Transitioning from consulting to IB
Hi! I'm a rising senior at a target school. Currently doing an internship in consulting remotely which will extend through August, but was planning to do FT recruiting for consulting in the fall. I've talked to a few people who recommend keeping options open and looking into other career tracks as well. I was wondering if anyone's been able to make the jump from consulting to IB/related fields in business/finance this late (rising senior with no previous IB internships/experience) or if anyone has advice on how to recruit for IB in this situation?
These things depend on specifics: 1) What tier consulting firm were you working at? (MBB; T2; No-name boutique)? 2) What IB are you specifically asking about the feasability of (BB; EB; No-name boutique; Regional; NYC?)
L
IB FT recruiting is notoriously difficult (FT recruiting is much, much harder than SA recruiting). Given the macro conditions and the fact that some firms gave all their interns FT offers, I suspect it will be even harder this year. My understanding that it's very difficult to trade up (i.e. remaining FT BB spots go to people from other BBs, etc).
MBB/T2 recruiting, on the other hand, does not have as large a delta in difficulty between summer spots and fulltime spots (some argue summer is harder, but it's debatable). A sizable number of people work at meh consulting shops junior summer (or not even a consulting shop) and go to MBB.
Nonetheless, it's pretty clear that for full-time, consulting is generally "easier" to break into without prior experience than IB (for summer spots, the opposite is probably true, at least at the undergrad level).
I’m also in the same boat. I’m at a tier2 consulting firm and was wondering if I even have a chance to get bingo IBD FT cycle? Ik the chances might be less than 5% but still would appreciate any tips
Why don't you try for MBB?
bump
Kind of in the same boat. Working at MBB this summer and was considering recruiting for FT IB before rona hit. Is it even worth trying? I feel like it's going to be insanely difficult with some banks having already given FT offers to interns.
Just curious as to why you're thinking MBB -> IB?
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