IB -> MBB
Hey all,
Was looking to get some perspective on jumping from IB to MBB.
Have been tossing up what I want to do in future and have come to the conclusion I'd want to have a crack at MBB, however unfortunately I've missed the main application deadline.
Currently in final year of uni and have grad locked in at a top tier IB. Have had a couple other BBIB internships and one mid-tier consulting.
Given the above, was wondering:
- Would a cold approach work? (i.e. network and try leverage CV to get interview)
- What other ways could an IB analyst (/final year student) get an interview, and how much IB analyst experience would it take to get the interview?
Firstly settle down. Having a 'crack at MBB' is like saying 'yeah fuck it, I'll give MS/GS/JPM a shot - why not?'. People prepare like fuck for that. Also, we need some more light on what 'top IB group means'. Is it BB? Top BB? Is the mid-tier MC internship in a T2? And how long ago was it?
My grad role is at one of the above 3 listed, interned at another one of those as pre-penult. Mid tier consulting think LEK/ATK/OW/S&, interned a couple years ago.
If you missed the application deadline you might be fucked. Consultants do like banking experience, but there are A LOT of kids from top banks trying to make it to MBB. They have a lot of apps from banks, people who hit the deadline and I'm sure check all of the boxes that you do. Going to be nearly impossible to get them to make a special exception for you just because.
Also, cold networking is much harder and rarer in Consulting. Top firms have a more structured and meritocratic application and interview system, as opposed to banks who mostly pick kids based on networking and connections. Just being honest - take your banking job if it's a good group and you can go to b-school or lateral into a consulting role or PE down the road. Good luck though, banking is a slog.
PS - coming from an ex banking associate with lots of friends at MBB firms and who is plugged into campus recruiting dynamics (recruiting co-lead at my bank for my Ivy). Once I'm done with this vacation, I'm going to be interviewing with a couple of those firms for consultant experienced hire roles.
Thanks for the response, grim but all makes sense haha.
Personally feel consulting would give me more value earlier in career given how disruptive the travel lifestyle can be when older (family etc).
Thoughts on applying to offices not in home country/continent? Have seen MBB entry roles open up off-cycle time to time .. would they take someone from overseas (e.g. US applying London)
Yeah I agree, except that b-school is still really a prerequisite for advancement in consulting, so going and getting an MBA quickly (2-3yrs of work experience) and then heading in as a post-MBA with no more disruptions at 28 isn't so bad either. Bust your ass for 4-5 years, make EM, get married then and can take it easier on travel. Just some random thoughts.....
Re Other Office: I mean it's possible, but you'd have to have a real reason why you want to be there and it can't be "it's less competitive or I missed the US deadline."
Quae labore occaecati quae eum. Odit esse inventore fugiat praesentium natus. Quos sit possimus soluta.
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