Evercore MP or Mckinsey SF Full Time?

I don't want to be in consulting or ib for more than 2 years, just wanna learn about biopharma space and get into biotech vc. I'm between 2 offers for full-time right now: 

Evercore in Life Sciences banking division (Menlo Park) or Mckinsey SF is generalist.

Pros of Evercore: I'll be only on biotech deals and can learn much more about the field and how to think strategically about business from a finance perspective + more pay 

Cons of Evercore: Not as well known, so may not add that stamp to my resume that Mck would

Pros of Mckinsey: Good to have on resume, will add that stamp to have my resume picked up consistently for future jobs 

Cons of Mckinsey: I don't think I'm gonna learn anything that concrete in the 2 years that I can apply back to my career aspirations + no healthcare focus + less pay 

Thoughts everyone? 

Comments (11)

Sep 27, 2020 - 2:17am

IB is likely better for VC, and given you want to do biotech or biopharma, then it'll be in your interest to work in that industry. McK doesn't seem to help you achieve your career goals, only give you a "better brand." Even then Evercore will be known to all VCs.

  • Analyst 2 in Consulting
Sep 27, 2020 - 11:26am

Not super helpful to your question but still something to note - Generally if you want to do consulting, I would suggest doing it in cities that are still high prestige like Chicago and Boston, but that aren't absurdly expensive, because pay is the same for all offices. It's honestly terrible pay for a city like SF or NY, which has been driving up the already high demand for those offices (Chicago, Boston, etc) across consulting firms.

  • Analyst 2 in Consulting
Sep 27, 2020 - 11:28am

Isn't one of the draws of McKinsey over Bain and BCG that McKinsey lets you specialize as much as you want, so you'd be able to do a lot of healthcare work? So I'm not sure about that con

Sep 28, 2020 - 5:05pm

Very clearly you got consultants rooting for consulting and bankers rooting for banking. You gotta ask yourself what exactly that consultants and bankers do in biotech and how does that experience 1) add value to their clients and 2) help you in biotech VC. I can only see if from the banking side and 1) people do exit to biotech VC, your desired exit path 2) you are creating a ton of value to startup biotech firms as you help the founders (almost all of them scientists or medical doctors) navigate capital market and partnership landscape. You are an important advisor to their lives work and help them with the most strategic question they face: how do they finance their research and bring it to the market? In terms of hard skills, you will develop a holistic understanding of the entire biotech landscape, really get into the disease modeling, and understand the intricacy of pharma partnership process. You will also participate in sell-side processes and build relationships with CEOs of biotech companies as well as Corp Dev of global pharmaceutical companies. You are raising money for your clients and helping fund their research, which will benefit kids who suffer from previously uncurbable genetic disease.  

As for consulting, well for one thing, I can't imagine these small biotech startups will give McKinsey millions of $$$ in exchange for a deck about something they already know. Don't get me wrong--McKinsey does great work for established pharma or generics I am sure, helping them with pricing, operations, IT, HR, or even optimizing research, but I just doubt they create any real value. McKinsey consultants please prove me wrong. I am all ears. 

  • 1
Sep 30, 2020 - 11:45am

EVR - unless there is any pipeline issue you will be able to get arguably deeper than with a consultant generalist approach even if you specialize. In addition to that, being rock solid on the deal side will help with VCs

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