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<blockquote data-quote="James Carrabino" data-source="post: 93917" data-attributes="member: 16764"><p>Yes that's right! They are quite different roles but I guess you are comparing them because the skillset can be transferable and many management consultants will go into PE later on in their careers. Basically management consultants can look at a company and advise on how to solve its problems through better management. PE partners are actually buying companies before they do the second part, so they're going to want to make sure that the current prognosis of the company does not look dreadful otherwise they won't get their payday.</p><p></p><p>Management consultants are just hired advisors so they get paid regardless of the outcome and the managers of the company are under no obligation to listen to the advice they paid a lot of money for. PE partners have to actually run the companies they buy which involves a similar big-picture vision to that of a management consultant but means that all of their proposals get implemented and it makes the risk and reward much higher for them.</p></blockquote><p></p>
[QUOTE="James Carrabino, post: 93917, member: 16764"] Yes that's right! They are quite different roles but I guess you are comparing them because the skillset can be transferable and many management consultants will go into PE later on in their careers. Basically management consultants can look at a company and advise on how to solve its problems through better management. PE partners are actually buying companies before they do the second part, so they're going to want to make sure that the current prognosis of the company does not look dreadful otherwise they won't get their payday. Management consultants are just hired advisors so they get paid regardless of the outcome and the managers of the company are under no obligation to listen to the advice they paid a lot of money for. PE partners have to actually run the companies they buy which involves a similar big-picture vision to that of a management consultant but means that all of their proposals get implemented and it makes the risk and reward much higher for them. [/QUOTE]
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