MBB Job Hopping - How does it work?
Hi all,
I was looking to seek some advice on job hopping across the MBB, as I seek to learn more about the long-term.
I know friends (apprentices) have gone onto do similar, and it is a common practice in Accounting to try switch firms should you not get what you want/for pay increases (i.e. an Audit apprentice at PWC can't move internally to Transaction Services/gets paid better at Deloitte, so moves to Deloitte).
I also am under the assumption frequent job hopping may look a bit poor on a resume, i.e. doing one year at X, moving to Y for 1 year, then to Z for another year. Please correct if wrong.
But, I was looking to enquire about what this is like in MBB. In a more specialised industry with 3 firms at the top (and assuming I want to maintain my brand by sticking to MBB only) - does job-hopping work/exist? Is it common to move, or, is it more a case of being relatively loyal and making a switch sparingly should you ever need to?
If it does exist, what are the logistics of employees moving between MBB go up the hierarchy in each of them (that can differ slightly) i.e. may they lose a year in their seniority?
I am asking as I'd love to know what it takes to obviously go up the chain of command & wondered if job hopping affects that, trying to learn a bit more about the typical progression of consultants (understand also some pivot into PE; some work with PE clients, can build relationships, etc...)
Apologies if I make any poor assumptions, happy to correct if anyone spots any.
Thank you!
Also to add to my above question, can anyone answer the below question:
- What is the more senior hierarchy like (following on from this thread you can click here) within MBB & what is the typical cap to salaries/where you can progress to?
Have heard millions of dollar salaries online but 1) I'm unsure at what chain in the command this is and what it would take one to get there (progression stages, age etc.) and 2) pinch of salt as it's online and figures vary.
Equally, I remain unsure on the senior positions as I have seen 'Associate Partner', 'Principal' but unsure at what stage these are (can only assume) & how it compares to the standalone title of "Partner".
If someone could help with this too, I would really appreciate that.
Super rare to job hop between MBBs. Does not make sense at all, since salaries are only marginally different. Furthermore, at least at McK, there are substantial alumni benefits/services, which you are immediately cut from if you hop to BCG/Bain
Thanks for your reply!
What are the alumni benefits/services at McK?
I have heard they are open to you also exploring other jobs, taking a day off to interview etc. which sounds surreal if I am honest.
That's the norm for consulting firms tbh - building an alumni network among its clients is a key part of MBB's secret sauce.
Virtually no one ever does this as it doesn’t make sense
Thanks for clarifying, but could you explain why?
Search function will get you lots of answers. In short they’re all so similar it doesn’t matter and you’re better off performing as best as you can at your current firm
You will absolutely be a red flag in finance if you are job hopping a lot - it's one thing and understandable if you went from random job to boutique to MBB for example, but hopping around at reputable firms, chasing the incremental $10-20k and having a new job every year, or having more than 1 short stint are going to start impacting you.
Also, this forum is really investment banking focused - you may get more answers on the "CO" forum (Consulting) but WSO as a community is very centered around IB and PE.
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