Big4 Advisory or MM Restructuring?
I'm a 3.6 GPA from a target school, but a non-target major (Stats and Govt instead of BBA).
I have an offer for a Big4 advisory position, focusing on financial services consulting, but also have an opportunity for a solid MM Restructuring firm, which would be heavily deal-oriented.
Which job is better? Am I wrong in thinking the Big4 name and network would help me get into a top 10 MBA program, whereas the MM Restructuring would only bring me to a small/medium HF/distressed fund? Would MM Restructuring keep me away from a top MBA program?
Thanks
I think MM Rx is more impressive than Big 4 financial services consulting. You are basically providing outsourced diligence, analysis, compliance, etc. for banks and insurers. That is very commoditized IMO. There are many consulting firms below Tier II that provide such services.
However, unless you are at a top Rx group (i.e. HLHZ), you may want to think about the current state of the market. Rx and turnarounds are incredibly slow right now b/c the glut from 2007-2009 have been worked out of the market. That would be my key concern. The experience and what you learn is going to be more valuable IMO. It is more a matter of how much experience you will be able to get on your resume.
A handful of people from the Big 4 do make it to top programs but almost all of them apply with minimum 3-4 years experience.
Personally, I think MM restructuring would give you better long-term career prospects. Regardless if you work on the audit or consulting side, when people see a Big 4 name you will automatically be typecast as an accountant or MO/BO-type. I can speak from experience, it's not easy trying to break out of that mold
I would take the restructuring offer hands down. Its 10x more interesting than regular banking. The restructuring space is small though so outside BX, Laz, Rothschild, and HLHZ there is a massive clump of firms like Moelis, Evercore, Perella, etc who are in that next tier... Not saying they are worse but if you look at Rx league tables in terms of market share and deal flow the top guys dominate the space.
Actually, if it's a decent MM then a restructuring role would be very interesting and will probably give you more interesting stories for MBA vs. Big 4. Also, it would make it easier to lateral to a BB or try for a MM PE role than a Big 4 Advisory role. If you could get the MM role, assuming the MM is a well respected firm, I'd take that instead.
He isn't going to move from MM Rx to BB.
I forgot to put "if you're so inclined" or "FYI if this is also something you have in mind".should he want to also consider a lateral option in between a pursuit of an MBA or in place of one.
I believe both would be great experience for MBA. Big 4 Advisory does in fact place well into the highest tier of business schools.
If the "advisory" isn't at all strategic, which, from the sounds of it, it's not (i.e. sounds more like D-F compliance work? correct me if i'm wrong), then you will be f*cked for Bschool admissions.
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