MBB Toronto vs Chicago - Thoughts? Career Progression, Opportunities, and Exits
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Based on the most helpful WSO content, here are some insights to help you weigh your options between MBB in Toronto and Chicago:
Toronto
Pros: 1. Easier Recruiting: As a Canadian permanent resident, you'll have a smoother recruiting process for the Toronto office, and being close to Canadian citizenship is a significant advantage for long-term global mobility. 2. Path to Citizenship: Working in Toronto post-MBA aligns with your goal of obtaining Canadian citizenship, which could open doors to the US through the TN visa and provide greater global flexibility. 3. Healthcare Industry Focus: MBB in Canada, particularly in Toronto, tends to focus on financial services but also has opportunities in healthcare. However, the scope may be narrower compared to US offices.
Cons: 1. Lower Compensation: Salaries in Canada are notably lower than in the US, which could be a challenge given your $120K USD student loans. 2. Limited US Exits: Exiting to the US from MBB in Canada is challenging and not guaranteed, which could hinder your long-term goal of working in strategy at a big pharma or biotech in the US. 3. Cost of Living: Toronto is expensive, and the weather is not much better than Chicago.
Chicago
Pros: 1. Higher Salaries: Compensation in the US is significantly higher, which could help you manage your student loans more effectively. 2. Better Exits: The Chicago office is considered more prestigious and offers better exit opportunities, particularly in the healthcare space, aligning with your long-term goals. 3. Healthcare Projects: Chicago's MBB offices are known for their strong focus on healthcare, which could provide you with relevant experience for your desired career in pharma/biotech strategy.
Cons: 1. Immigration Challenges: Without permanent work authorization in the US, you'll face the uncertainty of OPT/H1B timelines. Losing your job could force you to leave the US within 60 days, which is a significant risk. 2. Abandoning Canadian PR: Living in the US would likely mean forfeiting your Canadian PR, which could limit your fallback options and global mobility. 3. Harsh Winters: Chicago winters are notoriously brutal, though this is a minor factor compared to career considerations.
Key Considerations:
Recommendation:
If your primary goal is to maximize career opportunities and gain relevant healthcare experience, Chicago is the better option despite the immigration risks. However, if stability and securing Canadian citizenship are more important, Toronto is the safer bet. Consider your risk tolerance and long-term priorities carefully before making a decision.
Sources: Q&A: MBB, BB S&T+IB, Top MBA, US/Global, Some Thoughts on Managing Multiple Offers (Consulting / MBB), Choose Between Two Offers (BB/MBB) - Looking for Advice, Why Consulting - Answering the Interview Question, MBB in Canada
Canadian at mbb Chicago. Chicago is a much bigger office and given you are already at Kellogg/Booth, it makes a lot of sense to recruit Chicago and get a US salary. You can always move back to Toronto later. Don’t think Toronto is “easier” since the office is so much smaller. Just my 2 cents
Fair enough, I only meant “easy” insofar as I wouldn’t have any immigration challenges in Canada due to PR. The US salaries are definitely more attractive, but I’m wondering if it’s worth enough foregoing a Western passport, which could arguably make long term prospects better given access to TN etc.
Would you know how feasible it is to exit from Canada to US with MBB experience 3-4 down the road?
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