Help for Stern Admit: Management Consulting or non-Ibanking career?
Hello,
I have received an admit from NYU Stern for the FT program. I am not sure if I want to get into investment banking given that I am married and it would take a toll on my family life. Management consulting is one of the options. For class of 2014 28% got full-time jobs in consulting compared to 27% in banking. As Stern does not reveal exact number of students placed in each company, does anyone have any idea about the management consulting recruitment at Stern in the last few years? Are they getting better at Consulting? How many are the MBBs hiriing here? I checked a lot resourses management consulting video for help but wasnt satisfied. 3* in the employment report does not really help.
Another role I would be targeting is Corporate Strategy or in firms like Liberty Mutual. I also have investment management experience so if Stern gives me good options in investment management I might be open to that. In the short-term I am ok with being in the NYC area but I might want to get out of here after a few years (move to South or West Coast).
I know my goals seem all over the place but I need to have full clarity as to what would be my realistic goals while at Stern.
Any inputs would be much appreciated.
Thanks.
If you're worried about work life balance, can you handle being gone every Monday-Thursday and frequently pounding out a few hours here and there on the weekends? Consulting isn't exactly known as being family friendly. A lot of people consider it worse than banking since you're physically remote so often.
I don't take issue with anything in this quote except for this part. At least at my MBB weekends are - by and large- protected. In my 6 years here I can count on two hands the number of weekends I've worked more than 2 hours.
Fair, but I know plenty of people at MBB who do work weekends. Not consistently, but my point still stands - some people with families prefer to be able to keep those weekend commitments to their family.
Tough to answer this question without knowing how many students are legitimately interested in or gunning for Consulting in the first place vs. those just casually following the herd (# of interview slots would be a decent indicator). Also be sure to separate the # of sponsored Consultants from any of your stats.
Consulting recruiting will be demanding and competitive wherever you go, so make sure you're doing all the legwork, networking, and case prep to give yourself a good chance. Overall, 28% is a solid number and makes Stern a "target". Reach out to your school's consulting club and/or career services as they likely keep internal stats on recruitment.
Also - note the median salary of $140k. MBB and other top firms such as Parthenon, Accenture, Strategy&, ATK, LEK pay above $140k in salary to post MBA's. $140k is around what Deloitte (equal to the above firms, but they pay a little less while comping second years tuition), ZS and I think OW (also equal to the above, but I think they pay less for their occasional MBA hire) pay. These are all considered top firms that compensate well and lead to strong opportunities. So Stern is sending 50%+ to top tier consulting firms of those who recruit for consulting and get offers plus sponsored students. Of the remaining 50%, a number will end up at other well regarded firms like EY, KPMG, IBM, whatever NY boutiques recruit there, etc. So if you're in the % that gets an offer, your going to be near the top of the consulting game. Thus, I'd be more concerned with how many don't get an offer, and how those people fare (usually they end up in corp strat or similar roles).
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