I’ve been trying to assess whether my consulting background is enough to break into PE, and I keep hitting the same problem: I don’t have a clear framework for what “ready” actually looks like.
Like, I’ve got three years at a top-tier firm, strong case performance, and a few projects where I led substantive work. But I genuinely don’t know if that translates to PE readiness or if I’m missing critical skill gaps that’ll show up immediately in an interview or, worse, once I’m in the role.
I started thinking about this differently. What if I tried to map my experience against what PE firms actually need: deal modeling, financial analysis depth, industry expertise, and operational thinking. So I’ve been trying to inventory things like—how many models have I actually built from scratch? How many balance sheets have I analyzed deeply? How many industry thesis conversations have I led versus just executed on client direction?
When I do that exercise, I get a clearer picture of where I stand. I’m strong in some areas and clearly weak in others. The question is whether those weak spots are fixable before interviews or if they’re signals that I need to take a different path.
Has anyone else tried to systematically assess their readiness? What framework helped you figure out whether you were actually equipped for PE, or if you needed more runway in consulting first?
A practical readiness framework for consultants has three components: technical (LBO modeling fluency, DCF precision), domain (industry expertise in PE target verticals), and behavioral (deal exposure, investor mindset). Benchmarking: strong candidates complete 5+ full LBO models independently, maintain portfolio awareness in 2-3 target industries, and have 8+ years of analytical experience. At three years, your technical foundation is developing, but domain and behavioral gaps are addressable. Run 15-20 practice LBOs over 8-12 weeks, pick your industry thesis, and simulate interview scenarios.
here’s the uncomfortable truth: three years is borderline. some shops will bite, most won’t. the ones that do are typically second-tier or below. if you’re trying to crack a mid-market or mega fund, you’re probably looking at needing another 1-2 years or an MBA to reset the clock. honest assessment: count your actual modeling hours. if it’s less than 200, you’re not ready. if it’s between 200-400, you can make noise. above 400 and you’ve got a real shot.
Your instinct to self-assess is sound. I’d recommend a structured evaluation: first, quantify technical competency—can you build a full LBO model without assistance? Second, assess domain knowledge—do you have genuine insight into an industry beyond surface-level? Third, evaluate your deal intuition—have you seen enough diligence processes or financial negotiations to think like an investor? At three years, most consultants score high on technical fluency but lower on domain and transactional intuition. These gaps are temporary. The better question isn’t whether you’re ready now, but whether the next 12-18 months at your current firm will close those gaps or whether you need to accelerate through deliberate external study.
i’d suggest building a simple scorecard for urself. rate urself 1-5 on like modeling, deal exposure, industry knowledge, and see where u land. that’ll prob show u exactly what to work on before jumping.
I actually did something similar when I was at McKinsey, three years in like you. I listed out every project where I’d touched numbers beyond just the slide deck, and it was eye-opening—I’d probably really dug into financial analysis on maybe five engagements. For the other twenty, I was more conceptual. Once I realized that gap, I spent evenings self-teaching models and asked my partners to assign me to more finance-heavy work. That intentionality, plus the models, made a huge difference when I started interviewing.
Three years in consulting is solid! You’re closer to ready than you probably think. Dive into some modeling work, build that confidence, and you’ll absolutely be interview-ready soon!