2023 IB intern switch to Consulting?

Tldr: 2023 banking intern thinking of switching to bain or bcg for full-time. Seeking advice

Hi everyone,
Recently been reconsidering banking as I helped my parents renovate their business and really liked the operational aspect of it and the increased wlb. I will be interning at a BB this summer in NYC in IB but am considering applying for FT consulting roles at Bain and BCG NY (really vibe with the few ppl i know at these firms). The way I’d pitch my story would be seeking to work more on operational work with the client over my career (previously worked as a restaurant manager, equity research intern and bb ib intern).

Was looking to see if anyone here made a similar switch or had any advice. Furthermore, how would I get out of office for those interviews (which I assume will be in person)? Also, is travelling mandatory for BCG? I know Bain does local staffings but I don’t really enjoy travelling all that much.

I have a 3.9-4.0 GPA in finance with a math minor at my nontarget and am a diverse male.

Appreciate any and all advice.

Most Helpful

I made the switch to MBB after my SA stint in IB at a BB (ignore my title). I'll start by saying that there is a point at which consulting does not make sense. You're at a BB which means that you are on a great trajectory for your first job. You're at the point where you are MBB or bust. Once you dip into Tier 2 firms (Kearny, S&, EY-P, LEK, OW), your exit opportunities and the prestige drops off.

In terms of work models, take these are overgeneralization because 80% of the time this is true but YMMV. 

- Bain is local (i.e. work in Boston, handle Boston-area clients)

- BCG is regional (i.e. work in Atlanta, handle southeast clients)

- McKinsey is global (i.e. work in New York, can be staffed anywhere. In actuality its national because of language and other factors)

Two ways of dealing with interviews. You can leave a suit jacket in your office earlier in the internship. On the day of the interview, wear the pants and pack a tie. If you have a hybrid schedule, you can simply schedule it during one of your remote days. The firms are pretty flexible with scheduling interviews. 

I framed my switch as similar reasons. I appreciated the financial modeling and engineering that you pick up from IB but I care more about how companies operate and compete. I found that M&A/Capital Markets are great tools, but they are only one tool in an entire kit that a leader uses when growing their business and competing in the market. Additionally, I focused on how I want to provide impact and deliver value to clients because M&A, while important, is only one event in a businesses history and does not give full insight into how businesses operate. Finally, I talked about my interest in people and leadership rather than markets and numbers. 

If you want to talk through this more, happy to PM you and discuss further.

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