Lateral IB Analyst to Consulting
Hi guys,
I'm currently a first year analyst in a BB. I got funneled into IBK pretty early in college and realized senior year it's not exactly what I'm looking for. I'm looking to lateral into management consulting either during or after my 2 year stint. How doable is this? Do consulting firms put any weight on IBK experience? Should I wait until the end of my analyst stint? I'd be open to starting as an analyst in consulting (which I most likely would right?), just think IB hasn't set me on my desired career path. I took a look at some similar threads on WSO but was curious to learn more, any guidance would be much appreciated!
Bump
In your position, there are 3 different levels at which you can enter a consulting firm, in the next 0-4 years:
• Less than 2 yrs in IB = most likely you’d restart as a a fresh graduate, as a first year BA • 2–3 yrs (without promotion to Associate) = you should be able to aim for a Senior BA / Junior Associate role, which will take you to the Associate role in 1 years (provided you perform well) • More than 3 yrs of IB experience (you’re already as Associate in IB) / you got into a top MBA = you may enter directly as an Associate
Thanks! Would you say this is a difficult transition to make? Will it be hard to get interviews given I worked in a different industry? or do you think a BB brand name and networking will get me through to interviews, at which point I need to have a good story and some case aptitude?
Conversely, I’d be curious about going the other way, from MBB to IB, and if such a move is advisable
I wouldn't leave MBB for anything but a top group at an EB/BB. Going to get MS for this, but MBB is far harder to break into than most banks (outside of top groups).
Why are you monkey shitting me? I'm right. Statistics don't lie.
fair enough, what about from T2 consulting to IB? can one lateral in without IB, or would one be better off going buyside directly ?
100%. People from non targets have a slight chance at IB. For MBB consulting, if you're not from a top target AND don't have a near perfect GPA, you got no shot.
You generally don't hear about MBB to IB for good reason: the work-life balance in consulting is better. The only cases I have heard about is IB -> MBB -> then back to IB. I did know someone to work for a bank, but on the strategy/HR side of things, not IB.
Following--in a similar situation. PM me if you'd like to case prep or chat
Had any luck reaching out to people who've made the transition? Reached out to a few people but it's been crickets for now. Assuming it's not a terribly common career path.
I did IB for 2-3 years before switching over to consulting. It is very doable, and there is a percentage of IB analysts that will do this after their analyst stint. Unless you really hate IB, you should probably push through. I started at the Sr. Associate / Consultant level, which seemed to be where most other IB analysts started out.
Start your networking now, and you should be able to have a smooth transition.
Good luck, and feel free to PM.
Thanks! Can I please PM you?
Feel free.
Was there a reason you did 2 years and then switched? How was the transition? I recently completed an IB internship at MM and am thinking about recruiting for consulting.
How tough would it be to lateral to MBB or Tier-2 consulting firms from a MM bank? If I want to really break into consulting and I want to maximize chances given the time that I have to prepare, would you recommend getting a strong brand name for banking that will get me looks in the future or spend all my time prepping for consulting?
Oof after seeing the IB analyst threads maybe I should've taken the chance on consulting. Had a very short timeline to accept my return offer and want to look towards corporate after a few years, so I thought consulting might've provided as good of a chance with slightly(maybe more than slightly?) better work/life balance. Didn't want to turn down a return offer in this job climate though. Best of luck OP.
Same boat as you. Give it a shot and see if it sticks. If not I think we're still early enough in our careers to make changes and the IB brand isn't a terrible one.
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