BCG/Bain --> IB

I'm an incoming summer intern at BCG/Bain. I attend a target (MIT/UChicago/Stanford). I unfortunately was unsuccessful with IB recruiting last cycle, and managed to land a consulting offer. I'm dead set on IB for FT, and was wondering how I should structure my recruiting approach given the current climate?

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Comments (13)

  • Analyst 1 in 
May 14, 2020 - 6:23pm

Set up some calls with IB professionals at your target firms to see if they can help you out. Or apply online. With your academic credentials and internships, I highly doubt banks won't interview you.

Can you apply for another SA in IBD?

  • Analyst 1 in IB - Gen
May 14, 2020 - 6:27pm

Dude, how do you end up not getting an IB offer but get a MBB gig? The debate is hot on this but I'd take MBB over even mid-tier BB or low-tier EB. Think through it because sure you're not getting as much money but you'll be way better off and have a much better skillset with MBB than with IB

Also, pretty clear you go to UC Hicago. Did banks think you're just way too smart for them or nerdy or something? Haha just joking. YOu'll do well

  • Analyst 2 in IB - Gen
May 14, 2020 - 9:56pm

Entirely disagree with your advise. Was in the same position as OP a few years ago, but wanted to work in PE long-term so ultimately lateraled into banking. It's infinitely harder to get into PE from MBB (esp. BCG) than from any BB/EB. My mates from uni at MBB who are nearing 2 years are mostly looking at corporate roles/b-school now. Career trajectory is better from banking.

OP, follow first poster's advice, stay connected with IB contacts. I got interviews at most banks I knew people at.

May 15, 2020 - 12:16am

The real question is that if he is set on PE or HF then fine IB all the way. But if he wants optionality outside of that, MBB will prepare you and have the pedigree for that way more. More people in general know MBB than Credit Suisse.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.
  • 1
  • Intern in IB - Gen
May 14, 2020 - 10:02pm

MIT Uchicago Stanford. One of these things is not like the others.

Sorry, had to.

Advice part: I'll tell you that it will be very difficult to lateral from a non-IB non-finance role, but obviously MBB is highly respected and that will help you. The hardest thing is that the lateral market this year be very very limited. More banks may follow with automatic FTOs and banks staffed their summer classes before covid so they probably have more than enough SAs for the number of FTs they want.

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  • Prospect in Other
May 14, 2020 - 11:50pm

Commonality I can think of is elite schools, very academic, finance isn't front and center (obviously recruit lights out anyway)

  • Intern in IB - Ind
May 14, 2020 - 10:24pm

Not OP, but was curious by this first part. You mean MIT right? Stanford/UChicago place lights out in IB/MBB every year, and are listed equally on the latest college rankings list. MIT students do not place into IB/MBB at proportional rates.

  • Intern in IB - Gen
May 14, 2020 - 11:19pm

Hahaha good point, they are quite different for IB purposes. But I was saying Uchicago doesn't fit in. Despite what US news says Stanford/MIT are on another level

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