IB —> MBB?
An1 looking to explore options making a switch to consulting. Honestly think it’s a better fit for me, based off very preliminary discussions (casual chats with buddies).
I’d appreciate any insight / advice from anyone who’s made the switch from IB to consulting, especially at the jnr level. Any insight into the change in culture, approach to recruiting, tips on interview resources?
Switching from Investment Banking (IB) to Management Consulting, particularly to MBB (McKinsey, BCG, Bain), is a well-trodden path, and based on the most helpful WSO content, here’s what you need to know:
1. Culture Differences
2. Recruiting Approach
3. Tips on Interview Resources
4. Junior-Level Transition
Final Advice
If you’re serious about the switch, start preparing for case interviews immediately and build a strong narrative around why consulting is the right next step for you. Good luck!
Sources: Q&A: Former MBB Consultant, https://www.wallstreetoasis.com/forum/investment-banking/not-sure-if-investment-banking-is-for-me-anymore?customgpt=1, Help! I think I hate consulting! What's next?, Checking in 6 years later [IB to MBB transition], Why do MBAs seem to favor consulting over banking nowadays?
Didn’t make the switch but was actually thinking the opposite - currently an MBB associate looking to switch to IB. Grass is always going to be greener on the other side I guess.
As far as the switch goes, I’ve heard it’s much easier during/post MBA especially with the recent consulting-wide cuts due to AI. With your background it might be easier to thug out a few more years in IB and then MBA -> MBB. My firm almost exclusively hires interns for entry associate positions, granted this is America. Might be different in other geographies.
Interview will be multiple rounds with cases. Biggest tip is to learn how to structure problems, tons of content online.
Culture wise expect 10-20% less hours (unless you’re on a DD project), and WAY more travel. It’s not as bad as it used to be, but still very taxing once you pass the travel-honeymoon phase. All MBBs have somewhat similar culture and invest heavily in their people, and I have 0 bad things to say about this topic.
Other notable nuances: we never work weekends; our vacations are protected (meaning we don’t work on PTO); generous maternity/paternity; stricter up-or-out than IB. All those are great and you will be treated very well no matter the firm. I think a big culture shock for me starting out was the fact that engagements seem abrupt. You’ll do a lot of different work with lots of different people, and just when you’re getting to know everyone and the ball gets rolling, you’re out of there and onto the next project in a different industry and different problem entirely. You’ll learn a lot very quickly, but the knowledge won’t be as in-depth as if you were to work on deals for years. Probably important to keep in mind if you’re considering exiting to PE or similar later on
People do move from BB to MBB, so it’s not insane but it will be competitive and you’ll basically be re‑running a full MBB recruiting process.
I made this jump too and one thing that was really helpful for me alongside casebooks and live partners was using a tool called Minerva (ask-minerva. com) when I didn't have someone to case with.
You actually talk through cases out loud while it plays the interviewer. You can choose the case type (profitability, market entry etc) and it pushes you on structuring, reading charts, doing the math, and answering follow‑ups. At the end it breaks down what you did well vs. what was off across a few dimensions and tracks your sessions over time so you can see patterns.
You still 100% need real partners (your firm’s alumni at MBB, uni consulting clubs, LinkedIn, this forum), but when you can’t line someone up, having something structured like that has been useful for keeping my casing sharp.
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