I'm lucky enough to be currently sitting on two offers: one from a top consulting shop (McKinsey / Bain) and one from a MM bank (Stifel, Montgomery).
If I'm looking to break into private equity or possibly venture capital (growth equity division) in the future, which job would give better exit opportunities?
I'm leaning towards the consulting gig thanks to the preftige, but also due to the fact that if I do some PE due diligence work I probably won't be screwed when it comes to breaking into PE/VC. Please correct me if I'm totally off.
Insights please! Thanks! Much appreciated!
BankingWaffle
You're probably going to get a lot of mixed answers but I would say go with the consulting. Plenty of PE shops hire former top consulting guys.
I agree with Thebigbambino guy
go with the preftige,
it will open more doors/better names initially
Nor do you need DD experience - I got a PE offer without it from MBB. Had the same choice as you (MM IB vs. MBB) and definitely glad I took consulting.
McKinsey/Bain for sure. Linkedin is your new buddy. Do some research on Techstar's guys. One of them comes from Bain.
Really depends. I think consultancy provides better training but then you need to recognise that a lot of PE guys are ex-bankers and automatically prefer their own kind. That said, I dont think your MM shop would kill it in PE recruiting as much as GS/MS do, so M/B wins this contest hands down.
As for your case experience, I agree that DD experience isn't required to get in, but will make it easier for you to hit the ground running once you are in. Also goes for growth strategy and restructuring projects of course.
PS DD experience will make interviewing much easier though as you can discuss stuff with your interviewers that they can 100% relate to...
BW,
There's quite a bit of asymmetry between the quality of consulting firms on one side and that of the banking firms you mentioned.
The short answer is: Absolutely go with Bain/McKinsey. It is a no brainer.
Longer answer: 1) Banking and consulting can both get you to VC. I did banking, and my equivalent at another VC shop (that we work with often) did consulting. We had the same major at the same school. I'm slightly better at modeling and structuring a deal, and he has more insight on regulatory and operational issues, but we do the same thing essentially. 2) If you were hesitating between a Morgan Stanley/Evercore and a McKinsey/Bain... there, I would understand... but Stifel?! No offense to current employees who may read this, but it's a second tier MM shop and just doesn't compare.
Congratulations on the offers. You have a pretty simple choice to make in my opinion.
you are slightly better at modelling than your consultant friend? you didnt du industry coverage/m&a or what?
Let me answer with a quote: "Modesty is the art of drawing attention to whatever it is you are being humble about." Yes, I'm probably a trillion light years ahead of my consultant friend as far as modeling. But that's not the tone I wanted to broadcast in my original post.
Listen to this.
If it's MBB I would go with that over a boutique or mid market IB shop.
Exit Ops - Consulting vs Finance (Originally Posted: 05/09/2011)
I'm new to the forums and I have some questions about internship paths.
I would like to go into Asset Management or trading in the future, but haven't been able to land a spot for the summer. Would it be better to go into FT recruiting with a finance analyst or litigation consulting internship?
Also, on the possibility that I don't get into am straight out of school, which of the two type of jobs would more likely lead to a better mba?
"Finance analyst" is very broad. What exactly is the internship? Let us know so we can help you out.
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