Ok so here goes:
Graduated from a School Banks Target (non-Ivy) 2 years ago but did not get a banking offer. Instead, ended up at as an analyst a small hedge fund making squat for money but getting way more experience (cross-sector) than I think I'd have gotten elsewhere because of the firm size.
Now I have a potential choice between the following:
1) MM Advisory associate (think PwC, Booz, Deloitte) 2) Research Analyst at a BB IB
I'd like to get right into banking at a BB, but I realize neither of these fits that exactly. I think comp is roughly equal, looking more at long term opportunities. Really, I want to have my options open for a potential HF/PE/IB job 10 yrs down the road and I'm aware of the exit ops for IB. Im also open to MBA or Quant MA at some point for 'rebranding', but I've seen skepticism for that on here.
Im not sure I'll get an offer for either, but which would you choose in my situation and why (assuming both are on the table)? Would I have a shot at an IB associate job in 1-2 years after Research or would I still need MBA?
I'd personally go for the IB jobs. From what I've seen of people I know working at PwC, Deloitte and the like, you still work long hours and a lof more travel. This may vary based on position but your quality of life is still not that much better when you compare the two. Then when you weigh in the factor of BB IB exit ops it just seems like a no-brainer. On top of that you'd def. be eligible for promo to associate without an MBA. I know several that have done well in their first two years and got promoted in good time. Good luck with the decision.
Honestly as a former Big 4 employee I think you'd be taking a step back to go the consulting offer. Research analyst has a direct and proven path back to hedge funds, Big 4 (and comparable level) consultancy does not. Many in the finance world (in the US at least) do not take the Big 4 seriously except for back-office/accounting and control related roles.
I appreciate the response and don't disagree with what you've said, but I want to clear something up. The advisory position is in the corporate finance group of XXX firm (not consulting group). Since you're former Big 4 you probably know better than me, but my understanding is that this is mid market M&A banking moreso than consulting (in the strategy sense).
Granted it is a big difference between doing a $25 mil deal and a $500 mil deal, but my thought process was that maybe mid market banking is better than no banking (the Equity Research) even though firm would be less prestigous. I guess if future hiring managers are going to look at my resume and confuse with Tax/Audit, it doesn't really matter that the work was similiar albeit on smaller deals.
Am I misunderstanding the corp fin position? Maybe PM me if you don't mind, I dont wanna give away the specific firm on a public board if possible.
Sick Avatar and Signature by the way, youve clearly got the mind of a scientist.
I agree with the other two posters.
as someone who moved from big 4 advisory to BB, i agree with those that say go straight to BB. There is a proven path from research to HF, and even out to consulting if you decide that is where you want to be. Often when you scan a resume and see Big 4, you assume accounting and move on..
I'd say go with the bb. If you graduated from a target UG and get a decent GMAT you should get into a solid MBA after a few years at the BB and then you can go IBD - > PE farther down the road.
Voluptatem aspernatur voluptatum temporibus placeat. Rerum sapiente dolorem recusandae voluptatem perspiciatis. Eum rem deleniti porro illo consectetur recusandae omnis.
Doloribus voluptate itaque et voluptatem inventore nam. Nihil labore voluptatem non tempora similique culpa. Ipsa dolorum est accusantium quas in quo. Et nihil labore vel ullam quis.
Qui ipsa sint natus doloribus aut aperiam doloremque. Unde ipsam deleniti distinctio quasi neque vel. Rerum autem saepe aperiam dolorum saepe.
Iste iste inventore voluptatum sit placeat. Possimus amet totam natus sunt. Eos officia similique velit reiciendis saepe impedit. Libero praesentium aperiam sint autem recusandae recusandae eos. Dolores dolor qui provident corrupti illo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...