Recruiting for consulting and investment banking at the same time?
Hi, I'm a junior in university. I'm unsure of whether I wanna recruit for MC or IB. Does any here have experience of recruiting for both at the same time and is successful ? I think the preparation for both of them are pretty different. Thanks
Michael-Cohen, sorry there are no responses yet. Maybe one of these topics can point you in the right direction:
No promises, but maybe one of our professional members will share their wisdom: Miguel-Pardo Sisisenor Chaitanya-Sood
Hope that helps.
I'm trying to recruit for both as well. IB recruiting is like 4-5 months earlier than MC so the interview prep probably doesn't overlap that much. Of course you'll still have to network for both year round.
I think most people recruit for both, since consulting and banking honestly look for similar skill sets...
Admittedly the interview prep is totally different, but they attract the same types of people
I’m not sure if it’s different in europe (making this assumption based on your reference to “university”), but in the U.S. banks barely hire for full-time, rather they prefer to hire out of their intern classes. With this in mind, it’s quite popular to recruit for IB internships, and consulting full-time if you don’t like the IB experience. That’s what I did, and I would recommend it. Going through IB and consulting interview prep would be absolute hell. They do recruit at the same time in the U.S. as well. I honestly don’t know anybody who recruited for both at the same time successfully.
You did an internship in banking and now you're in consulting ? How did you convince them that you didn't wanna do banking
Because I was literally recruiting for consulting after I turned down my IB return offer?? If I wanted to stay in banking, I would not have recruited for consulting.
Perhaps I’m misinterpreting your question?
I recruited for investment banking in my junior year, and then simultaneously recruited for consulting, asset management, and equity research in my senior year (I didn't like banking, so I basically decided to pursue every other possible option instead).
My observation is that the interview prep necessary for banking vs. consulting doesn't really overlap, except in the instance of general behavioral questions (e.g. "tell me about yourself," "tell me about a time you worked on a team"). Consulting is all about case interview prep, while banking is more like... memorizing a lot of random steps in a DCF, I suppose. And asset management consists of a whole bunch of stock pitching, but that's a different game altogether.
Could you do both at once? Certainly, the timeline is workable - as banking interviews in the U.S. have gotten earlier every year, consulting recruiting teams have followed suit somewhat, but not to the same extent. So while some bulge brackets are now (apparently) interviewing junior summer analyst candidates in April and May of sophomore (!) year, consulting firms still don't really interview anyone until September, October, or in some cases November. That gives you time to focus on banking first, and then pivot to consulting as a "second attempt" if necessary.
Nonetheless, recognize that this will take some huge time commitments. In terms of workload, it'll probably be similar to my own senior year, when I probably spent like 100 hours on case prep and another 50 hours on researching a stock pitch over the course of 2-3 months, while simultaneously networking, attending info sessions, and yes, attending class. Which definitely sucked.
did you land offers in all three fields ?
I ended up taking an attractive equity research offer relatively early into the process and cancelling my other interviews, but in the meantime, I did get to the final rounds at Bain, Oliver Wyman, A.T. Kearney, Parthenon, Fidelity, T. Rowe, and Putnam.
Not sure about UG, but I know for MBA it is not advisable to recruit for both MC and IB due to how different the interview processes are. You'd be spreading yourself way too thin trying to network/prep for interviews for both functions.
Possible to apply for both consulting and IB? (Originally Posted: 12/28/2012)
Is it possible to apply for both consulting and IB? Is there any drawback? I am a sophomore. Do I have enough time to prepare for both?
Yes, people do it all the time.
The proof will be that if you break into BB banking as an SA, something like 50% of the Harvard/Princeton students in your class will still be butt-hurt about MBB.
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