Finance Kinda Sucks
Ignore the title. I signed my return to start FT at the MM firm I interned at this past summer, but I have no interest in IB anymore (didn't mind the hours but thought the work was boring, also have little interest in PE or traditional exit opportunities). I'm recruiting consulting right now only because from what I've learned, it's the only lucrative/prestigious career start that will (theoretically) allow me to learn about different industries, potentially get my MBA or not, and then do what I actually want to do (music executive, movie studio executive, sports executive, idk something in that realm).
Is this realistic or should I just stay in banking? Any advice is much appreciated.
Good mentality to burn out before your 2 year analyst stint.
Appreciate the advice
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MBB consultant here.
Unsure if I agree with your point about the MBA opportunity. Lots of my MBA peers were ex-IB. Definitely seems to be an option if you choose to pursue one.
Also, consulting is also fairly boring. After you learn the ropes during your first year or so, it's just honing the skills through more reps but not a whole lot of net new learning. That being said, my buddy who came from IB said our job is much more interesting, though this is just one man's opinion. Never done IB, so can't give a personal take.
Consulting is definitely not a bad choice as long as you can handle the stress and hours (which might not be an issue since your alternative is finance anyway), but there are still some downsides vs a finance seat.
1. Lower comp.
2. Different exits. IB can lead you to true buyside roles as well as operational roles. Consulting is by far and large a feeder into ops/strat exits with a small minority making it into buy side (and even that generally only at lower levels).
3. Politicking. Consulting can be very different from banking in that even in very junior roles, you'll be flexing your interpersonal skills very often: with clients, with your leadership, with your teammates. Fully acknowledge that this may be the case in banking too, especially at higher levels, but at MBB you'll be interfacing with C suite and networking your way onto staffings from year 1.
Happy to answer any Qs you have, but I truly think IB and consulting are actually more similar than they are different
agree, its about the same shit at the end of the day. splitting hairs
Yeah it does. And consulting is just as boring. Most high paying jobs are.
If you truly want to be a movie / music / sports executive, you’re likely better off just choosing one of those to pursue and jumping into that industry right now — rather than going the consulting / IB route and trying to spin your story so you can lateral later to what you “actually want to do”.
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