Banking > Consulting for Corporate Exits?
I’m comparing MBB with top BB/EB in this situation. People often say that if you want to exit into a corporate function like corporate strategy at a F500, or later on in your career into a C-Suite role, you’re much better off doing consulting. People say that if you don’t want to do investing roles (PE/HF), then don’t do banking. I’m wondering if this is even true or if it is just self selection, and that the same corporate exits are open for bankers as consultants, just bankers choose to do PE/HF because they’re more interested in it and buyside roles pay substantially more.
Based on the most helpful WSO content, here's what you need to know:
Banking vs. Consulting for Corporate Exits:
Exit Options:
Self-Selection:
Perception and Reality:
Career Flexibility:
Conclusion:
Both banking and consulting can lead to corporate exits, but the choice often comes down to personal preference and career goals. Consulting might offer a broader range of exit options and better alignment with corporate strategy roles, while banking can provide a competitive edge for high finance roles and certain corporate positions requiring financial expertise.
If you have any more specific questions or need further details, feel free to ask!
Sources: Q&A: Consulting v. Banking, the age old question. By Former MBB and Bulge Bracket Banker., Q&A: Former MBB Consultant, Am I missing something about buyside exits?, Why do you go into PE only to go into HF, Why Would Anyone Go Into Consulting?
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I spent my whole career in PE/RE before landing a Corp Dev job at a F50 company. That said, everyone else I work with at the VP level or above came from consulting or rose up the ranks in corporate. I'm not saying banking won't get you here, but there aren't a lot of transferrable skills to go from being a salesman to strategically leading a company. Most of my friends who are bankers are extremely knowledgeable about the sectors and products they cover, but they are not operationally minded. Consultants usually have more operational experience through their mandates or at least the critical thinking that lends itself to operations/strategy more than banking.
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