UK FT MBB vs MM IB
Hello monkeys,
I just received a FT offer for MBB in London. I also have a FT MM (Think HL, Jeff, RBC) IB offer in the top team after completing a SA stint.
I have a dilemma on which one to go for, and would appreciate perspectives, especially from experienced professionals who have had a similar choice (MBB to IB, or IB to MBB)
My mind is split right now: I really enjoyed the internship, I fit in well with my team with great culture, and the comp is more than twice that of MBB, with good career progression (opportunity to fast-track to Associate, and I see the team growing in the short-medium term).
However, consulting has have greater variety of work, opportunities to work in other offices, better working hours (Which I do not mind) and a much better brand name than my MM IB, which opens the door to MF PE.
I am in a very fortunate position. Currently, I lean towards MBB due to the brand name and greater network, but I’m genuinely torn. Some questions below to get the discussion started:
1. For those who have gone MBB → IB or IB → MBB, what do you wish you’d known when making the choice?
2. If you were in my position today, which would you pick and why?
3. From a London perspective, how would you think about MBB vs MM IB in terms of:
- Long-term exit opportunities (PE / HF / Corp Dev / others)
- Brand and network value over a 5–10 year horizon
- Actual lifestyle difference vs the stereotypes
Bump
Bump
Thanks, I am oxbridge, although recruiting this year was brutal across my cohort
Currently at UK MBB and your premise is wrong. New cohorts aren’t more than 50% Oxbridge. 40% probably made up of UCL, LSE, Imperial, Warwick
OP here
Curious why there is such a heavy skew towards MBB, would love to hear your thoughts on the decision (is it brand name/prestige, better hours, or something else)
My two cents are that MBB is undoubtedly better placed to get you MF PE looks, if that's what you want. For what it's worth, I think Consultants should be nowhere near PE, their training is barely fractional of the skill-set and transferability in what you learn IB. BUT, truth be told, MBB will open doors that MM IB will likely not, if that's what you want. As for lifestyle, I'm not sure that MBB is a 9-5, things can definitely get busy but will likely be below what peak IB hours can reach.
Thanks for sharing your POV. I agree, although the argument could apply by going with MM IB and then lateralling to BB/EB if I want to try for MF PE, the MBB route will open more doors in the short-medium term.
AN1 at BB in top group in london. Just from reading the title, go to the consulting one. Finance sucks hard and we really don't learn anything useful apart from being submissive and accepting whatever the insecure VP says. Consulting might not be that great but hours are better and, apart from PE which I tried and don't like, exits are actually broader and better too.
Summary, would take consulting without thinking it
Thanks for sharing your take, I am leaning more towards MBB after conversations with other people. If you were at a team with better culture (No face time, supportive team, and a clear path to promotion) do you think you'd still feel the same way?
"no face time, supportive team and a clear path to promotion" chill mate, that's not happening. You might have gotten a nice impression during your internship (so did I to an extent) but that's not your full-time experience when you actually have to deal with middle management and there are real expectations on you.
Some groups are better, some worse. But you won't get the super nice team with interesting work.
Banking work is just not that interesting, and it is becoming a commodity (no one can say "we will hire MS over DB because their advice will lead to higher synergies", it's just about building relationships long-term and hoping to get rewarded with a mandate) which has led to fee compression and higher competition (and lower salaries in real terms), also defeating the point of path to promotion, as the career becomes less attractive anyways (look at historical salaries in banking in real terms, this is even more acute in London). Tbh consulting is probably suffering from the same issues, but at least your exp will be nicer and then can exit to more cool stuff
MBB. MBB LDN is so much more selective, due to LDN having primarily a strong finance sector. You still have MF options (Investment team), you have options to work in portfolio companies, are set up well to become a founder and will have a lot of general exit opportunities related to your sector / group. In LDN without a doubt MBB.
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