EB IB SA -> MBB FT Worth It?
Hello,
I am currently working as a summer analyst in M&A at a top EB (CVP, EVR, PJT) and am considering re-recruiting for full-time at MBB.
I'm not hating my current internship and seem to be on track for a return offer, but I also want to work at a bigger platform that MBB would provide and focus more on strategic advisory.
Does anyone have advice on whether the move would be worth it considering the downsides (sizeable pay cut, potentially worse exit ops, etc). Long-term would be interested in getting an MBA and possibly moving to the buy-side. Lifestyle seems to be a wash between the two.
Thanks.
They're incredibly different jobs with very different career tracks.
If you want to go to the buy side, it's infinitely easier coming from IB. There are MBB consultants who end up at top PE firms, but it's definitely a more uphill battle vs coming from a top EB.
If you're more interested in a corporate strategy role in the future, consulting is a way better training ground for that- many more consultants end up exiting to startups, F500, etc. Many people who I know in consulting are ultimately interested in CEO type roles or starting their own company.
Comp will be similar at base level and a decently lower come bonus time at MBB, but I don't think enough to factor into a big career choice. MBA admissions are probably slightly better from MBB, but buy side recruiting will be much harder from an MBA unless you come in with previous investing experience.
I recruited for both and chose IB so feel free to ask whatever else
I don't think it's fair to necessarily say it's infinitely easier coming from banking, but it's obvious from a volume perspective that there will be more bankers. Something to keep in mind is that there are far fewer consultants going for these spots (and most who do don't have the requisite finance experience). If you're good enough to make to the buyside from banking, you'll do just fine from consulting. I’d make the decision on what you actually want to do for the next few years rather than exit opportunities.
That's fair- my point was more that there is such a pipeline to PE from banking (especially at an EB) that the process is just made easier- headhunters come to you, etc. From my understanding / the people I talked to when I was considering IB vs consulting, it sounded like recruiting from consulting to PE is an uphill battle. Not to say that firms don't hire consultants, but just that it takes a lot more legwork from a consultant to land a PE role as compared to from a well-known bank.
(OP here)
Thanks for your comment. If you don't mind my asking, what type of bank did you ultimately end up choosing? Are you happy with your decision to have gone for baking?
Definitely see the advantage of the EB for PE. Was thinking possibly recruiting for Bain because they have stronger PE placement
What type of bayside?
.
How is the lifestyle a wash between EB IB and MBB?
If you're in a relatively good group at the EB (good culture), it's a question of if you want to be working more hours in the office/ at home in banking or fewer hours at the client site 4 days a week in MBB.
Don't think the hours are considerably better at MBB either (know a number of people there who regularly work past 11pm M-Th).
Personally, I'm not sure I want to be consistently travelling M-Th and working on the road...
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