MBB “Up or Out”
When MBB firms make presentations, they usually show how about 20% of their UG hires get directly promoted, another 25% or so is sponsored to do an MBA and then, the remaining ~55% goes on to other “opportunities”
There’s obviously a lot of people that simply move on to better things or decide they want to make career changes. My question is how many of these people in the 55% voluntarily left after 3 years of consulting?
For MBB my understanding is very few get pushed out. They protect their employees.
almost all leave voluntarily to industry or other opps - burnout is real.. have seen many friends leave at the first chance they get
re; pushed out, rarely happens but it does(did?) and i heard the figure was around maybe 2-3~
The irony. People flock to consulting as if it’s wildly different than banking. Burnout is real, regardless of industry.
People burnout from 40 hour a week corporate lifer jobs as well. To say that alone equates consulting decisions to IB on the basis of quality of life is pretty silly. IB is still far worse than consulting on that front. It's just that consulting remains quite difficult and far worse than your average corporate job.
The cases of up-or-out I've witnessed were mostly at the EM/PL/CL or Manager/AP level, not at the MBA level. There is indeed a lot of voluntary moves due to people not wanting to go through an extra ~6 years of intense work.
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