I wish I did consulting instead of IB
I've spent 2~ tough years in IB only to realize that PE and investing is like the last thing I want to do with my life/career. Friends in MBB and T2 consulting are exiting left and right to corporate and startups in pretty interesting functions, meanwhile I'm struggling to get an offer anywhere. Lol I was so focused on IB in school for no good reason beyond the fact that others wanted to do it. Most of my friends a year or two older hate the PE lifestyle and are trying to leave now too.
It sounds like you're experiencing a common sentiment among those who enter IB with high expectations, only to find it doesn't align with their long-term goals. Based on the most helpful WSO content, here's some perspective and advice:
Broader Exit Options in Consulting: Consulting, especially at MBB or even T2 firms, often provides a wider range of exit opportunities compared to IB. Consultants frequently transition into corporate strategy, startups, or operational roles, which might align better with your interests. If you're considering a pivot, consulting could still be an option, especially if you can leverage your IB experience to highlight transferable skills like analytical rigor and client management.
Reassess Your Career Goals: It's not uncommon to realize that the traditional IB-to-PE path isn't for everyone. Many professionals in your position have found success by pivoting to roles in corporate development, strategy, or even startups. Reflect on what excites you—whether it's working on innovative projects, building something from the ground up, or contributing to a specific industry.
Networking and Storytelling: Transitioning to consulting or other fields will require a strong narrative. As highlighted in WSO threads, having a compelling "why" for leaving IB and pursuing consulting or another field is crucial. Focus on how your IB experience has prepared you for strategic problem-solving, teamwork, and high-pressure environments.
Consider an MBA: If you're struggling to make the leap now, an MBA could be a great way to reset your career trajectory. Many professionals use business school to pivot from IB to consulting, corporate roles, or startups. It also provides a valuable network and time to explore your interests.
Don't Dwell on Regret: While it's easy to look back and wish you'd chosen consulting, remember that your IB experience has given you a strong foundation in finance, work ethic, and resilience. These are highly valued skills in many industries. Focus on how you can leverage them to move forward.
If consulting or another field excites you, start networking aggressively, refining your story, and exploring opportunities. It's never too late to pivot and find a career path that aligns with your passions and goals.
Sources: Q&A: Former MBB Consultant, Q&A: I grew up in Consulting and reinvented my brand 3 times, Transitioning from tech to a serious finance job (yes, you read that right), Q&A: Consulting v. Banking, the age old question. By Former MBB and Bulge Bracket Banker., If You're Stuck Choosing b/w Consulting and Banking, DO BANKING
looks like its time for you to get an mba
not a bad idea
IMO MBA doesn’t make sense at your tenure, you wouldn’t be as competitive with 2 yr IB under your belt vs the standard 2 yr IB + 2 yr PE/startup/tech/F500 etc which would also help you formulate how you want to use the reset card (industry, function) and utilize the network
Exact same here
No hits from Corp Dev, Corp Fin or Strategic Finance roles? Even CoS roles that are more Finance heavy? CoS roles pull from both Consulting and IB often
Corp Dev is not interesting, I'm looking to pivot out of M&A in to finance strategy/ops. Yes perhaps CoS are the way to go, should look more
What is CoS?
To me then Strat Fin or CoS is the way to go. Corp Strat also will recruit bankers from what I’ve seen, although less common largely from self-selection and some affinity bias. Depends on how org is structured
CoS in particular will allow you to pivot into more of an S&O phenotype from multifunctional exposure. Because it’s a nebulous role just have to suss out which companies will give you a proper experience
All in all I don’t think you’re at a disadvantage or made a mistake going into IB. It will take a hop or two but you should largely have access to the same exit opps unless you’re angling for pureplay ops or M&S where bankers don’t really tread right after their stint
Depending on the CD role you might doing an interesting mix of strategy and M&A, often working closely with if not part of the strategy team. I wouldn't rule it out based on the assumption that it's only M&A.
Sounds like a classic case of “follow the crowd, regret the crowd.” IB and PE give insane exposure and skills, but they’re not magical tickets to happiness. Honestly, you’re ahead in a way — you’ve figured out early what you don’t want, which is half the battle. Your network and analytical skills from IB can open doors in corporate strategy, startups, or even unusual finance roles — you just have to be persistent.
thanks gpt!
Why not try lateraling to consulting now and then exit after a year or so?
I was a consultant and enjoyed it immensely
That said if you’re in an IB seat and can’t get consulting for whatever reason then my advice is to go more unstructured and embrace your inner cowboy. Get into Oklahoma PE, distressed debt, lower mid market , growth equity, and the like
Same
I can’t find shit in Corp dev/strategy/startups and have been actively looking for almost a year. 2 YOE in IB, top bucket analyst at BB in NYC. Have applied to 300+ jobs, had 25+ interviews, have gotten absolutely nowhere.
i've had interview but can't lock it down. i think the banking hardo mindset is a turn off for a lot of people. need to see how consultants interview and adapt to that style
truth! same here!
MBB has largely gone to shit in 2025, at least IB gets you a PE offer. I wouldn't sweat it, you didn't miss out on much
I'm curious on what you've seen in MBB going to sht - is it dried up client work, waning exits in current climate or something else entirely?
Wouldn’t give too much weight to the opinion of “prospect in IB”
Do your 2 years and then look at corporate development jobs. You can even go into consulting easily.
Kids, please get out of this mindset. You can just do things if you can pitch how great you are and have a decent skill set. You did well enough in school and got into IB. You’re in a much more prestigious position than most people. Stop feeling sorry for yourself and acting like a low test loser.
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