MBB Consulting -> Top Tier IBD
Hi all,
Jerry is currently a non-MBA 3rd year consultant at MBB Europe and wants to switch to a top-tier M&A investment bank (think JPM/GS/MS).
Academic background: Non-business, but technical (think BSc+MSc engineering/computer science/maths). Non-target school GPA 4.0 and GMAT 770.
Consulting background: Non-finance, mostly technology.
How would he do that? Can he do it without having to quit his MBB job first (= avoid internship ...)?
Location: English-speaking, whatever is most realistic.
Entry-level: Analyst/Associate, whatever is more realistic.
Cheers,
Jerry
Are you talking management consulting or software consulting? from what I take of it - you're talking about software consulting. If you want to break in most probably you'll need an MBA, and don't talk in 3rd person it's annoying.
Management Consulting with technology focus (think: digital product portfolio strategy formulation, commercial due diligence in high tech industry, organizational restructuring for telco company, etc ...)
I don't think MBB does traditional software consulting/system implementation
Switching into Investment Banking from Consulting (Originally Posted: 07/22/2014)
Hi everyone,
I've been working as an Analyst for a boutique Life Sciences consulting firm in Boston for almost two years, and I am seriously thinking of switching into Investment Banking/Equity Research. I have always enjoyed the financial modeling and analysis aspects of my job and I think Investment Banking would be a better fit for me.
While I did study at a target school (Duke), I majored in Chemistry and minored in Chinese. On top of managing a lot of financial models at my current job, I am doing Wall Street Prep and have taken a couple of Finance/Macro/Micro classes on Coursera. While I know that already having work experience is another impediment, I wouldn't mind the increased work load and having to start at entry level again. Does anyone have any tips on how to best approach the switch? What are some of the places you'd advise I look at?
Thanks and I appreciate everyone's time.
Leerink Swann, Torreya Partners..
2nd tier M&A consulting ----> IBD job? (Originally Posted: 12/08/2009)
I recently graduated from a top 10 MBA and i'm heading to a second tier consulting firm doing M&A consulting (reorg, restructuring). I've had no luck with banking during recruiting, but I'm still extremely interested in getting into IBD, how likely will M&A consulting help me getting into IBD later on? What steps should I take to have a good shot to eventually land an IBD job?
You should go the boutique route. There are tons of great boutiques in almost every major city, so I highly recommend you start applying to as many of them as possible. You are looking for fit and some firm / boss that will see your potential and hire you because they believe in you. Good luck **)
Don't worry about it, and don't feel like you have to go to some no-name boutique. That's not a great career move.
I know someone who did M&A consulting pre b-school and is now at one of the top boutiques.
The OP recently graduated from b-school ...
Is boutiques the only route I can take now? Sounds like I'll have no chance with any BBs?
saag
How good is Consulting?! (I want to go to Ibanking/asset management) (Originally Posted: 11/08/2008)
Yes I know that everything else (e.g. marks, extracurricular, etc) matters. But keeping everything else constant, would this experience be just as beneficial/valuable as a typical front-office internship?
anyone have any insight?
if you're already there why does it matter? if the answer's no are you going to quit your internship or not apply for future bb internships? if the answer's yes are you going to have an orgasm all over yourself?
the short answer is i doubt it'll hurt anyways, and if this isn't your junior summer it'll probably help a good deal. orgasm away...
it does make a difference, because it gives me a sense of direction and selfawareness of my position in the industry at the moment
two were interns who got jobs at investment banks one was an analyst who got a corporate development job one was an associate who went to go do something entirely different
in these economic times i would think it to be one of the better "wait and see" type jobs out there
consulting is generally pretty highly thought of by ibanks and the like, also by b-schools
despite the two people i know who went to ibanks, i would still think it better preparation and more related to investment management jobs
I'm glad to hear that!
My internship starts soon..can't wait!
Investment Consulting to I-Banking (Originally Posted: 05/23/2007)
Anyone have any info on making the transistion? Is it even possible?
Assuming that by investment consulting you mean wealth management advisory work, the answer is no.
Consulting Middle Office to IB (Originally Posted: 11/07/2006)
How well-regarded would a position in the performance monitoring area of a top 25 consulting firm be for a top MBA program?
wth is a performance monitoring area? Does "top 25" consulting firm mean that your firm is number 25?
It'll be tough for an IB position, but you can try through getting your MBA first.
Consulting to I-Banking (Originally Posted: 08/05/2010)
I graduated from a top 20 school with a strong GPA and am a second year at a 2nd tier strategy consulting firm. Would it be possible to make the switch to banking before I get my MBA, assuming that I was willing to start as an analyst? Would the interviews be identical to that of a college senior or would they be less technical and focus on my work experience?
i know of a few McK analysts who made to BB I-banking prior to MBA.. I would also like to know if it is possible from a 2nd tier strat consulting firm..
Big 4 consultant - transitioning to IB (Originally Posted: 12/04/2012)
I graduated from a state school in June 2012 and am now working for a Big 4 Accounting firm as a consultant. I want to make the transition to investment banking and need advice. I have a network of analysts at various middle market IBs that I could leverage but want to make sure I'm making the right move. I am extremely hard-working and am currently pursuing my CPA and finishing my CFA. I guess my question is what are my next steps (i.e. stay with big 4 and finish CPA/CFA, apply to MBA school, or immediately apply for IB positions). Thanks.
What are you consulting?
finance operations
2-3 years of consulting --> Top b-school --> IBD? (Originally Posted: 02/05/2011)
I asked about going from IBD --> Bschool --> consulting, but what about the other way around? Is it difficult to get an IBD summer associate position from a top business school if you only have consulting experience?
So you worked at Booz & Co or Oliver Wyman, and then went to someplace like Columbia Business School... Would you be at a significant disadvantage looking for summer internships if you have no finance on your resume? Would it keep you out?
Sorry for these somewhat repetitive questions.
You'll be fine.
Management Consulting to I-Banking?! (Originally Posted: 05/06/2008)
In this market, is an M&A Analyst Position at a Management Consultant firm in California a good step towards I-Banking in NYC?
Or moving to NYC and working at a place like Starbucks while job-hunting until the market gets better?
Don't work at Starbucks, Howard Schultz is a douche. Go with the position at the consulting firm, if the firm is decent you should have little trouble transferring to i-banking. The two fields are similar in prestige and reputation and there are lots of people switching in both directions. (lately more people going to consulting because of the job market).
The firm also has a NY Office, so that could mean I could transfer internally over a certain period.
Is consulting a possible path to break into Investment Banking? - Info or pointers? (Originally Posted: 10/07/2010)
I am interested in finding out if anyone has any information or pointers on how to get your foot in the door for investment banking through consulting. What is the process like?
I would say no unless you are at MBB; but if you are at MBB -- why leave?
Consulting is for the most part a completely different skill set than investment banking and to be frank a lot of bankers look down on it.
I would still take MBB over a top bank at an entry level position because while the lifestyle is rough with travel, the hours are still more reasonable than banking.
If you want to do IB, go for IB...
consulting to i-banking (Originally Posted: 08/23/2007)
I am from a non target and don't work at an investment bank. Instead, I am doing management consulting and still interested in getting into investment banking down the road.
1) Anyone heard if investment banks hire consultants with 1-2 years of experience or do they just like to pick up kids straight out of college.
2) Also, if I do get into an MBA(top 15 hopefully) directly after 3-5 years of consulting experience, when applying for associate positions at ibanks, am I at a huge disadvantage since I would have no I banking experience pre-MBA?
Thanks in advance.
Depends. What kind of consulting? Which consulting firm?
Consulting -> IBanking (Originally Posted: 11/21/2010)
deleted
no hope at all.
how can you have looked on the site and not find an answer? are people now inept at using basic search?
^^^Agree, there are hundred of things on this site about this subject. Mentioning something would be a waste of time. But it's a Sunday so here we go....
When you go to bschool you have plenty o f opportunities to get into IB associate position. Healthcare can help you get into IB healthcare group. Nothing to worry about.
Please search before you ask because on a regular day this would be a no answer...:)
ok, yea i knew id get flamed for that but i wasnt really sure the likelihood of non-target science backgrounds who do life sciences consulting getting into ibanking. i have no finance nor economics background, so even with an MBA...i wasnt sure what a ibank would necessarily think...especially a BB
with good consulting experience and with top MBA you will be able to get some interviews with IB firms and then it's how you sell yourself on the interviews.
Consulting to Investment Banking - 2nd tier management consulting firm (Originally Posted: 03/27/2013)
I work for a '2nd tier' management consulting firm (i.e. not BCG, McKinsey, or Bain) and want to break into investment banking.
I currently live in the Atlanta area and want to create a plan to break in. Let me know what you think:
1) Brush up on my Accounting skills, mainly for interview questions.
2) learn financial modeling. I do modeling and analytics everyday at my current job. It's not 'financial modeling', but it's hardcore and in Excel. It won't be as good as knowing Financial Modeling, but should make learning it and interviewing easier.
3) Contact local alumni through email and set up a call / meeting to discuss career information and network.
There has been an opportunity to start at a fund placement agent. Is this a good transitioning job into more traditional banking? I don't want to take it if it won't get me closer to my goal.
I'd love to hear any advice from you guys. Thanks.
bump
Switching from consulting to i-banking (Originally Posted: 07/19/2009)
I'm currently finishing up an internship at an economic consulting firm. And while I learned a lot of new things and worked with some very smart people, my time here has taught me that economic consulting is just not for me. I'm genuinely considering other career options, one of which is investment banking. I'm mostly considering boutiques in the northeast.
Can anyone give me some advice as to how I can show that the skills that I gained in consulting are transferable to banking, specifically in cover letters? If you have been or are in the same position as I am, your insight would be appreciated as well.
Thanks in advance.
You really want to focus on the similarities - the analytical points, the attention to detail, the tearing into a company (especially the financials), the demanding schedule, etc. These are all things that both fields have in common, and, experience in these area, should absolutely help steer you in the right direction. I don't think that you should have a terribly difficult time breaking into banking (especially on a boutique level), assuming you can eloquently capture your consulting experiences (those that would be marketable to banking), your genuine interest in the position (and why you feel that you will fit better in and generally enjoy banking more), and any additional skills/knowledge that you can bring to the table (examples, strong GPA, finance/accounting coursework, etc). It's a tough market out there, but you definitely have a leg up over much of your competition.
IBanker www.BankonBanking.com Articles, News, Advice and More Break Into Investment Banking
Switch from MBB gig to IBD (Originally Posted: 08/17/2012)
Guys,
I am a 23 years old consultant in a MBB looking to switch to IBD asap. I am working in Europe so MBA is not necessary at all
I started my career last november and I am already registered to a top master in UK For info, I am a strong performer and I have top reviews but I hate this job
Do you think that in current markets my strategy is good ? Do I have chance for grad recruiting to land an offer at a descent BB ?
For info, I have 12-months M&A internship experience and an undergraduate from a Europe top 3 business schools
Wdyt?
"Why do you think you would prefer IB to consulting?"
Sure, you have a shot. But if you "hate" your consulting job, are you sure that IBD is the right track for you? Or are you doing it because you view working in an IBD as more prestigious? I recommend taking a step back and really asking yourself this is what you want to do (at least for now).
If you started working in November, I would make sure you at least hit the 1-year marker at your consulting firm, otherwise that's going to raise some flags when people review your resume. Just a thought.
Cheers.
Can consulting people transfer to IB easily? (Originally Posted: 07/15/2011)
Hi~~
Anyone knows that whether consulting people transfer to investment banking easily? From what position to what position?
Thank you!
which consulting firm? and yes it is possible, usually to the equivalent position
which consulting firm? and yes it is possible, usually to the equivalent position
I wouldn't say easily. I made the switch, with a bit of effort. The best way is to have current colleagues / connections recommend you. If you work with well-connected people (whom you trust), reach out to them seeking their mentor-ship and see if they'd be willing to help you "learn more about the industry to see if it's a career path you would like to pursue" (a.k.a. put you in touch with their buddies at top banks). Then it's a matter of tailoring your resume to an IB skill-set and telling a convincing story in interviews. This is especially important if you're aiming to come in as a 2nd year Analyst. They'll ask questions about why you went into consulting rather than banking out of undergrad, and the like. PM me if you'd like to discuss.
best of luck
Hey speedmerchant - can we discuss how you answer why switching from consulting to banking and what skills are transferable? I'm in consulting right now but really want to transfer to banking. Thanks!!
got a couple questions here: did you come in as a 2nd year analyst after completing 2 years of BA/AC from your consulting firm?
also, suppose that you're not keen on doing b-school and got a direct promote to post-mba level, eg. consultant, would you be able to lateral as an associate in banking? which would be easier: lateraling after 2 years of BA/AC to a 2nd year analyst position or after making consultant to an associate role in IB? payoff is obviously better in the 2nd scenario but I suspect it might be harder
Investment Consulting to I banking? (Originally Posted: 04/28/2012)
If I get an investment consulting internship this summer, will it help with my junior year I banking search? Or should I go with PWM?
Interested as well
Bump
Doesn't really make a difference probably. Having anything finance-related for your sophomore summer will help you for junior recruiting.
Okay, for anyone else that might be wondering, here's my experience. Investment consulting is boring, and it isn't something that I (interested in banking/consulting) would want to do for the long run. I chose PWM, but there are ups and downs between both internships. PWM to bankers is codeword that you would like to get a job on wall street, and there is no getting around this. Several times through, I was asked by co workers whether I wanted to be a banker/trader lol, and I was told by the hiring manager that he understood that the internship would be a great start for other things. I was also told in an investment banking interview that the PWM did indicate that I did want to do banking. Investment consulting is totally different and not as many people are as familiar with it. Respect wise, no one is really going to care or differentiate between the two internships. Investment consulting is a lot more "legit" work then paper pushing at pwm (at least my offer was), but might have been better for trading. Bankers/guys in private equity don't really care about it and view every non banking/consulting/pe internships in the same regard and so it really doesn't matter what you choose in the end. Hope this helps!
Transition from Consulting to I Banking (Originally Posted: 01/14/2007)
Hello all, I am a junior in a top 100 undergrad majoring in finance. I landed an internship at a small to midsize accounting firm doing business valuations on their consulting side here in San Francisco and if I do well enough to get hired after the internship and graduation I will be exposed to other departments like Bankruptcy, Receivership & Liquidation, Business Performance Improvement/Turnaround, Client Accounting Services, Litigation Consulting, and Mergers & Acquisitions. I plan on taking my school's MSFA 22 month professional program a year after I graduate and the program prepares their participants for the CFA exams as well as award a Masters in Science in Financial Analysis degree. So my question is, what departments should I gun for ,after business valuations, that would best prepare me for a career in I banking? Also, does this plan seem feasible? Thanks for any advice you can give me.
sounds very feasable. congrats on getting into a top 100 undergrad program you should be proud of yourself, i'm sure your mom and dad are too.
Actually, its listed as 112 in the nation, but since last year it has moved up 3 places in the rankings. So I imagine, by time I graduate, it will be that much nearer to 100.
hhahah "top 100 undergrad program"
haha top 100, good one
I think its good enough. I busted my ass to get the internship alongside students from Stanford, UC Berkely and UC Davis. I got into this school out of a JC in Virginia. I was told by my highschool counselor that I wasn't college material and handed a flier from Job Corp. I didn't have as many resources as some and still plan on doing alright. I'm actually looking for advice and not criticism. Thanks again
Should I switch from MBB to IB now? (Originally Posted: 12/09/2009)
Guys,
My ultimate aim is to land a gig at a decent PE fund a couple of years down the road. I'm currently finishing my first year at a M/B/B in a large East Cost office (not NYC). I've been on the look for two months now, and I've gotten some interviews at good shops but I've made the experience that I don't have the modelling skills that many shops require. Now, I also have an analyst offer from a top IB in M&A in NYC.
Should I take that offer, work for 1-2 years in that IB, get the modelling skills and thus maximize my chances of landing a gig at a top PE fund? Or should I just stick it out at the M/B/B, maybe do a modelling course on weekends and continue interviewing? How would people think of a switch from M/B/B to IB after just one year? Do you know people who did this?
Thanks for helping, guys. Really need your advice here as I just don't know what to do.
Definitely take it. No one really cares, if anything your resume will be more impressive. Definitely get some IB experience in there, especially since it's M&A at a good bank.
I would also take it. With both strong MBB and IB you should be a very strong PE candidate.
Out of curiosity, how useful did you find MBB? Did you learn a lot that could be applied to PE?
The stats are very clear. The best path by a long shot into PE pre-MBA is from an IB analyst position. About 20% of people who go into PE have consulting experience, but closer to 90% have IB experience.
Typical profile of a candidate for a Top 50 Private Equity Firm (Pre - MBA) - http://bit.ly/4zKZUE
[quote=formerMD]The stats are very clear. The best path by a long shot into PE pre-MBA is from an IB analyst position. About 20% of people who go into PE have consulting experience, but closer to 90% have IB experience.
Typical profile of a candidate for a Top 50 Private Equity Firm (Pre - MBA) - http://bit.ly/4zKZUE[/quote]
What about the rest of the 150%?
Think about if you are a recruiter at a PE shop. You see tons of people with great IBD experience, who have modeling skills but no experience relevant to the asset management side of things. Consultants are great at analyzing business operations but have little relevant skill for acquisitions/valuation (compared to bankers).
By doing both, you will make yourself a standout candidate...
Consulting to I-Banking Transition - Top 20 Lib Arts, 1.5 yr of consulting, but low GPA (resume critique) (Originally Posted: 07/21/2011)
So, to be honest, when I was finishing up college, I had no idea what I wanted to do. Given that, I just went to a boutique pharmaceutical consulting firm after graduating. But only recently have I learned I want to pursue a career in investment banking (M&A, preferably), eventually ending up in private equity.
I have good consulting experience I feel, but certainly not from the big 3, but I liked the work I did at my firm. Would you guys
a) mind looking at my resume and giving me a critique?
b) tell me what my chances are now that I missed the college recruiting scene for getting into an entry-level analyst role at any i-bank, whether small or large, wit this resume?
c) my GPA is fairly mediocre for the field, but I have about 1.5-2 years of work experience; so, do I still need to list it or can I remove it?
Thank you!
Resume:
http://www.razume.com/documents/20952
Top 16 BSchool to BB/MM/Elite boutique?
What, could you elaborate? I've never been to BSchool.. I said top 20 liberal arts college in Maine for a Bachelor's degree.
Anyone else?
Your activity disclosed that you went to Bates.
Other than that, I think you are good. If you are not doing on campus recruiting then I think it'll be fine to remove the GPA.
MBB Senior Consultant --> BB IBD (London) (Originally Posted: 05/12/2015)
Dear monkey crowd,
1) what are feasible ways for an MBB Senior Consultant (2,5 years exp) to break into BB IBD in London? 2) are there any banks known for diversity (=recruiting non-traditional backgrounds)? 3) what technical knowledge is expected in the interviews from people with non-traditional backgrounds? 4) what's the likely entry level?
Important facts: - IT MSc degree (no econ/finance background) - Most consulting projects in technology sector NOT banking/finance (can be spun in CV, though) - very limited finance knowledge - currently located in mainland Europe - MiF / MBA degree is an option (if required)
Cheers king.kong
entry-level for you would probably be associate. I would assume you would either need an MBA or a cheaper alternative, such as MiF at London Business School or Cambridge (both post-experience programs)
(A) Can anyone confirm the MBA/MiF requirement?
If MBA/MiF indeed required: - Would entering at the Analyst level be an alternative option (w/o MBA/MiF)? If yes, would I be required to do an internship first? - Would an INSEAD MBA qualify for ASC positions (INSEAD seems to be better known for its consulting placement)?
(B) Any insights regarding point (2)? E.g., I've seen some promotional "we recruit non-traditional backgrounds" YouTube video by Morgan Stanley.
I don't think the MBA / MiF is a requirement, but without it, it'll be a harder sell because you'll have to mostly rely on networking to get a job rather than having access to OCR in addition to the school network. INSEAD places well into BBs so it would be a great choice, although I would strongly recommend the Jan. entry so you can do and benefit from a summer internship. Networking is quite important (you have to do a million coffee chats to show your "commitment") so keep that in mind when comparing INSEAD and LBS.
Without going back to school, you'd also likely start as a first year analyst vs. associate out of MBA/MiF (my BB hired someone with a very similar profile as you right before I left and he started as a first year analyst). I don't think you'd be consider really as being from a non-traditional background though. They are many similarities between the 2 jobs as an analyst (client driven, fast pace, analytically driven, attention to detail, presentation, etc) so I think your experience will be very valuable. Regardless of your background, you are expected to know your stuff and to nail the technical part though, especially if you want to make a case that part of your consulting experience should be recognized.
As to how to make the transition happen, I would start by arranging coffee chats with your school and MBB alums working in the city. Introduce yourself and get their input on your goals, build relationships and put yourself in a position where they'll think of you if a position opens up at their bank. If you have done a lot of tech work, your experience could be very valuable to a TMT team so you might want to target that as well.
Investment Consulting to Investment Banking (Originally Posted: 01/08/2007)
Has anyone heard of this occuring? I am currently an analyst at a major investment consulting firm, but would like to tranfer to investment banking. Any help would be appreciated. Thanks.
i really don't think this has ever happened in the history of mankind. there's no way it can be done.
Go to b-school and transition at that time.
Start studying...it won't give you an edge over your more experienced counterparts, but if you don't have a background in banking, it will get you ahead. (level one and two can take a year to a year and a half)
If that's too arduous of a process for you, take the GMAT and blow it out of the water...you can then either shop around with that and see what happens or just go back to school...
Steve, do you work for Cambridge Associates?
I'm afraid to mention the name specifically here, since ou never know who might be on these forums (my boss doesnt know I'm searching), but it is one of the top three (don't know if they have such a ranking system).
Would be to transition to an investment manager, such as Fidelity, T Rowe, etc. or perhaps the asset management arm of a BB. Frankly, IB and investment consoluting are many worlds apart.
If you're really dead-set on IB, I'd second the MBA -> IB associate route.
As far as the CFA goes, I'd advise against it. Most bankers don't have it, partially because the time commitment is too large (banker hours are insane as it is), and partially because the curriculum is focused on Asset Management / equity research, rather than IB.
I'd also have to recommend against backoffice work in IB. If you're truly interested in BO work by any chance, it's much better to be in S&T or at a hedge fund.
Thanks for the advice. I had a feeling the GMAT might be a better path.
Rickets,
But don't you think most firms won't even look at him without some sort of proven solid financial foundation (CFA certification is highly regarded)
I mean we can assume that if he's in IConsulting now, he is certainly not working 70+ hour weeks, so he would have time to prepare.
I do agree with you about the IB back office entry. Although that could take just as much time to move to the front office than passing your CFA in two years. Your call...
Does anyone think an internship at a I bank (if possibly attained) would increase my chances of at least passing the initial screen and landing an interview?
i'm pretty sure most of the major BB internships require you to return to school in sept.
Consulting to I-Banking Transition (Originally Posted: 12/19/2006)
Out of college, I went through a commercial banking Management Development Program and did credit analysis for a little over a year. I understand that commercial is crap and not at all respected by i-bankers - I felt the same and jumped to consulting.
I've been at a Big 4 consulting firm for three years and moved up the ranks pretty quickly (3 promotions in 27 months, where it normally takes about 6-7 years). I feel I am at a bit of a crossroads right now and am exploring options. Basically, I'm looking for thoughts on a transition into i-banking - feasibility, potential approaches, and realistic timeframes.
The major caveat is that I don't want to be a bottom-feeder. Pushing reset on my career is not an option. Not to be brash but I've fought my way up in consulting and to be shoulder-to-shoulder with fresh college grads would be mildly insulting. I understand that I would have much to learn about the business but I've led engagement teams of 6-8 people on high-profile projects and I've interfaced with and provided guidance to CFOs on a daily basis.
I don't want to go in through an infrastructure post because at least in consulting, I have seen little success in parlaying that into a client-facing role. The discussion about using an MBA as a springboard is a valid point but one I am already considering. I'm applying to b-schools right now as another potential option.
With this kind of an attitute you're going to have a difficult time getting into banking. The "Bottom-feeders" you speak of still make more than you. At this point, your only option is B-school unless you can talk a smaller shop into taking you on board.
I apologize if my original post rubbed you the wrong way. My point more or less is that I have built career equity in consulting and that I want to protect against its erosion with a jump into i-banking. I'm sure you would feel the same if you came into consulting - you would want your experience to be considered, not only in your pay but also in your title.
It's true that the lower level employees probably make more than me at a cursory glance. But, if we add some context to this discussion - location, per diems, and hours - I probably have the edge.
Sure, but you need to remember that investment banks follow a hierarchical structure. Without business school, making it to the Associate level is basically going to be impossible unless you have some really killer experience. The only examples I've seen of this are actually folks who've left banking and are coming back...one guy I know of did 2 years GS, 2 years disney CPG (corporate strategy), and came back as an Associate.
I hate to break it to you but the "Career equity" means very little to most bankers: you haven't been working on deals. Even guys who do two years at McKinsey or Bain come to banking as an Analyst before b-school.
To be frank, your best bet at this point is b-school. There is unfortunately no way to bank the time you've put in and cash it out (by coming in as an associate) unless you've done something really extraordinary.
If you start in banking, you'll get paid exactly what all the other mbas do. There'll be guys with a lot better and more relevant experience than you too.
That being said, you could leverage your "equity" and perhaps get promoted to vp and beyond faster. but you're gonna get the package everyone else gets
Move from McKinsey corporate finance to BB IB (at exp. level eg associate 3)? (Originally Posted: 05/27/2007)
Are there any examples of these moves? It's interesting if there are any "exchanges" between McK and BB? Or it's only one-way move to bb?
You will almost definitely need to start at as a 1st year associate at the very highest. A 1st year associate in my group lateraled from McK corp fin as an analyst and while he is one of our best associates now, he told me he struggled hard to get up to speed with the rest of his class. B-school will definitely get you in the door as a 1st year associate, I'm not sure if they would make you start as an analyst, either. Another associate of mine did 2 years industry, 3 years consulting, b-school then came in as a first year associate.
Was he a business analyst at McK or associate/em?
There is no way you would go McK BA -> bschool -> IB analyst.
I know that laterals are possible but most people choose not to do it b/c it entails a lot of wasted time. For example if you do a 2 year BA stint then try to transfer to an IB, you would come in as an analyst and it sucks being someone's bitch AGAIN. If consultants ever want to make the switch you usually do it post-MBA.
i know someone who did the reverse - BB - b school - Mck corp fin. wonder which route entails more catching up to do..
I met someone who did this (McK->top BB as associate, no B-school) a few years ago.
BA
Leaving an MBB gig for IBD (Originally Posted: 08/17/2012)
Guys,
I am a 23 years old consultant in a MBB looking to switch to IBD asap. I am working in Europe so MBA is not necessary at all
I started my career last november and I am already registered to a top master in UK For info, I am a strong performer and I have top reviews but I hate this job
Do you think that in current markets my strategy is good ? Do I have chance for grad recruiting to land an offer at a descent BB ?
For info, I have 12-months M&A internship experience and an undergraduate from a Europe top 3 business schools
Wdyt?
Why create 2 threads? And why do you want to switch from MBB? You should have a decent shot considering MBB experience as well as 12 month M&A experience, but why?
Different strokes for different folks bub.
hate consulting - pay less, too much operational bullshit, too much travel and working with stupid mid level guys
up
You're guaranteed interviews during your masters, assuming it's at Oxbridge or LSE. Make sure you get on the recruiting train early because effectively the banking deadlines are shortly after the start of your masters program. PM me for details.
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