve picked up a few things from talking to people who’ve already made the jump. Some had hit partner track in their consulting firms. Others had just closed their first big independent project. A few had spent time in specific deal-adjacent roles—FP&A, corporate development, transaction support—that gave them credible PE signals. But I don’t know if there’s a pattern, or if it’s just that they were ready in their own ways.
I’m wondering: what were the actual markers that told you “okay, it’s time to move now, not two years from now”? Was it a specific level, a type of project experience, a financial milestone, or just a feeling? And for people who moved too early or waited too long, what would you change?
I want to be data-driven about this, not just hopeful.
there’s no magic marker. pe will take you when you’ll add value and learn in the process. if you can explain how your consulting work ties to deal economics and you’ve got 2-3 years in, you’re probably fine. overthinking the readiness question is just another form of procrastination.
would love to hear concrete examples! like, specific projects or deal types that actually signal readiness? this helps so much for planning.
Readiness clusters around four measurable criteria: modeling proficiency (can you build a 5-year LBO model independently?), deal experience (have you touched M&A due diligence, financial analysis, or post-close operations?), commercial thinking (can you articulate value creation thesis for a business in five minutes?), and demonstrated follow-through (do you have a track record of owning outcomes, not just recommendations?). Most analysts have 2-4 years of experience and hit three of four. The years matter less than the depth. If you hit three criteria confidently, you’re ready to start conversations.
You’re asking the right questions, which already shows you’re thoughtful about this. Trust your instincts—if you’re ready, the interviews will show it. You’ve probably got more experience than you’re giving yourself credit for!
I moved after three years at a consulting firm, and I was terrified I wasn’t ready. Turns out I was, but barely—the first six months were humbling. Looking back, I wish I’d waited one more year to get another big deal under my belt. Not because I wasn’t hired, but because starting from a slightly stronger foundation would’ve made the ramp faster. That said, waiting forever doesn’t help either.
Analysis of successful consultant-to-PE transitions shows the median candidate has 3-5 years of experience, has touched 2+ deal-adjacent projects, and demonstrates financial modeling capability. Most important predictor of success isn’t pre-hire readiness but post-hire learning velocity. Firms hire based on potential, not perfection. If you meet basic deal exposure and analytical capability thresholds, interview performance matters more than whether you’ve waited the “right” amount of time.