Skipping the MBA after a 2 year analyst stint?

Hi I'm somewhat new to this site so don't shoot me.

Rising undergrad sophomore here; I've been looking into career paths and am taking a big interest in consulting. I know the typical path is analyst/associate (2yr) --> MBA (2yr) --> senior consultant --> etc.

I go to a target school and am learning finance, so I feel more b-school would be a little unnecessary. I would obviously much rather focus on career and make some more moolah than go back to school after only 2 years of having a job.

I know consulting is great because the exit opps are pretty broad, so I'm not even assuming that I'll stay within consulting after 2 years, though I'm ofc not assuming I'll leave so soon either. The work seems pretty engaging, though of course stressful. So just wondering, is it possible to skip b school? And what % DON'T go to b-school? And where do these people go? For sake of specificity, let's assume MBB, which is what I hope to aim for.

 

Depends on the firm and division. MBB it will be very, very difficult to skip b-school as everyone else does it. Some divisions like ops or tech MAY not require and MBA at other firms but generally the typical path is clear.

On a second note, you in a way answered your own question. You don't know if you like consulting yet. If you decide to leave and you're a solid performer, you may very well bypass an MBA and go into industry. All in all there is no cut and dry in this, its all highly variable.

Good luck mate.

No pain, no pain.
 

From my experience, there are a good number of MBB analysts who go straight to the senior consultant level without a MBA. I know managers and partners without MBAs too. Less than a quarter of those who stay at the firm do not go for an MBA though, especially since most are sponsored (think 2 year vacation).

If you are thinking of exiting consulting though, 2 years is probably the best time to do so, whether to PE or corporate.

 
Best Response
Anonymous.:

From my experience, there are a good number of MBB analysts who go straight to the senior consultant level without a MBA. I know managers and partners without MBAs too. Less than a quarter of those who stay at the firm do not go for an MBA though, especially since most are sponsored (think 2 year vacation).

If you are thinking of exiting consulting though, 2 years is probably the best time to do so, whether to PE or corporate.

While this is true, from some of the direct promotes I know, they were promoted after their 2nd year. This let them avoid the "up or out" type policy of 2-3 years as an analyst to b-school/corporate/PE/etc, but they were still asked after an additional 1-2 years at the Post-MBA role to go back to school, if they weren't promoted to EM/PL/CTL without it.

 
The Sour Patch Kid:
Anonymous.:

From my experience, there are a good number of MBB analysts who go straight to the senior consultant level without a MBA. I know managers and partners without MBAs too. Less than a quarter of those who stay at the firm do not go for an MBA though, especially since most are sponsored (think 2 year vacation).

If you are thinking of exiting consulting though, 2 years is probably the best time to do so, whether to PE or corporate.

While this is true, from some of the direct promotes I know, they were promoted after their 2nd year. This let them avoid the "up or out" type policy of 2-3 years as an analyst to b-school/corporate/PE/etc, but they were still asked after an additional 1-2 years at the Post-MBA role to go back to school, if they weren't promoted to EM/PL/CTL without it.

My understanding is that it also depends on the demand for new managers/post MBA roles. One year, for example, there were a lot of openings to fill (due to office expansion and unusually high number of managers leaving), so more direct promote were offered. In average, the number I heard was around 10%, although that might depend on the firm.

Also, I believe the post MBA roles are A/C/C's. EM/PL/CTL's are the next step up.

 
pnb2002:
The Sour Patch Kid:
Anonymous.:

From my experience, there are a good number of MBB analysts who go straight to the senior consultant level without a MBA. I know managers and partners without MBAs too. Less than a quarter of those who stay at the firm do not go for an MBA though, especially since most are sponsored (think 2 year vacation).

If you are thinking of exiting consulting though, 2 years is probably the best time to do so, whether to PE or corporate.

While this is true, from some of the direct promotes I know, they were promoted after their 2nd year. This let them avoid the "up or out" type policy of 2-3 years as an analyst to b-school/corporate/PE/etc, but they were still asked after an additional 1-2 years at the Post-MBA role to go back to school, if they weren't promoted to EM/PL/CTL without it.

My understanding is that it also depends on the demand for new managers/post MBA roles. One year, for example, there were a lot of openings to fill (due to office expansion and unusually high number of managers leaving), so more direct promote were offered. In average, the number I heard was around 10%, although that might depend on the firm.

Also, I believe the post MBA roles are A/C/C's. EM/PL/CTL's are the next step up.

I agree with your statements.

Also, about the post-MBA roles: Yes, I understand that the post-MBA roels are A/C/C. I was trying to say that, from a couple people I know that got direct promoted to post-MBA roles/, after an additional few years, they (and some of their other direct promote peers) were asked to go back to school anyway, if they weren't then immediately promoted to the EM/PL/CTL level.

 
The Sour Patch Kid:

I agree with your statements.

Also, about the post-MBA roles: Yes, I understand that the post-MBA roels are A/C/C. I was trying to say that, from a couple people I know that got direct promoted to post-MBA roles/, after an additional few years, they (and some of their other direct promote peers) were asked to go back to school anyway, if they weren't then immediately promoted to the EM/PL/CTL level.

Gotcha. Read your reply again, and it makes perfect sense. Skimmed it very quickly on my phone the first time I read it. Apologies.

Also, to the OP:

I don't remember exactly what % leaves the firm after 2-3 years. But common paths (if you don't go to business school or get directly promoted) from MBB are:

1) Industry (F500 or otherwise), usually in a strategy role. 2) PE/VC. Traditionally, McKinsey and Bain have placed more into PE/VC than BCG (in terms of %). 3) Start-up. This is becoming more and more popular. Some start their own or join very young ones (that haven't gotten to the funding stage). Others more well-established ones--Warby Parker and Bonobos, for example, have been hiring a large number of consultants. (They were both founded by ex-MBBers.) 4) Non profits.

Then there are the rare ones who pursue other types of higher education like JD's and PhD's.

 
zentiger:

Thanks for the replies. It seems that it's a really small percentage that skips the MBA (<25%). Ideally I'd want to move up within the firm, but it's a tough sell. I'm sort of confused on what's out there in industry/F500, but that will probably be more clear in the future. PE and VC interest me, and obviously it's easier through IB but hm. I'll think about things. I definitely like consulting more than IB.

Quick question, can someone elaborate on what A/C/C and EM/PL/CTL are?

You're interested in PE, but not really IB? Care to elaborate?

And it Associate/Consultant and Engagement Manager/Project Leader/Case Team Leader, if I'm not mistaken.

 
The Sour Patch Kid:

Quick question, can someone elaborate on what A/C/C and EM/PL/CTL are?

You're interested in PE, but not really IB? Care to elaborate?

And it Associate/Consultant and Engagement Manager/Project Leader/Case Team Leader, if I'm not mistaken.

Yup. To be clearer...

Firm: UG internship -> Post UG -> MBA internship -> Post MBA -> "Manager"

McK: Business Analyst Intern (BAI??) -> Business Analyst (BA) -> Associate Intern (AI) -> Associate (A) -> Engagement Manager (EM) Bain: Associate Consultant Intern (ACI) -> Associate Consultant (AC) -> Summer Associate (SA) -> Consultant (C) -> Case Team Leader (CTL) BCG: Summer Associate (SA) -> Associate (A) -> Summer Consultant -> Consultant (C) -> Project Leader (PL)

At Bain & BCG, for post-UG and post-MBA, they put the number of years you've been in the position to indicate your tenure (i.e. AC1, A1, C1, etc.).

 
The Sour Patch Kid:
zentiger:

Thanks for the replies. It seems that it's a really small percentage that skips the MBA (<25%). Ideally I'd want to move up within the firm, but it's a tough sell. I'm sort of confused on what's out there in industry/F500, but that will probably be more clear in the future. PE and VC interest me, and obviously it's easier through IB but hm. I'll think about things. I definitely like consulting more than IB.

Quick question, can someone elaborate on what A/C/C and EM/PL/CTL are?

You're interested in PE, but not really IB? Care to elaborate?

And it Associate/Consultant and Engagement Manager/Project Leader/Case Team Leader, if I'm not mistaken.

It's a bit convoluted for sure, and keep in mind I'm only a rising UG sophomore so who knows what will really happen and how naive I might sound.

Basically, I know for a fact that I'd enjoy life a hell of a lot more going management consulting as opposed to banking. But I still appreciate more moolah and I'm one for prestige, so if I could get into PE after 2 years of consulting, then that's something I'll try for, cause it means skipping IB. Really just maximizing utility while still trying to have a good time. If I don't get it, I won't be butthurt.

Hopefully that's not too uncommon an opinion.

 
pnb2002:
The Sour Patch Kid:

Quick question, can someone elaborate on what A/C/C and EM/PL/CTL are?

You're interested in PE, but not really IB? Care to elaborate?

And it Associate/Consultant and Engagement Manager/Project Leader/Case Team Leader, if I'm not mistaken.

Yup. To be clearer...

Firm: UG internship -> Post UG -> MBA internship -> Post MBA -> "Manager"

McK: Business Analyst Intern (BAI??) -> Business Analyst (BA) -> Associate Intern (AI) -> Associate (A) -> Engagement Manager (EM)
Bain: Associate Consultant Intern (ACI) -> Associate Consultant (AC) -> Summer Associate (SA) -> Consultant (C) -> Case Team Leader (CTL)
BCG: Summer Associate (SA) -> Associate (A) -> Summer Consultant -> Consultant (C) -> Project Leader (PL)

At Bain & BCG, for post-UG and post-MBA, they put the number of years you've been in the position to indicate your tenure (i.e. AC1, A1, C1, etc.).

That's helpful. And a little more confusing that it should be lol. Thanks!

 

once you are an associate it shoulnd't hurt you.

but someone on here made a thread that he got offered a promotion to associate from analyst, and he just wasn't ready for it. He went and got his MBA and when he got back the job was a lot easier to him.


Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...

 

In the US, it is very uncommon that you will be promoted from 3rd year Analyst to Associate. Instead, they will ship you off for an MBA and then you come back. It's not impossible, but it's not the standard. If by some chance, you can skip the MBA, hell yeah, take the job. (Unless you want to screw around for 2 years!)

In Europe, it is very common for Analysts to be promoted to Associate. It doesn't matter whether you have an MBA or not.

 

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