Banking vs Consulting Internship for McKinsey

I was wondering what everyone's thoughts are on the following:

So let's say I want to work at McK/BCG full time and it's not happening this year - was totally unprepared for cases and what not.

I have a IBD BB internship my sophomore summer (think Leh, ML, JP).

If given the choice between a top shop (don't have the offers but waiting to hear back/have superdays) and a consulting firm below M/B/B, what is the better option to make sure I get that McK interview?

My thoughts are that I could really strengthen my banking skill set since I would come in with a summer already under my belt but I don't want to be stuck doing banking for 2 years either and want to make sure I can get into McK or BCG.

Comments (10)

Feb 5, 2009

If consulting is what you want to do..go with that for the summer. Mercer, Deloitte Consulting (best choice - since it's strategy), Accenture - should all be good.

Although a girl at my school did intern with MS - M&A for an SA position, then received FT offer for both BCG and Bain, McKinsey didn't recruit here, but I'm sure she would have gotten it too.

Feb 5, 2009

did she interview with BCG and Bain for their summer spots?

And I was thinking more of Oliver Wyman, Monitor, Booz

Feb 5, 2009

Do banking for a second summer. Brand name is at more of a premium than applicable experience in your case.

Feb 5, 2009

Do consulting. Not because it'll guarantee you that spot at McK (although I know a lot of people who have traded up internships at lesser firms to M/B/B), but because if you like consulting and think that's the type of work you want to do and know you don't want to be a banker, you should work in consulting.

You'd be surprised as to how similar the work at Monitor, Booz, Oliver Wyman is to M/B/B. If you go back to banking, you may well end up stuck in that. Since you already know that's something you'd prefer to avoid, you should avoid it.

Feb 5, 2009

don't do banking for the sake of doing banking. do what you enjoy

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Feb 5, 2009

well mckinsey is a consulting firm... so consulting

Feb 5, 2009

I'm not going to say it again... internship at Deloitte vs. internship at BB: work at the bulge bracket.

Feb 5, 2009

They might also wonder why you did two summers at a BB and are now wanting to go into consulting..

Feb 5, 2009

if you want to do consulting, intern in consulting

Feb 13, 2009
Comment
    • 1