Joining MBB ME full-time (pros & cons)
I had a seasonal internship at an MBB firm in Dubai. I now have the chance to join full-time as an entry level associate/BA. I'm contemplating my decision and would appreciate any insight here.
Consulting was my plan B after some bad luck I faced with my IB career. I was a graduate at a European Bank for 6 months, then got laid off unexpectedly in the summer. More layoffs are pending especially in Europe, so this MBB job, above all else, offers stability. I'm going to lay out my pros & cons & alternatives.
Pros
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Stability. Again, major issue with any finance position now. Layoffs are ruthless.
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Compensation. Didn't expect consulting to be on this level. Tax free income is a major plus
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Retention. This goes back into stability. There were 3 new partners promoted internally this month, all started at the firm.
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New, less maturing industries giving room for quality exciting engagements. The location is both a blessing and a curse
Cons
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Location. This is an easy one. It's going to be nearly impossible to move back to Europe internally or otherwise.
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Work is a little tough sometimes. Even as an intern, I started traveling weekly from week 4.
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Moral dilemma. This is my biggest one. It's no secret that governments in the region are massive shitters. Their criminal behavior is appalling. I'm working indirectly to benefit them, which is morally questionable. Not gonna sit and pretend banks in the west are moral, either. You get the idea
Alternative
A small investment company is offering me an IB graduate position back in Europe. Half the pay, and no comparable recognition. But, it crosses off all the cons for the MBB.
How would you approach this choice?
Re your inability to move back to EU - I have seen countless cases in which consultants moved both within their firms (MBB + T2) and to top corporate jobs in other locations in both EU and US. Would heavily discount this as a con as long as you don't build your entire experience around "operating model design" projects.
Would you say this holds also for non Europeans?
Yes, absolutely - Indian, Lebanese friends & acquaintances come to top of my mind
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