Prestige does matter?! McKinsey or GS?
Which one is the most prestigous and creates the MS Vista effect " WOW " ?
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Both are top of their fields but have different "wow" effects with different people.
I would say that GS is flashier, McK is more elite (ferrari vs bentley).
And in general terms, regardless of division just the name of company..
Which ones really gives a "WOW!!!" effect? GS or McKinsey?
I know even McKinsey corporate finance people who are very impressed of GS and regard GS as more prestigious as McKinsey...
MS Vista effect "WOW"...?
You lost me there, buddy. Both of them are very prestigious. Bain, BCG, MS, and Lazard are also very prestigious. I would personally say GS, but a consultant might say McKinsey. You're not going to get a consensus here.
in a second GS. Everyone knows GS,dude on teh street does not know McK.
And why do a shitty job for way less money. You can make more money at B of A than you can at McK
Shitty job? McK offers much better hours. Although you're not getting compensated as much, you easily make more on the hour than banking. I think it'd be pretty sweet! And Corp Fin McK can land you all kinds of exit ops, banking being one of them later on. Come on!
As for the name, it's a tight call. I'd say McKinsey, because the structure of the interviews seem harder, and much less people get taken in, whereas Goldman will take you if you have a high GPA, good exp, and are decent with people. Eh.
more on the hour means squat. let's see you try to buy a house, car or pay for b-school based on your hourly rate. what matters is total comp.
if you want to do finance/banking/investment management go for GS. if you want to do consulting, go for McKinsey.
that is all.
or you could have m/b/b pay for your business school with a 2 year commitment after graduation. that's equivalent to a $220K+ i-banking bonus taxed at 49%.
are you seriously suggesting that the work hours don't add to consulting's appeal? i think if you asked 99 out of 100 bankers they'd say they prefer consulting hours to banking hours.
haha. yeah, and 99 out of 100 consultants would prefer banking pay to consulting pay. im pretty sure that both of these facts are a given.
There's also the fact that with MBB you'll probably get into a better business school than out of an analyst program (you can still do fine if you go to PE, but just being an IB analyst is not really respected in bschools anymore). You can enjoy yourself when you are 21-24 and decide that if you really want to do finance, go to banking (try to network in, it has happened, or go to a top bschool and do it). I suppose you do miss out on the opportunity to go to a top HF preMBA, but PE is definitely possible.
GS is the best!
2 year committment to what? working in consulting? adjust for forgone career comp in ibd/pe/hf/inv mgt. $220k pre-tax doesn't make up for it.
hours add to consulting appeal, but i doubt that consultants are at home by 3pm, without having to travel very often and get paid as much as bankers. sure some bankers would prefer consulting hours, but for consulting pay? don't think so.
personal experience. i have been extreamly fortunate and would not be where i am if i had started at McKinsey/BCG/bain or whatever. go for what you want directly, so that you can figure out early in your career if it is for you, transition if it is not and so that you can build on it if it is. don't try to find an easy (if you can call it that) back door way of doing it, because you may limit your options and the transition will be more difficult than what you expect. right now there is a high demand for people to work in desirable finance jobs ib/pe/hf/invmgt. we don't know if this will be the case after you go to b-school or that you will come in at an appropriate level with the appropriate experience/contacts.
the original qeustion should be veiwed as a consulting vs. banking career question. choose what you want to do between the two and make the decision approrpriatly.
it's not about the decision to pursue a consulting or banking career..
it's about prestige...
it's about impressing people about the WOW effect...
it's about making others very jealous about PRESTIGE!
Although the interview process and the number of recruits may differ...GS is the true culture of success...
I think people are the most impressed by GS.... nothing above GS...
No single firm has over 20,000 applications for full time globally in 1 year...
prestige by working at a bank? maybe for the middle class/upper middle class, but when you work at a firm like gs or another where your income is comparable you realise that the prestige is relative. you won't have the prestige that many of your clients have or that an embassidor, or minister of finance has at a significant country, or something like that would have. unless you head gs's ibd or something. significant prestige is not a function of where you work or where you studies, rather your achievements and reputation and a matter of heritage as well.
just trying to carry on the discussion by extreme statements..
I made up this discussion because I am sick of this discussion coming up at each party at my university..
just wondering how other people think about it...
forget GS vs McKinsey, yo ushoudl focus on going to better parties.
And I agree with streetluck
bump
streetluck22, those sound like awesome parties. What school do you go to? I need to crash one.
Also, getting 20k applications is not that great. I cannot tell if you are being sarcastic here. In fact, I could be surprised if GS did not get more. I know the number of applications for the post-college level at one of the top consultancies, and it is multiples of that number. GS has many more divisions and hires for many more entry level positions (all told, the IBD class is about the same size as one of the M/B/B classes, but when you add in FICC, ops, etc. it gets much bigger).
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