Hello everyone! I know this topic comes up frequently, but I wanted to get some advice specific to my situation since I couldn’t find similar posts.
I’m currently working as a senior auditor and just moved to the financial due diligence group at a Big Four accounting firm. My ultimate career objective is to work in private equity. I’m trying to figure out which path would give me the best shot at reaching this goal.
Here are the different trajectories I’m thinking about:
- Due diligence senior → Middle market investment banking analyst → Top MBA program → Private equity
- Due diligence senior → Due diligence manager → Top MBA program → Bulge bracket investment banking associate → Private equity
- Due diligence senior → Due diligence manager → Middle market investment banking associate → Private equity
- Due diligence senior → Top MBA program → Bulge bracket investment banking → Private equity
Do any of these paths seem realistic for breaking into PE? Would you suggest a different approach based on your experience? I’d really appreciate any insights or advice you can share.
The numbers tell the story - about 40% of PE pros come from investment banking, but only 15% jump straight from Big Four roles. Your FDD spot actually gives you solid technical skills PE firms want, especially financial analysis and risk assessment. Path #2 makes the most sense - stick with FDD longer to build real expertise before doing the MBA switch. Plenty of PE funds actively hunt for experienced FDD people because they get deal evaluation from day one. Here’s what matters: it’s not about landing at some top bulge bracket, it’s about showing real impact on actual deals during your FDD time that you can talk about convincingly in PE interviews.
I’ve seen tons of PE transitions through executive search, and here’s what most people miss: timing is everything. Right now, middle-market PE funds are drowning in capital - way more opportunities than the typical bulge bracket path can handle. Your FDD background is actually gold because you get deal risks from the ground up. Investment bankers might crush the models, but they don’t have that foundation. Don’t think of this as climbing some ladder. PE firms want operational due diligence skills more than financial engineering these days. The sweet spot? 4-5 years of FDD before you jump. Shows you’ve got the technical chops and deal maturity. Most successful people I’ve placed skipped the MBA completely - they just went deep in their sectors instead. Pick 2-3 industries and become the person everyone calls for the gnarly deals.
FDD to PE is definitely doable - you don’t need all that complicated stuff. My buddy pulled it off by staying at EY for 3 years, networking with PE clients during deals, then getting hired directly by one of them. Skip the MBA debt and focus on getting good at modeling and building sector expertise. PE firms love FDD guys who know their industry inside out.
Honestly, all these “optimal” paths are BS. Everyone thinks there’s some magic formula, but most PE shops don’t care about your perfect LinkedIn journey if you can’t add value. I’ve seen MBA grads with textbook resumes get rejected while some random corp dev guy with solid deals gets hired. Your FDD experience is good - don’t overthink the sequencing. Focus on building real skills and relationships instead of mapping out some 5-year master plan that’ll change anyway.
You’re on the right track with your work in financial due diligence! I went through corporate development at a Fortune 500 company before my MBA, which really paid off as I could talk both buy-side and sell-side in interviews. Also, networking is key—since you’re in FDD, you’ll meet folks from PE firms; nurturing those relationships can really help you leapfrog traditional routes. The MBA is a good idea, but just ensure you have enough deal experience to share great stories during your applications and interviews.