Exit opportunities MBB vs Top second tier
Hi all
I have a question regarding exit options from MBB vs a top global second tier like AT Kearney.
I've got offers from both, my second tier offer is 33% higher and includes a nice company car (brand new c250 coupe!)
MBB is in London, not highest paying location but will have nice work.
I'm finding it very difficult to differentiate between the two because livability of the city and pay with the second tier will be significantly better and think the differentiator will be exit options and implications for my career for the next 30 years.
I'm a MBA grad from a top European b school so have a long career ahead of me.
Looking forwards to your opinions!
it's a no brainer really, take MBB, especially given in it's London. The long-term career benefits you will enjoy far far outweigh the higher starting salary and car, it's not even a question.
I'm going to give you a classic consultant answer, since this is, after all, the consulting forum: it depends.
I hate the "tiers." Now, I don't work at MBB, so feel free to take that with as many grains of salt as you like. But "tiers" are essentially a way to oversimplify the aggregate value proposition of your association with a brand. In other words, we would think of a company that is widely well-respected across industries and geographies as having a higher value (and belong to a higher tier) than a company whose respect level among its clientele is also high, but has a smaller and more focused client base.
If you are totally unsure about what direction your career will take, then I would say to align with the "tier" and go for general optionality that MBB provides. However, if you're more sure about your career path, then the tier really doesn't matter and you should go with whatever is better suited for your needs (which might still be MBB, but it's a different question to answer).
Here's an example of what I mean. I love college football, so let's use that. Let's assume (and this is just to set up the analogy, not to start more arguments) that Alabama has the best college football program in the country. It recruits the best players, they have great coaching, and they send tons of players to the NFL. Cool. Now let's say that the University of Washington has a pretty good program overall, not national title contender worthy, but not some garbage program like Washington State. But they have a QB coach that is a total savant, and that every starting quarterback they've had for the last 20 years has been drafted and played in the NFL. (Shut up, PAC12 haters, this was true at one point in the late 2000s.)
You're a linebacker. Where do you go? Dude, go to Bama. No question. Now you're a RB/WR hybrid that's raw and needs coaching. Still go to Bama. Now let's say you're a kicker. Kill yourself. Just kidding, go to Bama.
Ok, but let's say you're a QB. There's no doubt that you're going to continue to be a QB. You think that actually, the QB coach at UW is a better fit for you than the QB coach at Bama, and there's some side benefits-- it's closer to home, you like the rain, the coeds can read. Whatever. In this case, would you care that Alabama is a higher-ranked program overall, or would you go to UW? The point is to go to the NFL and be successful there, right?
Each of the "second-tier" firms has some areas where they compete very strongly with MBB. Not across the board, and maybe not across geographies, but it happens. If that's one of the places that's available to you and your exit interest is within that specialty industry, then don't get too caught up in the "tiers." On the flip side, if your industry interest is general and you're more interested in the broader appeal of the brand and the larger alumni network, then MBB with the lower pay is a slam dunk.
Hope this helps. Feel free to add in additional details about what you're looking for to get more detailed advice, this is pretty general.
My problem with this analogy is that in sports there are (1) objective metrics on which you can judge a player and (2) you can actually watch the QB play.
When you are hiring someone exiting from consulting you have much less information to go off of. It's harder to differentiate real stars from people who can spin their experience well in an interview.
MBB brah, preftige
I'd think similarly to the answer from dmw above, but if you're leaving B-school I would assume that you went in for a career switch/strengthen your "personal brand" and may have some uncertainty.
The best angle I've heard on this (which happened to be this week from a professor where I'm at, Kellogg) was this:
"You are here for opportunities and, let's be honest, the prestige that goes with the brand name of the institution you're giving all of this money to. Statistically speaking, this is the last time you have a chance to walk into one of the top firms relatively easily -- it is very hard to get into a top I-bank or MBB as a lateral move from a lower-level once you leave here."
I understand that it's a bit easier to get into these firms in LatAm or Europe, but I'd be willing to be you didn't go to b-school for and extra 33% of salary immediately out of school. There is a considerable difference (at least in the U.S.) between tier 1 and 2, and at this point in your career I'd go MBB (disclosure: I am).
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