Imagine the following situation of two MBA Candidates hunting for a job:
Candidate A: 2 years consulting experience before MBA
Candidate B: 8 years consulting experience before MBA
Both candidates A and B want to go work for an investment bank now. As far as I've seen, investment banks recruit for associate level positions out of MBA programs. While candidate A may be happy going to become an associate since he only has 2 years of experience and his prior salary would have been lower, candidate B probably isn't happy that he gave up 200-300k a year as a senior consultant to go make 140k as a junior banker. Do investment banks/consultancies/corporations have a way to reconcile this or is it just "suck it up and become an associate or go find a new job"? Would the investment bank/consultancy/corporation ever say "well you made 200-300k previously so we can just make you our most highly paid associate at $250k"?
Does this response change based on the type of company? Are corporations more flexible to say "OK we'll start you at manager even though our OCR listing was for an associate"?
First year associate comp is around/north of 250k depending on BB / boutique so your numbers are flawed.
Regardless, banks will only hire as associates. I've never heard of an experienced level hire out of an MBA into banking.
Obviously corporates have more flexibility. But if they were looking for an associate, why would they hire a "manager" as you put it?
I've heard of rare examples...people with very relevant skills and lots of experience - however, this was always done outside of on-campus recruiting and exclusively done through their personal network.
Anyways, the whole question is silly...I can't think of any senior consultant who would ever think of recruiting for IB. There's just not a value proposition. He's probably burned out (if not, he'll go back to consulting at a much more senior role than banking would provide), in which case why would he choose IB which is even harder. Furthermore, he's developed skills that make him extremely more valuable for corporations than finance, no reason to start with a blank slate with IB if you are already valuable.
@opsdude1 this helped, ty.
I'm just thinking about if I finish up 8-10 years of work in IB/consulting and I want to go join bizdev/corporate strategy life if an MBA is a reasonable way to make that transition (assuming I lacked connections to the type/industry of corporation I wanted to work for in the first place). Based on your response it's possible but more likely that you do it through networking anyways, so the MBA on its own lacks value in placing me into a manager level role.
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