Doing Banking and Consulting Recruiting at Same Time
This isn't going to be a debate about the pros and cons so much as has anyone done both consulting and i banking recruiting at the same time?
I ask because I'll be interning this summer at BB as a sophomore so will have next summer to either return to the firm (obviously with a return offer), switch to another or move into consulting. I think I still have the idealized version of consulting and MBB in my head and it's heard to shake that off that it could be a good option versus banking.
On the other hand, I don't want to spend my whole college experience doing recruiting. I worked hard to get an internship this summer so I could hopefully spend the rest of college relatively enjoying my classes and just having fun. But then again, don't want to limit my options.
For those that did both at the same time, was it worth it? How time-consuming was it? Should I decide beforehand what I want to pursue?
Any advice would be appreciated! Thanks!
Also interested.
Bump. Anybody?
I did recruiting for both when I was a senior, but I was more committed toward IBD. I didn't really study up for consulting interviews, since all I really needed to do is just modify my answers for "why banking" into "why consulting" (what more operational understanding of businesses, etc.) and also brush up a bit on case interviews. I felt like consulting interviews were always geared more toward seeing how you broke down a given situation vs a right or wrong answer; you can take multiple paths to identifying why a company is losing profits but there's really only one logical way to track depreciation through the three statements.
If i were you, I wouldn't do interview for consulting "just to test the waters". It's more stress and generally unlikely to give you a better understanding of what it's really like to work in consulting (at least, anything you could get out of the last 5 minutes of an interview could be done much better and low key through an informational interview). If you want to do banking, then focus on getting a FT offer. If you find you hate banking, then try and find what you actually want to do (though if you absolutely hate banking in general and not just your group, then I suspect that doing consulting wouldn't necessarily be ideal for you anyway).
Great thanks CHItizen! So how was case prep for you, then?
And I guess, the thing is, even after talking to people, I'm still not sure if I want to do consulting. I've heard both good and bad. And it does not necessarily seem any better than banking in any way. In a perfect world, I'd be able to do consulting next summer and then choose (without having to go through recruiting) one of them. If only...
I didn't really do much case prep to be honest, but if you want to, just look over some of the sample cases in the Vault handbook or your school's consulting club guide (if there is a consulting club, if not, I think there's one on the internet somewhere from Wharton). Like I said, I don't think cases are particularly hard in consulting because all the knowledge you can be legitimately expected to know is mostly general business stuff that you'll know after an IBD internship anyway.
It'd be great to be able to do internships to figure out what you like, but oftentimes the most competitive industries (finance/consulting) force you to go one way or another pretty early in college, but there's always business school. Also note that consulting and finance aren't the only careers, despite what everyone else in your class seems to believe.
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